Finding Text
2025-003: FISAP Reporting Federal agency: U.S. Department of Education Federal program title: Student Financial Assistance Cluster Assistance Listing Numbers: 84.007, 84.268, 84.033, 84.038, 84.063 Award Period: July 1, 2024 through June 30, 2025 Type of Finding: - Significant Deficiency in Internal Control over Compliance - Other Matters Criteria or Specific Requirement: Per U.S. Department of Education guidelines for the Fiscal Operations Report and Application to Participate (FISAP), institutions must accurately report tuition and fees in Part II, Section E, Line 22 based on official institutional records and applicable accounting standards. Condition/Context: During our testing of the FISAP submission for the SFA fund, we noted that Part II (Application), Section E, Line 22: Total Tuition and Fees did not contain correct information. Questioned Costs: None. Cause: The University's internal controls did not identify the errors for compliance with the criteria mentioned above. Effect: Inaccurate information of institutional financial data is reported to the Department of Education, which may trigger additional compliance reviews. Repeat Finding: No. Recommendation: We recommend the University review its reporting procedures to ensure that key line items are reviewed and accurately reported to Department of Education as required by regulations. Views of Responsible Officials: Please refer to the attached corrective action plan.