Finding 38841 (2022-002)

Significant Deficiency
Requirement
N
Questioned Costs
-
Year
2022
Accepted
2023-02-07

AI Summary

  • Core Issue: One student did not receive their Title IV credit balance on time, violating federal regulations.
  • Impacted Requirements: Schools must pay Title IV credit balances to students within 14 days of the balance occurring.
  • Recommended Follow-Up: The College should improve communication procedures regarding late federal aid disbursements.

Finding Text

2022 ? 002 ? Title IV Credit Balances Federal Agency: U.S. Department of Education Federal Program Title: Student Financial Assistance Cluster CFDA Number: 84.007. 84.033, 84.038, 84.063, 84.268 Award Period: 7/1/21-6/30/22 Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters Criteria or Specific Requirement: If FSA disbursements to a student?s account at the school create a Title IV credit balance, the school must pay the credit balance directly to the student or parent as soon as possible but no later than 14 days after: - the first day of class of a payment period if the credit balance occurred on or before that day, or - the balance occurred if that was after the first day of class. Condition: In our sample of 40 students tested, one student had a Title IV credit balance that was not paid directly to the student within the required timeframe. Questioned Costs: None Context: One student out of a sample of 40 students had a Title IV credit balance that was paid outside of the required timeframe. Cause: Student received a late payment of federal aid, which was not properly communicated between the College?s departments. This breakdown in communication was not discovered until after the required time period had already passed. Effect: The College is not in compliance with the federal regulations. Repeat Finding: No. Auditors? Recommendation: The College should review its policies and procedures on communication of students who receive late disbursements of federal aid. Views of Responsible Officials: See attached corrective action plan.

Categories

Student Financial Aid Significant Deficiency Internal Control / Segregation of Duties

Other Findings in this Audit

  • 38832 2022-001
    Significant Deficiency Repeat
  • 38833 2022-002
    Significant Deficiency
  • 38834 2022-001
    Significant Deficiency Repeat
  • 38835 2022-002
    Significant Deficiency
  • 38836 2022-001
    Significant Deficiency Repeat
  • 38837 2022-002
    Significant Deficiency
  • 38838 2022-001
    Significant Deficiency Repeat
  • 38839 2022-002
    Significant Deficiency
  • 38840 2022-001
    Significant Deficiency Repeat
  • 615274 2022-001
    Significant Deficiency Repeat
  • 615275 2022-002
    Significant Deficiency
  • 615276 2022-001
    Significant Deficiency Repeat
  • 615277 2022-002
    Significant Deficiency
  • 615278 2022-001
    Significant Deficiency Repeat
  • 615279 2022-002
    Significant Deficiency
  • 615280 2022-001
    Significant Deficiency Repeat
  • 615281 2022-002
    Significant Deficiency
  • 615282 2022-001
    Significant Deficiency Repeat
  • 615283 2022-002
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $2.04M
12.000 Department of Defence $1.30M
84.425E Higher Education Emergency Relief Fund (student Aid Portion) $1.11M
84.425F Higher Education Emergency Relief Fund (institutional Portion) $1.11M
84.063 Federal Pell Grant Program $1.08M
84.007 Federal Supplemental Educational Opportunity Grants $202,469
93.242 Mental Health Research Grants $125,815
84.033 Federal Work-Study Program $117,619
84.038 Federal Perkins Loan Program $117,564
93.172 Human Genome Research $109,208
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $92,804
47.075 Social, Behavioral, and Economic Sciences $92,500
47.074 Biological Sciences $87,504
93.859 Biomedical Research and Research Training $45,902
47.049 Mathematical and Physical Sciences $30,923
43.001 National Aeronautics and Space Administration $26,557
47.070 Computer and Information Science and Engineering $24,950
47.050 Geosciences $15,126
45.169 Promotion of the Humanities_office of Digital Humanities $9,512
84.425C Pass-Through From the Partnership for Academic Library Collaboration & Innovation (palci) $8,357
84.425C Pass-Through From the Pennsylvania Department of Education $2,163