Finding 380981 (2023-005)

-
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2024-03-18
Audit: 295700
Organization: Birmingham-Southern College (AL)
Auditor: Bdo USA PC

AI Summary

  • Core Issue: The College submitted the 2022-2023 FISAP with errors and missed the deadline for corrections.
  • Impacted Requirements: Compliance with the annual FISAP submission and accuracy of reported data.
  • Recommended Follow-Up: Improve review procedures to ensure accurate FISAP submissions in the future.

Finding Text

Federal Program Information: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement: L. Special Reporting – Fiscal Operations Report and Application to Participate (“FISAP”) - An institution is required to submit the FISAP annually by October 1st, following the end of the award year, and to accurately complete all required key line items containing critical information. The deadline for submitting data corrections is December 15th of the year in which a school submits its FISAP. Condition: The College submitted the 2022-2023 FISAP with errors and data corrections were not submitted by the required deadline. Cause: Administrative oversight. Effect or Potential Effect: The College is not in compliance with Reporting requirements. Questioned Costs: None. Context: The College submitted the annual FISAP for the 2022-2023 reporting year by the required deadline; however, the tuition and fees reported did not agree with the audited financial statements. The window to correct the 2022-2023 FISAP has closed; as of the date of our Single Audit report, these errors remain uncorrected. Identification as a Repeat Finding: There was no similar finding identified in the prior year. Recommendation: We recommend the College enhance its procedures to ensure that the FISAP is completed accurately prior to submission. Views of Responsible Officials: The Finance Office provided Financial Aid with the incorrect amount to report on the annual FISAP for 2022-2023. The amount reported was $22,069,69,744 rather than $19,859,744. The $22,069,744 was inverted and incorrect. The College will add another level of review before submitting the FISAP to mitigate this type of error.

Categories

Student Financial Aid Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $4.79M
84.063 Federal Pell Grant Program $1.21M
84.116 Fund for the Improvement of Postsecondary Education $151,197
84.033 Federal Work-Study Program $151,000
84.007 Federal Supplemental Educational Opportunity Grants $104,000
47.074 Biological Sciences $11,386
84.038 Federal Perkins Loan Program $0