Finding 34458 (2022-001)

2022-001: Errors Relating to Return of Title IV Financial Aid - Student Financial Aid Cluster - Assistance Listing Number #s 84.007, 84.033, 84.063, 84.268 - Grant Period - Year Ended June 30, 2022 Criteria: According to 34 CFR 668.22 when a recipient of Title IV grant or loan assistance withdraws from a College during a payment period or period of enrollment in which the recipient began attendance, the College must determine the amount of Title IV grant or loan assistance that the student earned as of the student's withdrawal date. Condition: During our return of Title IV Fund testing we noted that the College did not calculate or return Title IV for students who ceased attendance correctly for three students out of twenty-two. The College used the incorrect number of days the student attended when calculating the return of Title IV. We consider this to be an significant deficiency relating to the Special Tests and Provisions Compliance Requirement. Statistical sampling was not used when making sample selections. See Schedule of Findings and Questioned Costs for chart/table. Questioned Costs: $32 Effect: The College did not properly calculate the return of Title IV for three students out of twenty-two. Cause: The College?s internal controls did not identify the fact that the incorrect number of days the student attended when calculating the return of Title IV. Recommendation: We recommend the College monitor and update their system used for return of Title IV calculations with the correct dates. Views of Responsible Officials: Management agrees with this finding and response is included in Corrective Action Plan.