Finding Text
Reporting U.S. Department of Education Student Financial Aid Cluster: ALN: 84.063 Pell Grant ALN: 84.007 Supplemental Educational Opportunity Grant ALN 84.033 Federal Work Study ALN 84.038 Federal Perkins Loan Program ALN 84.268 Federal Direct Student Loans Criteria: The Fiscal Operations Report and Application to Participate (FISAP) is due by October 1st of each year. Part II Section E requires tuition and fee revenue be reported. Part II Section F requires the number of eligible aid applicants enrolled at the University for the reporting period who applied for financial aid be reported. Condition: The amounts reported for tuition and fee revenue in Part II Section E was understated by $335,611, representing fees collected during the reporting period. The amounts reported for Section F did not report accurate information as it was not available. Context: The University mistakenly omitted the fee revenue from the FISAP report. The University converted software systems during the year, resulting in reporting problems for Part II Section F. Effect: The information reported in the FISAP for Part II Sections E and F is not accurate. Questioned Costs: None. Cause: The University made an error in reporting the tuition and fee income. Part II Section F information supplied in the new software, Jenzabar, did not work because all of the information was not available in the module used to generate the information for this part of the FISAP. The Part F information was obtained from the Jenzabar Financial Aid module. Auditor Recommendation: We recommend the University enhance procedures for reporting to ensure accuracy of reported information. University Response: The University went through a software conversion at the beginning of the fiscal year and due to the timing of the reporting and familiarity of the new software this was unintentionally omitted from the report. The creation of a procedure documenting where information is gathered from and a review process will ensure accuracy of reported information.