Finding Text
2022?006 Return of Title IV (R2T4) Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster CFDA Number: 84.063 ? Federal Pell Grant Program Award Period: July 1, 2021 through June 30, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance (Other Matters) Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.22(e)(4) states the total amount of unearned title IV assistance must be returned within 45 days after the date of the institution's determination that the student withdrew. Condition: During our testing we noted one instance where the University did not return funds to the Department of Education. Questioned costs: Known questioned costs totaling $740, likely questioned costs totaling $3,808. Context: In our sample of 7 students, we identified one student where Pell funds of $740 were not returned to the Department of Education. The University submitted a request to return funds through COD, but the request did not go through. Cause: The University?s policies and procedures did not ensure that the refund was made in a timely manner. Effect: Funds were not returned to the Department of Education. Repeat Finding: No. Recommendation: We recommend that the college ensures they have appropriate policies and procedures as well as safeguards in place to ensure return of Title IV funds are made in a timely manner. Views of responsible officials: See Corrective Action Plan prepared by the University.