Finding Text
2022-004 ? Late Return of Title IV Funds Finding Type. Immaterial Noncompliance/Significant Deficiency in Internal Control over Compliance (Special Tests and Provisions). Program. Student Financial Aid Cluster; CFDA Numbers 84.007, 84.033, 84.063, 84.268. Criteria. The University is responsible for returning the Title IV funds no later than 45 business days (or within 30 days for students that never began attendance) after the date the University determined that the student withdrew. Condition. The University returned Title IV funds of $28 after the prescribed 45 day window for one student tested out of a population of one. Cause. This condition appears to have been caused by a lack oversight of outstanding Title IV funds. Effect. As a result of this condition, the University did not fully comply with the special tests and provisions requirements. Questioned Costs. No costs have been questioned as a result of this finding inasmuch as no unallowable costs have been identified. Recommendation. We recommend that management review their current practices and policies for reviewing Title IV funds associated with students who withdraw. View of Responsible Officials. Management agrees with the finding. See corrective action plan.