FAC Explorer

Finding 1169346 (2025-003)

Material Weakness Repeat Finding
Requirement
N
Questioned Costs
-
Year
2025
Accepted
2026-01-16
Audit: 382279
Organization: Wayland Baptist University (TX)
Auditor: CAPINCROUSE LLC

AI Summary

  • Core Issue: The University failed to return the correct amount of unearned Title IV funds on time for some students who withdrew.
  • Impacted Requirements: This issue violates 34 CFR 668.22, which mandates timely and accurate returns of Title IV funds.
  • Recommended Follow-Up: Provide ongoing training for counselors on R2T4 calculations to prevent future errors.

Finding Text

Inaccurate and Untimely Return of Title IV Funds (R2T4) Material Weakness DEPARTMENT OF EDUCATION ALN #: 84.268 and 84.063 Federal Award Identification #: 2024-2025 Financial Aid Year Condition: When students withdrew either officially or unofficially, the University did not always return the correct amount of unearned Title IV aid timely. Criteria: 34 CFR 668.22 Questioned Costs: $0 Context: Out of 19 students, 3 students who withdrew during the audit period tested had funds returned late, ranging from 14 to 31 days. 1 of 19 withdrawals tested had a typo in the actual amount returned by over returning 3 dollars of Pell. All students were corrected during the audit process. Cause: These were oversights by the University. Effect: The unearned Title IV funds were returned late. Identification as repeat finding, if applicable: Yes - 2024-002 Recommendation: We recommend the University continue to provide additional training for counselors performing R2T4 calculations. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.

Corrective Action Plan

Inaccurate and Untimely Return of Title IV Funds (R2T4) Planned Corrective Action: The Executive Director of Financial Aid and the Assistant Director of Compliance & Reporting will provide regular in-house R2T4 training specific to WBU for all financial aid staff. All financial aid staff responsible for R2T4 will be required to complete pertinent training provided by FSA and purchased through NASFAA. In addition, financial aid staff responsible for R2T4 have established procedures to ensure the accurate and timely Return of Title IV Funds. To address the system limitations identified, the University has acquired a new Software-as-a-Service (SaaS) financial aid management system. Person Responsible for Corrective Action Plan: Executive Director of Financial Aid, Robert Hamilton, and Assistant Director of Compliance & Reporting, Brooke Tyler, and Assistant Director of Financial Aid, Alyssa Shealor Anticipated Date of Completion: June 30, 2026

Categories

Student Financial Aid Material Weakness Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 1169339 2025-001
    Material Weakness Repeat
  • 1169340 2025-002
    Material Weakness Repeat
  • 1169341 2025-003
    Material Weakness Repeat
  • 1169342 2025-004
    Material Weakness Repeat
  • 1169343 2025-006
    Material Weakness Repeat
  • 1169344 2025-001
    Material Weakness Repeat
  • 1169345 2025-002
    Material Weakness Repeat
  • 1169347 2025-005
    Material Weakness Repeat
  • 1169348 2025-006
    Material Weakness Repeat
  • 1169349 2025-001
    Material Weakness Repeat
  • 1169350 2025-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.268 FEDERAL DIRECT STUDENT LOANS $15.52M
84.063 FEDERAL PELL GRANT PROGRAM $7.03M
84.031 HIGHER EDUCATION INSTITUTIONAL AID $639,577
84.007 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS $222,842
84.116 FUND FOR THE IMPROVEMENT OF POSTSECONDARY EDUCATION $189,776
84.033 FEDERAL WORK-STUDY PROGRAM $171,842
47.076 STEM EDUCATION (FORMERLY EDUCATION AND HUMAN RESOURCES) $138,122
84.021 OVERSEAS PROGRAMS - GROUP PROJECTS ABROAD $58,948
16.525 GRANTS TO REDUCE DOMESTIC VIOLENCE, DATING VIOLENCE, SEXUAL ASSAULT, AND STALKING ON CAMPUS $57,851