Finding 21828 (2022-007)

Material Weakness
Requirement
L
Questioned Costs
-
Year
2022
Accepted
2022-11-29

AI Summary

  • Core Issue: The Institution failed to timely post required expenditure reports for Emergency Financial Aid Grants.
  • Impacted Requirements: Reporting obligations under the CARES Act and CRRSAA, specifically the need to update financial information every 45 days (now quarterly).
  • Recommended Follow-Up: Enhance reporting controls to ensure compliance with posting deadlines.

Finding Text

FINDING 2022-007: UNTIMELY REPORTING FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION PROGRAM NAME: HIGHER EDUCATION EMERFENCY RELIEF FUNDS ALN#: 84.425E & 84.425F FEDERAL AWARD YEAR: 2021-2022 Compliance Requirement: Reporting (L.) Criteria: As required under the CARES Act Section 18004(e) and clarified under Federal Register August 31, 2020 (85 FR 53802) and the CRRSAA Section 314(e), an Institution must publicly post the total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) as of the date of submission and updated every 45 days thereafter (subsequently changed to every quarter) and must publicly post Quarterly Budget and Expenditure Reporting forms every quarter to satisfy the Condition: The Institution was late in publicly posting its Institutional Expenditure reports for the quarters ended December 31, 2021 and March 31, 2022. We will qualify our opinion for this attribute. Cause: The condition was caused by administrative oversights. Effect: The result is that the Department of Education and general public were not made aware of the Institution?s quarterly institutional expenditures in a timely manner. Question Costs: $0 Recommendation: We recommend the Institution increase controls over reporting. Views of Responsible Officials: The Institution agrees with the Single Audit Finding and a response is included in the Corrective Action Plan.

Categories

Reporting

Other Findings in this Audit

  • 21815 2022-002
    -
  • 21816 2022-003
    - Repeat
  • 21817 2022-001
    - Repeat
  • 21818 2022-002
    -
  • 21819 2022-003
    - Repeat
  • 21820 2022-004
    Material Weakness
  • 21821 2022-005
    Material Weakness
  • 21822 2022-006
    Material Weakness
  • 21823 2022-007
    Material Weakness
  • 21824 2022-008
    Material Weakness
  • 21825 2022-004
    Material Weakness
  • 21826 2022-005
    Material Weakness
  • 21827 2022-006
    Material Weakness
  • 21829 2022-008
    Material Weakness
  • 598257 2022-002
    -
  • 598258 2022-003
    - Repeat
  • 598259 2022-001
    - Repeat
  • 598260 2022-002
    -
  • 598261 2022-003
    - Repeat
  • 598262 2022-004
    Material Weakness
  • 598263 2022-005
    Material Weakness
  • 598264 2022-006
    Material Weakness
  • 598265 2022-007
    Material Weakness
  • 598266 2022-008
    Material Weakness
  • 598267 2022-004
    Material Weakness
  • 598268 2022-005
    Material Weakness
  • 598269 2022-006
    Material Weakness
  • 598270 2022-007
    Material Weakness
  • 598271 2022-008
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $1.89M
84.425 Education Stabilization Fund $460,753
84.063 Federal Pell Grant Program $408,794
84.007 Federal Supplemental Educational Opportunity Grants $23,390