Finding 1205115 (2025-002)

Material Weakness Repeat Finding
Requirement
N
Questioned Costs
-
Year
2025
Accepted
2026-03-31

AI Summary

  • Issue: The Institution returned Title IV funds late in 8 out of 25 cases.
  • Trend: This indicates a potential pattern of non-compliance with the 45-day return requirement.
  • Follow-up: Review processes for returning funds and implement training to ensure timely compliance.

Finding Text

During our test work over return of Title IV funds, we noted that in eight (8) instances out of a sample of 25 students selected, the Institution returned the funds after the allowable 45 days.

Corrective Action Plan

Critical Deadline Controls Implementation of internal tracking alerts to monitor the 45-day regulatory deadline.Tracking calendar for each withdrawn student.Interdepartmental Coordination Review and update of protocols between Academic Departments Registrar, Financial Aid, and Finance.Immediate notification of student withdrawals.Process Standardization Development of detailed procedures for calculation and return of funds.Use of standardized checklists for each R2T4 case.Oversight and Review Weekly review and validation withdrawals, drops of pending R2T4 cases. Monthly reconciliation of withdrawal reports submitted by the Registrar Office.Technical Training Specialized training in R2T4 calculations and federal compliance

Categories

Student Financial Aid

Other Findings in this Audit

  • 1205113 2025-001
    Material Weakness Repeat
  • 1205114 2025-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.063 FEDERAL PELL GRANT PROGRAM $8.90M
84.268 FEDERAL DIRECT STUDENT LOANS $8.10M
97.036 DISASTER GRANTS - PUBLIC ASSISTANCE (PRESIDENTIALLY DECLARED DISASTERS) $701,291
84.033 FEDERAL WORK-STUDY PROGRAM $166,865
84.007 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS $138,776
84.379 TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANTS (TEACH GRANTS) $40,521