Condition Summary: The institution did not consistently perform R2T4 calculations during the year. As a result: 1. 3 of the 4 students tested had R2T4 calculations that were performed late, resulting in $14,074 of returned funds outside the required timeframe. 2. Of the R2T4 calculations tested, 4 of 4 students had R2T4 calculations that were performed incorrectly, resulting in $691 of net over returned Title IV aid. Management Response / Corrective Action Plan: Management concurs with this finding. Turnover within the Financial Aid office resulted in a breakdown in the process used to identify withdrawn students and timely complete R2T4 calculations. As part of the University's full review of 2025-2026 withdrawal activity, all R2T4 calculations have been recalculated and confirmed for accuracy, and any additional funds due have been returned. Staff previously responsible for this function are no longer employed at the institution, and the engaged consulting firm has assumed interim responsibility for identifying withdrawals and completing R2T4 calculations within the required 45-day period, with a secondary review of every calculation prior to submission. 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.