Finding Text
2025 - 003 – Return of Title IV Funds Federal Agency: U.S. Department of Education Federal Program Title: Student Financial Assistance Cluster Federal Assistance Listing Number: 84.007, 84.063, 84.268 Award Period: 7/1/24-6/30/25 Type of Finding: Significant Deficiency in Internal Control Over Compliance, Other Matters Criteria or specific requirement: Once a student’s withdrawal date is determined, a school needs to calculate the percentage of the payment period of enrollment completed. Institutionally scheduled breaks of five or more consecutive days are excluded from the R2T4 calculation as periods of nonattendance and, therefore, do not affect the calculation of the amount of Federal Student Aid earned (34 CFR 668.22(f)(2)(i)). The Code of Federal Regulations, 34 CFR 668.22 defines the last date of attendance for schools that are required to take attendance and those that are not required. Condition: The incorrect semester end date was used in the calculation. Questioned costs: $67 Context: During our testing, we noted 4 students out of 12 students tested where the wrong date was used for the last day of the fall semester in the R2T4 calculation. Cause: The University's process in place for identifying semester end dates for R2T4 calculations was not functioning properly. Effect: Inaccurate calculation affects the amount of funds to be returned. Repeat finding: No. Recommendation: We recommend the University evaluate its procedures and policies to ensure correct dates are being used in the calculation and that it is reviewed for accuracy. Views of responsible officials: There is no disagreement with the audit finding.