Finding 389771 (2023-001)

- Repeat Finding

Requirement

Questioned Costs

Year

2023

Accepted

2024-03-29

Audit: 300663

Organization: Caribbean University, Inc. (PR)

Auditor: Baker Tilly Puerto Rico CPAS Psc

AI Summary

Answer: The Institution failed to promptly notify the Secretary about changes in enrollment status for four students with federal loans.
Trend: This issue indicates a recurring problem with timely reporting of student status changes.
List: Follow up by ensuring proper training on reporting requirements and implementing a tracking system for enrollment changes.

Finding Text

We observed that the Institution did not notify the Secretary through the NSLDS in a timely manner of the change in the enrollment status (withdrew/graduated) of four (4) students with federal loans during the academic period covering the fiscal year 2022-2023.

Corrective Action Plan

The University verified the internal processes related to this report and verified the operating system manual used by the University since the repo1t is sent electronically. In addition, the University continues with the process of continuous training for the Register Office, Academic Office and Financial Aid Office with the purpose of sending this report in the time required according to regulations

Other Findings in this Audit

966213 2023-001

- Repeat

Programs in Audit

ALN	Program Name	Expenditures
84.063	Federal Pell Grant Program	$7.39M
84.268	Federal Direct Student Loans	$5.33M
84.425	Education Stabilization Fund	$2.94M
84.033	Federal Work-Study Program	$162,969
84.007	Federal Supplemental Educational Opportunity Grants	$150,349
84.379	Teacher Education Assistance for College and Higher Education Grants (teach Grants)	$10,161