Finding Text
Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans 84.031 Higher Education Institutional Aid (Title III) Federal Award Year June 30, 2025 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2025 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purpose of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a). Repeat Finding Yes. See 2024-005. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The University acknowledges the auditor’s finding regarding the late submission of the June 30, 2025, Single Audit reporting package. Although the submission exceeded the required federal deadline by only one day, management recognizes that any delay constitutes noncompliance with 2 CFR 200.512(a), and we take full responsibility for this timing exception. Over the past six months, the University has undertaken significant steps to strengthen its financial, accounting, and compliance infrastructure. As part of this effort, the University has hired several key leaders and staff members, including a new Vice President & Chief Financial Officer, a Controller, and a Director of Financial Aid, among other critical staff additions. These new appointments have already begun enhancing oversight, accountability, and operational capacity within the Financial Affairs and Student Financial Aid functions. The slight delay in the FY 2025 submission occurred during a period of substantial organizational transition, when newly onboarded leadership was assessing existing workflows and implementing corrective improvements. To ensure that no future deadlines are missed—and to fully eliminate repeat findings—the University has established enhanced internal controls and strengthened reporting processes, including: • Implementing a detailed Single Audit reporting calendar with accelerated internal milestones. • Assigning clear roles, responsibilities, and escalation procedures across all involved departments. • Deploying an automated tracking and reminder system for federal reporting deadlines. • Conducting quarterly compliance and readiness reviews to ensure alignment with Uniform Guidance requirements. Management is committed to ensuring timely and accurate compliance with all federal reporting obligations. With the addition of new, experienced leadership and the implementation of strengthened processes, the University is confident that this issue has been addressed and will not recur.