Finding 389829 (2023-004)

- Repeat Finding
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2024-03-29
Audit: 300714
Organization: Stevenson University, Inc. (MD)
Auditor: Bdo USA PC

AI Summary

  • Core Issue: The University failed to provide necessary documentation for key parts of the FISAP, impacting compliance with federal reporting requirements.
  • Impacted Requirements: This oversight affects the accuracy of reported expenditures, which could jeopardize future Title IV funding.
  • Recommended Follow-Up: Enhance policies to ensure all FISAP-related reports are saved and retained for future reference, preventing recurrence of this issue.

Finding Text

Federal Program Information: Federal Supplemental Educational Opportunity Grants (ALN: 84.007) and Federal Work-Study Program (ALN: 84.033) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): L. Reporting – Special Reporting – The Fiscal Operations Report and Application to Participate (“FISAP”) is an electronic report submitted annually to receive funds for the campus-based programs. The institution uses the Fiscal Operations Report portion to report its expenditures in the previous award year and the Application to Participate portion to apply for the following year. Key line items containing critical information include: Part I, Identifying Information, Certification, and Warning; Part II, Application to Participate (selected sections); Part III, Fiscal Operations Report, Part IV, Fiscal Operations Report Federal Supplemental Educational Opportunity Grant Program; Part V, Fiscal Operations Report Federal Work-Study Program; and Part VI, Program Summary for Award Year. The FISAP must be submitted each year by the deadline established by the ED. Condition: The University was unable to provide supporting documentation for certain key line items of the submitted FISAP. Cause: Administrative oversight with respect to FISAP reporting. Effect or Potential Effect: The University is not in compliance with FISAP reporting requirements. Failure to report accurate records of expenditures for the previous award year could impact future availability of Title IV aid. Questioned Costs: None. Context: The University was unable to reproduce the reports used to prepare Part VI, Section A of the FISAP. Identification of Repeat Finding: This is a repeat finding from prior year. This was reported as Finding 2022-002 in the prior year schedule of findings and questioned costs. Recommendation: We recommend the University enhance its policies and procedures to ensure that reports used to prepare the annual FISAP are retained, in accordance with federal regulations. Views of Responsible Officials and Planned Corrective Actions: After running the FISAP required reports in Colleague, the Financial Aid office will be required to save the reports so they are available to be used as supporting documents. This past year after the data was collected and the reports ran in Colleague the reports were not saved to the network drive and were lost. The reports cannot be recreated at a later date.

Corrective Action Plan

Names of Responsible Individuals: Chad Wick, Director Financial Aid and Mark Hergan, VP Enrollment Management Corrective Action: After running the FISAP required reports in Colleague, the Financial Aid office will be required to save the reports so they are available to be used as supporting documents. This past year after the data was collected and the reports ran in Colleague the reports were not saved to the network drive and were lost. The reports cannot be recreated at a later date. Anticipated Completion Date: June 30, 2024

Categories

Student Financial Aid Reporting

Other Findings in this Audit

  • 389821 2023-001
    -
  • 389822 2023-001
    -
  • 389823 2023-002
    Significant Deficiency Repeat
  • 389824 2023-002
    Significant Deficiency Repeat
  • 389825 2023-002
    Significant Deficiency Repeat
  • 389826 2023-002
    Significant Deficiency Repeat
  • 389827 2023-003
    -
  • 389828 2023-003
    -
  • 389830 2023-004
    - Repeat
  • 389831 2023-005
    Significant Deficiency Repeat
  • 389832 2023-005
    Significant Deficiency Repeat
  • 389833 2023-005
    Significant Deficiency Repeat
  • 389834 2023-005
    Significant Deficiency Repeat
  • 389835 2023-006
    -
  • 389836 2023-007
    - Repeat
  • 389837 2023-008
    Significant Deficiency Repeat
  • 389838 2023-008
    Significant Deficiency Repeat
  • 389839 2023-008
    Significant Deficiency Repeat
  • 389840 2023-009
    -
  • 389841 2023-009
    -
  • 966263 2023-001
    -
  • 966264 2023-001
    -
  • 966265 2023-002
    Significant Deficiency Repeat
  • 966266 2023-002
    Significant Deficiency Repeat
  • 966267 2023-002
    Significant Deficiency Repeat
  • 966268 2023-002
    Significant Deficiency Repeat
  • 966269 2023-003
    -
  • 966270 2023-003
    -
  • 966271 2023-004
    - Repeat
  • 966272 2023-004
    - Repeat
  • 966273 2023-005
    Significant Deficiency Repeat
  • 966274 2023-005
    Significant Deficiency Repeat
  • 966275 2023-005
    Significant Deficiency Repeat
  • 966276 2023-005
    Significant Deficiency Repeat
  • 966277 2023-006
    -
  • 966278 2023-007
    - Repeat
  • 966279 2023-008
    Significant Deficiency Repeat
  • 966280 2023-008
    Significant Deficiency Repeat
  • 966281 2023-008
    Significant Deficiency Repeat
  • 966282 2023-009
    -
  • 966283 2023-009
    -

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $27.50M
84.063 Federal Pell Grant Program $4.49M
84.007 Federal Supplemental Educational Opportunity Grants $301,384
84.033 Federal Work-Study Program $271,413