Finding 1168693 (2025-002)

Material Weakness Repeat Finding
Requirement
N
Questioned Costs
-
Year
2025
Accepted
2026-01-09
Audit: 380668
Organization: Harding University, Inc. (AR)
Auditor: LANDMARK PLC

AI Summary

  • Issue: Title IV funds were not returned on time for students who unofficially withdrew.
  • Trend: This delay could lead to compliance risks and potential financial penalties.
  • Follow-up: Review and improve processes for tracking unofficial withdrawals and ensure timely fund returns.

Finding Text

UNTIMELY RETURN OF TITLE IV FUNDS FOR UNOFFICIAL WITHDRAWAL

Corrective Action Plan

Management has implemented controls to ensure that all students receiving only failing grades ("all F") at the end of the semester are evaluated for potential R2T4 calculations.

Categories

Student Financial Aid Reporting

Other Findings in this Audit

  • 1168691 2025-001
    Material Weakness Repeat
  • 1168692 2025-003
    Material Weakness Repeat
  • 1168694 2025-004
    Material Weakness Repeat
  • 1168695 2025-005
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.268 FEDERAL DIRECT STUDENT LOANS $33.59M
84.063 FEDERAL PELL GRANT PROGRAM $5.81M
84.038 FEDERAL PERKINS LOAN PROGRAM_FEDERAL CAPITAL CONTRIBUTIONS $1.86M
93.364 NURSING STUDENT LOANS $1.01M
84.033 FEDERAL WORK-STUDY PROGRAM $411,802
84.047 TRIO UPWARD BOUND $363,769
84.217 TRIO MCNAIR POST-BACCALAUREATE ACHIEVEMENT $269,825
84.379 TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANTS (TEACH GRANTS) $206,054
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $148,255
93.658 FOSTER CARE TITLE IV-E $97,798
84.007 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS $95,667
43.008 OFFICE OF STEM ENGAGEMENT (OSTEM) $68,314
93.859 BIOMEDICAL RESEARCH AND RESEARCH TRAINING $63,931
47.076 STEM EDUCATION (FORMERLY EDUCATION AND HUMAN RESOURCES) $41,715
42.010 TEACHING WITH PRIMARY SOURCES $40,820
47.041 ENGINEERING $21,755
84.425 EDUCATION STABILIZATION FUND $16,924
93.145 HIV-RELATED TRAINING AND TECHNICAL ASSISTANCE $16,066