FAC Explorer

Finding 30561 (2022-001)

Significant Deficiency
Requirement
C
Questioned Costs
-
Year
2022
Accepted
2023-03-26
Audit: 33151
Organization: Manhattan School of Music (NY)
Auditor: Crowe LLP

AI Summary

  • Answer: $156,000 was disbursed late, over 15 days after cash was received.
  • Trend: This represents 26% of the total student funds disbursed for CRRSAA and ARP.
  • List: Review disbursement processes to ensure timely payments in the future.

Finding Text

During fiscal year ended June 30, 2022, approximately $156,000 (or 26% of the total $597,416) of the CRRSAA and ARP student portion was disbursed more than 15 days after the G5 cash draw receipt

Corrective Action Plan

Ultimately, all funds were disbursed, however the school acknowledges that a portion of the Student Aid HEERF Funds were not disbursed within 15 calendar days of the G5 cash draw receipt. The School experienced turnover in multiple staff positions during FY22, which led to the absence of consistent and appropriate review processes related to HEERF disbursements. Staff turnover has been more limited the past few months and management is better equipped to ensure federal funds are disbursed in accordance with the disbursement guidelines

Categories

No categories assigned yet.

Other Findings in this Audit

  • 30556 2022-002
    Significant Deficiency
  • 30557 2022-002
    Significant Deficiency
  • 30558 2022-002
    Significant Deficiency
  • 30559 2022-002
    Significant Deficiency
  • 30560 2022-002
    Significant Deficiency
  • 30562 2022-001
    Significant Deficiency
  • 606998 2022-002
    Significant Deficiency
  • 606999 2022-002
    Significant Deficiency
  • 607000 2022-002
    Significant Deficiency
  • 607001 2022-002
    Significant Deficiency
  • 607002 2022-002
    Significant Deficiency
  • 607003 2022-001
    Significant Deficiency
  • 607004 2022-001
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $8.92M
84.U38 Federal Perkins Loan $532,204
84.063 Federal Pell Grant Program $350,947
84.425 Education Stabilization Fund $52,000
84.033 Federal Work-Study Program $37,825
84.007 Federal Supplemental Educational Opportunity Grants $36,881