Finding Text
FINDING 2022-003: LATE REFUNDS FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION PROGRAM NAME: FEDERAL PELL GRANT PROGRAM AND FEDERAL DIRECT LOAN PROGRAM ALN#: 84.268 & 84.063 FEDERAL AWARD YEAR: 2021-2022 Compliance Requirement: Special Tests and Provisions (N.) - Return of Title IV Funds Criteria: The Department of Education requires that all refunds be made within 45 days of a student?s withdrawal (34 CFR 668.22, 685.306). Condition: We tested twelve drop students in our sample and noted two late refunds. We consider this finding to be an instance of non-compliance and is a repeat finding shown in Section IV of this report as prior year Finding 2021-004. Cause: The condition was caused by an oversight in the financial aid department. Effect: The result is the Institution retained funds which should have been returned to the Department of Education. Question Costs: $6,908 Statistical sampling was not used when making sample selections. See Schedule of Findings and Questioned Costs for chart/table Recommendation: We recommend the Institution increase controls over refunds. Views of Responsible Officials: The Institution agrees with the Single Audit Finding and a response is included in the Corrective Action Plan.