Finding 32731 (2022-002)

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Requirement
N
Questioned Costs
-
Year
2022
Accepted
2023-02-23
Audit: 29383
Organization: Paine College (GA)

AI Summary

  • Core Issue: One student’s funds were not returned to the U.S. Department of Education within the required 45 days, indicating a compliance failure.
  • Impacted Requirements: This finding violates federal regulations governing Title IV programs, which could lead to sanctions against the College.
  • Recommended Follow-Up: The College should take corrective actions to prevent this issue from happening again in the future.

Finding Text

Finding 2022-002 - U.S. Department of Education (USDE). Title IV Student Financial Aid Programs: 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. Criteria - Federal regulations governing Title IV programs. Condition - non-compliances were noted, as more fully described in the context below. Questioned Costs -As provided below. 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. ? We noted in our testing that one (1) out of twenty-five (25) students selected for R2T4 testing did not have his/her funds returned to the U.S. Department of Education within the required 45 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 - No Auditor's Recommendation - The College should implement corrective actions to ensure the above finding is resolved and will not recur in future periods.

Corrective Action Plan

Finding 2022-002 - U.S. Department of Education (USDE). Title IV Student Financial Aid Programs: We observed the folfowing conditions in connection with our testing of the various U.S. Department of Education, Title IV, Student Financial Assistance Programs. ? We noted in our testing that one (1) out of twenty-five (25) students selected for R2T4 testing did not have his/herfunds returned to the U.S. Department of Education within the required 45 days. Corrective Action - Management concurs with observation. The College has implemented corrective actions to ensure that the above finding is resolved and will not recur in future periods.

Categories

Student Financial Aid Questioned Costs Matching / Level of Effort / Earmarking

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $1.46M
84.425 Education Stabilization Fund $1.30M
84.063 Federal Pell Grant Program $967,622
84.031 Higher Education_institutional Aid $569,270
84.047 Trio_upward Bound $514,864
84.033 Federal Work-Study Program $300,326
84.007 Federal Supplemental Educational Opportunity Grants $234,244
84.042 Trio_student Support Services $206,632
84.120 Minority Science and Engineering Improvement $153,174
16.525 Grants to Reduce Domestic Violence, Dating Violence, Sexual Assault, and Stalking on Campus $61,682
47.076 Education and Human Resources $60,363