FAC Explorer

Finding 375413 (2023-001)

Significant Deficiency
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2024-03-11
Audit: 294475
Organization: Mount Saint Mary College (NY)
Auditor: Crowe LLP

AI Summary

  • Answer: There is a significant discrepancy of $1,462,109 between FISAP and the College's records regarding state grants and scholarships.
  • Trend: This variance indicates a potential ongoing issue with data reporting accuracy in financial statements.
  • List: Follow up by reviewing the College's records for accuracy and reconciling them with FISAP to ensure compliance.

Finding Text

The information included in FISAP should agree with the College’s records. For Section 24 of Part II, a variance of $1,462,109 was noted related to state grant and scholarship made. FISAP reported $0 for the state grant and scholarship made

Categories

Student Financial Aid

Other Findings in this Audit

  • 375409 2023-001
    Significant Deficiency
  • 375410 2023-002
    Material Weakness
  • 375411 2023-001
    Significant Deficiency
  • 375412 2023-003
    Significant Deficiency
  • 375414 2023-003
    Significant Deficiency
  • 375415 2023-003
    Significant Deficiency
  • 951851 2023-001
    Significant Deficiency
  • 951852 2023-002
    Material Weakness
  • 951853 2023-001
    Significant Deficiency
  • 951854 2023-003
    Significant Deficiency
  • 951855 2023-001
    Significant Deficiency
  • 951856 2023-003
    Significant Deficiency
  • 951857 2023-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $13.87M
84.063 Federal Pell Grant Program $2.37M
84.038 Federal Perkins Loan Program $318,225
93.364 Nursing Student Loans $138,061
84.007 Federal Supplemental Educational Opportunity Grants $124,751
84.033 Federal Work-Study Program $56,627
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $34,891