FAC Explorer

Finding 32718 (2022-001)

Significant Deficiency Repeat Finding
Requirement
N
Questioned Costs
-
Year
2022
Accepted
2023-02-22
Audit: 29381
Organization: Texas College (TX)
Auditor: Murphy and Company PC

AI Summary

  • Core Issue: The College failed to comply with federal regulations for Title IV programs, specifically regarding timely returns of Title IV funds.
  • Impacted Requirements: Required actions include returning funds within 45 days and issuing refunds within 14 days.
  • Recommended Follow-Up: Implement corrective actions to prevent future non-compliance and avoid potential USDE sanctions.

Finding Text

Finding 2022-001 - U.S. Department of Education (USDE), Title IV Student Financial Aid Programs (significant deficiency): Information on the federal program: Federal Direct Student Loans, CFDA No. 84. 268, June 30, 2022; Federal Pell Grants Program, CFDA No. 84.063, June 30, 2022; Federal Supplemental Educational Opportunity Grant, CFDA No. 84.007, June 30, 2022; Federal Work-Study Program, CFDA No. 84.033, June 30, 2022; Teacher Education Assistance for College and Higher Education CFDA No. 84.379, June 30, 2022 Criteria - Federal regulations governing the Title IV programs. Condition - Non-compliances were noted, as more fully described in the context below. Questioned Costs - $0 Context- We observed the following conditions in connection with our testing of the various U.S. Department of Education, Title IV, Student Financial Assistance Programs: a) One (1) out of six (6) student files tested did not have their Title IV funds returned within the required 45 days. b) Two (2) out of fifty-four (54) student files tested did not have their refund issued within the required 14 days. Cause - Oversight by responsible employees. Effect- The College's participation in the Title IV programs could be subject to USDE sanctions as applicable. Repeat Finding- Yes Auditor's Recommendation - The College should impJement corrective actions to ensure that the above findings are resolved and will not recur in future periods.

Corrective Action Plan

Finding 2022-001 U S DOE Title IV Student Financial Aid Programs (significant deficiency): The auditors observed the following conditions in connection with our testing of the various U.S. Department of Education, Title IV, Student Financial Assistance Programs. a) One (1) out of six (6) student files tested did not have their Title IV funds returned within the required 45 days. b) Two (2) out of sixty (60) student files tested did not have their refund issued within the required 14 days. The college should implement corrective actions to ensure that the above findings are resolved and will not reoccur in future periods. The College?s Corrective Plan: (a) The College accepts the auditor?s recommendation. The College?s Registrars Office and Financial Aid Office will coordinate and communicate relating to student enrollment to ensure that information is reported timely. (b) The College accepts the auditor?s recommendation. The Business Office has reviewed its information retrieval process to ensure that the correct parameters are being used for information retrieval purposes

Categories

Student Financial Aid Matching / Level of Effort / Earmarking Significant Deficiency

Other Findings in this Audit

  • 32719 2022-001
    Significant Deficiency Repeat
  • 32720 2022-001
    Significant Deficiency Repeat
  • 32721 2022-001
    Significant Deficiency Repeat
  • 32722 2022-001
    Significant Deficiency Repeat
  • 609160 2022-001
    Significant Deficiency Repeat
  • 609161 2022-001
    Significant Deficiency Repeat
  • 609162 2022-001
    Significant Deficiency Repeat
  • 609163 2022-001
    Significant Deficiency Repeat
  • 609164 2022-001
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $3.07M
84.063 Federal Pell Grant Program $2.88M
84.425 Education Stabilization Fund $2.28M
59.073 Paycheck Protection Loan Program (ppp) $1.21M
84.007 Federal Supplemental Educational Opportunity Grants $457,752
84.031 Higher Education_institutional Aid $107,656
84.033 Federal Work-Study Program $105,539
77.007 U.s. Nuclear Regulatory Commission Minority Serving Institutions Program (msip) $99,914
47.076 Education and Human Resources $88,003
15.904 Historic Preservation Fund Grants-in-Aid $47,848
47.074 Biological Sciences $25,649
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $11,316
47.070 Computer and Information Science and Engineering $8,637