Finding Text
2025-001 – Student Financial Aid Cluster - (a) 84.007 Federal Supplemental Educational Opportunity Grants (b) 84.033 Federal Work Study Program (c) 84.063 Federal Pell Grant Program (d) 84.268 Federal Direct Student Loans - Year Ended June 30, 2025. Criteria: An institution must use the Return to Title IV refund calculation (34 CFR 668.22). Additionally, The Department of Education requires that all refunds be made within 45 days of a student’s withdrawal (34 CFR 668.22, 685.306). Condition: Sikich tested twenty drop students and found one incorrect refund calculation and one untimely paid refund (10%). We consider this finding to be an instance of non-compliance in relation to Special Tests and Provisions and a repeat of prior year finding 2024-001. Statistical sampling was not used. Questioned Costs: $3,558 Cause: The condition was caused by an oversight in the Financial Aid Department. Effect: The result is the Institution incorrectly and untimely refunded funds to the Department of Education. Recommendation: We recommend the College increase controls over refund calculations. Views of Responsible Officials: Management agrees with this Single Audit Finding.