COVID‐19 Higher Education Emergency Relief Funds – Institution Share Department of Education
Federal Financial Assistance Listing #84.425F
Activities Allowed or Unallowed and Allowable Costs/Costs Principles
Significant Deficiency in Internal Control
Finding Summary: The University’s calculated lost revenue was based on average credit hours per semester prior to COVID-19 as compared to fiscal years 2020, 2021 and 2022. There was a formula error in the credit hours used during COVID-19 resulting in an understated amount of lost revenue from the intended methodology.
Responsible Individuals: Tami Lansing, Controller
Corrective Action Plan: The calculation underwent a review, yet the error eluded detection during the review. In any future COVID-19 lost revenue calculations, we will exercise more detailed scrutiny. The University was constrained by a predetermined threshold for lost revenue, and we had already surpassed that limit. The miscalculation, had it not been overlooked, would have only inflated that amount. It is important to note that the University intentionally approached lost revenue calculations with a conservative basis.
Anticipated Completion Date: August 10, 2023