Condition Summary: $85,880 of SEOG funding related to the 2024-2025 award year was applied to student accounts during fiscal year 2026, because the full amount of available SEOG funding was not initially allocated to eligible students. Management Response / Corrective Action Plan: Management concurs with this finding. As part of the University's full review of 2025-2026 packaging activity, the engaged consulting firm has implemented a quarterly reconciliation of SEOG allocation against amounts awarded and disbursed, to ensure funds are fully awarded to eligible students within the correct award year. The University is also evaluating, in consultation with the Department of Education, the appropriate treatment of the funds identified in this finding. Staff previously responsible for SEOG packaging are no longer employed at the institution. Responsible Party - Raymond Nault, Interim Director of Student Financial Services Title - Interim oversight: Engaged Consulting Firm Anticipated Completion Date - August 24, 2026 Note: Because the corrective actions described above were substantially implemented during and after the fiscal year 2025 audit period, management anticipates that this condition, or elements of it, may continue to be identified as a finding in the University's fiscal year 2025-2026 single audit. Full operating effectiveness of the revised controls will not be demonstrable until they have been in place for a complete testing cycle.