FAC Explorer

Finding 390551 (2023-001)

Material Weakness
Requirement
C
Questioned Costs
-
Year
2023
Accepted
2024-03-30
Audit: 301309
Organization: Michigan Barber School (MI)
Auditor: Manning & Associates Cpa's LLC

AI Summary

  • Issue: The required Return-to-Title IV (R3T4) calculation was not completed, which affects compliance with federal regulations.
  • Trend: This oversight may indicate a pattern of neglect in financial aid processes, potentially leading to increased scrutiny from regulators.
  • Follow-up: Implement a review process to ensure R3T4 calculations are performed timely and accurately in the future.

Finding Text

MISSING RETURN-TO-TITLE IV (R3T4) CALCULATION

Corrective Action Plan

FINDING 2023-1- Missing Return-to-Title IV (R2T4) Calculations

Categories

Student Financial Aid

Other Findings in this Audit

  • 966993 2023-001
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
84.063 Federal Pell Grant Program $727,201
84.425 Education Stabilization Fund $559,301