Finding 1205093 (2025-002)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2025
Accepted
2026-03-31
Audit: 396743
Auditor: SIKICH CPA LLC

AI Summary

  • Core Issue: The College submitted the FISAP late, missing the October 1 deadline due to the President's absence.
  • Impacted Requirements: Compliance with 34 CFR 668.24, which mandates timely submission of financial aid forms.
  • Recommended Follow-Up: Implement stronger controls to ensure timely submission of the FISAP in the future.

Finding Text

2025-002 – 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: The College must provide an original signature on the printed form that must be mailed or hand delivered by the first of October deadline date. (34 CFR 668.24). Condition: The College submitted the FISAP to the Department fourteen days after the requirement due to President being out of the country. We consider this to be an instance of noncompliance in relation to Reporting and is not a repeat finding. Statistical sampling was not used. Questioned Costs: N/A Cause: This condition was caused by inadequate controls over Reporting. Effect: The College did not submit the final FISAP totals to the Department of Education in a timely fashion. Recommendation: We recommend that the College puts controls in place to ensure that the FISAP is submitted timely. Views of Responsible Officials: Management agrees with this Single Audit Finding and response is included in the Corrective Action Plan.

Corrective Action Plan

2025-002 - The College must provide an original signature on the printed form that must be mailed or hand delivered by the first of October deadline date. (34 CFR 668.24). Condition: The College submitted the FISAP to the Department fourteen days after the requirement due to President being out of the country. We consider this to be an instance of noncompliance in relation to Reporting and is not a repeat finding. Statistical sampling was not used. Responsible Person: Robert Emerson - Director of Financial Aid Corrective Action Plan: The FISAP is available for completion during the months of August and September, with a deadline of October 1st. To avoid potential future schedule issues, the Financial Aid office will target a completion date no later than September 10th. This will ensure our ability to obtain an original signature and mail the application in a timely manner. Implementation Date: 10-22-2025

Categories

Student Financial Aid

Other Findings in this Audit

  • 1205086 2025-001
    Material Weakness Repeat
  • 1205087 2025-001
    Material Weakness Repeat
  • 1205088 2025-001
    Material Weakness Repeat
  • 1205089 2025-001
    Material Weakness Repeat
  • 1205090 2025-002
    Material Weakness Repeat
  • 1205091 2025-002
    Material Weakness Repeat
  • 1205092 2025-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.268 FEDERAL DIRECT STUDENT LOANS $5.73M
84.063 FEDERAL PELL GRANT PROGRAM $2.25M
84.033 FEDERAL WORK-STUDY PROGRAM $141,465
84.007 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS $44,730
47.074 BIOLOGICAL SCIENCES $43,173
47.076 STEM EDUCATION (FORMERLY EDUCATION AND HUMAN RESOURCES) $21,000