Finding 36940 (2022-002)

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Requirement
L
Questioned Costs
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Year
2022
Accepted
2023-03-28
Audit: 35014
Organization: Edgewood College, Inc. (WI)

AI Summary

  • Core Issue: The College failed to post its third quarter student funds report by the deadline, missing the required date of October 10, 2022.
  • Impacted Requirements: Compliance with the reporting requirements for the COVID-19 Education Stabilization Fund, specifically the timely posting of quarterly reports.
  • Recommended Follow-Up: Implement a tracking system for all reporting deadlines and provide training for staff to ensure timely submissions in the future.

Finding Text

Agency: U.S. Department of Education CFDA Number: 84.425E Program: COVID-19 Education Stabilization Fund ? HEERF student aid portion Condition: The College?s report for the third calendar quarter of 2022 was not posted to the College?s website by the required date. Criteria: The College is required to post its quarterly student funds report on the College?s website no later than 10 days after the end of each calendar quarter (October 10, January 10, April 10, July 10). Questioned costs: The amount of questioned costs could not be determined. Context: The quarterly student funds report was not posted by to the due date. Cause: The third calendar quarter student funds report was not posted by the required due date and was posted on October 11, 2021. Effect: The College was not in compliance with the reporting requirements of the contracts. Recommendation: We recommend management track all reporting due dates related to the contracts and establish timelines within the College?s accounting and finance team to ensure that all reports are submitted by the required due dates. The tracking system used should be available for all necessary employees and training should be included with onboarding of employees. Management's Response: The College agrees and concurs with the audit finding. The Business office will review and post any new quarterly HEERF information to the College?s website within the 10 day required time. The College has not received or used HEERF funding in fiscal year 2023. The final quarterly HEERF report was for June 30, 2022.

Corrective Action Plan

FINDING 2022-002: The College?s report for the third calendar quarter of 2022 was not posted to the College?s website by the required date Federal Program - COVID-19 Education Stabilization Fund ?HEERF student aid portion Agency- U.S. Department of Education Pass-Through Entity - not applicable CFDA Number - 84.425E Federal Award Number- P425E201899 - 20B Federal Award Year- June 30, 2022 Criteria: The College is required to post its quarterly student funds report on the College?s website no later than 10 days after the end of each calendar quarter (October 10, January 10, April 10, July 10). Condition: The College?s report for the third calendar quarter of 2022 was not posted to the College?s website by the required date. Questioned Costs: The amount of questioned costs could not be determined. Context: The quarterly student funds report was not posted by to the due date. Cause: The third calendar quarter student funds report was not posted by the requied date and was posted on October 11, 2021. Effect: The College was not in compliance with the reporting requirements of the contracts. Recommendation: We recommend management track all reporting due dates related to the contracts and establish timelines within the College?s accounting and finance team to ensure that all reports are submitted by the required due dates. The tracking system used should be available for all necessary employees and training should be included with onboarding of employees. Corrective Action Plan: The Business Office will review due dates and post any new quarterly HEERF information to the College?s website within the 10 day required time. Responsible Person: Jane Wilhelm, Controller Implementation Date: Immediate

Categories

Reporting

Other Findings in this Audit

  • 36934 2022-001
    Significant Deficiency
  • 36935 2022-001
    Significant Deficiency
  • 36936 2022-001
    Significant Deficiency
  • 36937 2022-001
    Significant Deficiency
  • 36938 2022-001
    Significant Deficiency
  • 36939 2022-001
    Significant Deficiency
  • 36941 2022-002
    -
  • 613376 2022-001
    Significant Deficiency
  • 613377 2022-001
    Significant Deficiency
  • 613378 2022-001
    Significant Deficiency
  • 613379 2022-001
    Significant Deficiency
  • 613380 2022-001
    Significant Deficiency
  • 613381 2022-001
    Significant Deficiency
  • 613382 2022-002
    -
  • 613383 2022-002
    -

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $11.01M
84.425 Education Stabilization Fund - Student Portion - (arp) $1.85M
84.063 Federal Pell Grant Program $1.39M
84.425 Education Stabilization Fund - Institution Portion - (arp) $1.38M
84.038 Federal Perkins Loan Program - Outstanding Loans $637,667
84.033 Federal Work-Study Program $151,395
84.007 Federal Supplemental Educational Opportunity Grants $97,518
21.019 Coronavirus Relief Fund $42,757
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $36,306
16.525 Grants to Reduce Domestic Violence, Dating Violence, Sexual Assault, and Stalking on Campus $11,562