Finding 387582 (2023-002)

-
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2024-03-28
Audit: 299699
Organization: College of Mount Saint Vincent (NY)

AI Summary

  • Core Issue: The College failed to submit a required quarterly report for Q2 2023, combining it with the next quarter's data instead of reporting separately.
  • Impacted Requirements: HEERF reporting mandates that quarterly reports be posted individually within 10 days after each quarter ends, not cumulatively.
  • Recommended Follow-Up: The College should enhance its internal controls to ensure timely and accurate submission of HEERF quarterly reports moving forward.

Finding Text

Finding 2023-002 - Reporting (Control Deficiency) U.S. Department of Education – Education Stabilization Fund - Higher Education Emergency Relief Fund (“HEERF”) Student Aid Portion (84.425E) Institutional Portion (84.425F) Minority Serving Institutions (84.425L) Federal Award Year: 2022-2023 Criteria and Context: HEERF reporting requirements include three components: 1) public reporting on Student Aid; public reporting on the Institution Portion and subprograms, as applicable; and 3) the annual report. Public reporting on the student aid and institutional portions is required to be posted to the institution’s website and updated no later than 10 days after the end of each calendar quarter. Previously, institutions were required to publicly post on their websites two separate reports documenting their expenditures of student and institutional portions of funds, respectively. Effective for the Q2 2022 report required to be posted by July 10, 2022, the U.S. Department of Education (“ED”) instituted a new quarterly reporting form that captures spending of both student and institutional funds. Quarterly reports should appear on separate documents by quarter and should not be cumulative. Condition, Cause, and Effect: During our testing, we noted that the College did not submit a quarterly report for the quarter ended March 31, 2023, as required. Instead, the College combined the reporting activity for the quarters ended March 31, 2023 and June 30, 2023 in the Q2 2023 report. Questioned Costs: None noted Identified as a Repeat Finding: No Recommendation: The College should review the effectiveness of its internal controls governing the timely submission of HEERF quarterly reports to ensure such information is submitted within the appropriate timeframe.

Categories

Internal Control / Segregation of Duties Reporting

Other Findings in this Audit

  • 387578 2023-001
    Significant Deficiency Repeat
  • 387579 2023-001
    Significant Deficiency Repeat
  • 387580 2023-002
    -
  • 387581 2023-002
    -
  • 964020 2023-001
    Significant Deficiency Repeat
  • 964021 2023-001
    Significant Deficiency Repeat
  • 964022 2023-002
    -
  • 964023 2023-002
    -
  • 964024 2023-002
    -

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $17.82M
84.063 Federal Pell Grant Program $5.41M
84.038 Federal Perkins Loan Program $427,024
84.425 Education Stabilization Fund $396,997
84.033 Federal Work-Study Program $393,579
84.042 Trio_student Support Services $331,573
84.007 Federal Supplemental Educational Opportunity Grants $263,644
84.031 Higher Education_institutional Aid $207,352
93.364 Nursing Student Loans $158,943
16.525 Grants to Reduce Domestic Violence, Dating Violence, Sexual Assault, and Stalking on Campus $44,267
47.076 Education and Human Resources $39,200
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $1,415