Finding 33332 (2022-002)

-
Requirement
L
Questioned Costs
-
Year
2022
Accepted
2022-12-18

AI Summary

  • Core Issue: The Institution inaccurately reported the number of students receiving Emergency Financial Aid Grants, leading to non-compliance with federal requirements.
  • Impacted Requirements: Reporting obligations under the CARES Act and CRRSAA mandate accurate public disclosure of grant distributions.
  • Recommended Follow-Up: The Institution should correct the reporting errors and ensure accurate public postings moving forward.

Finding Text

FINDING 2022-002: Inaccurate Reporting FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION PROGRAM NAME: HIGHER EDUCATION EMERGENCY RELIEF FUND GRANT PROGRAM ALN#: 84.425Q FEDERAL AWARD YEAR: 2021-2022 Compliance Requirement: Reporting (L.) Criteria: As required under the Coronavirus Aid, Relief, and Economic Security (CARES) ACT Section 18004(e) and the CRRSAA Section 314(e), an Institution must public post the total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) as of the date of submission of its Student Aid Quarterly Public Reporting. Condition: The Institution incorrectly reported the total number of students who received an Emergency Financial Aid Grant in its December 31, 2021 Student Aid Quarterly Public Reporting. We consider this finding to be an instance of non-compliance. Cause: The condition was caused by administrative oversight. Effect: The result is that the Institution misstated the number of students receiving grants in its Student Aid Quarterly Public Reporting, December 31, 2021: Total number of students who received Emergency Financial Aid Grants: 345. Total number of students who received Emergency Financial Aid Grants per report: 329 Recommendation: We recommend the Institution prepare corrected reports and publicly post Views of Responsible Officials: The Institution agrees with the Single Audit Finding and a response is included in the Corrective Action Plan.

Corrective Action Plan

CORRECTIVE ACTIVE PLAN Independent Audit Firm: Sikich LLP Audit Period: July 1, 2021 to June 30, 2022 A. Comments on Findings and Recommendations: Finding 2022-002 ? Inaccurate Reporting The institution concurs with the independent auditor that the CRRSAA- Quarter ended December 31, 2021 incorrectly reported the number of students who had received grants as 329 instead of the correct number of 345 due to a clerical error. B. Actions Taken or Planned: The institution has subsequently updated the report with the correct number and will conduct an additional review prior to reporting in the future. Signature Anthony Iaquinto CFO/Treasurer/CAO Fax:810-740-1007 Official Telephone: 810-740-1007 E-Mail Address: tiaquinto@rosseducation .edu

Categories

Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $2.95M
84.063 Federal Pell Grant Program $2.06M
84.425 Education Stabilization Fund $1.01M