Finding Text
2022-003 Return of Title IV (R2T4) Federal Agency: U.S. Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021 to June 30, 2022 Type of Finding: - Significant Deficiency in Internal Control Over Compliance - Other Matters Criteria or Specific Requirement: The Code of Federal Regulations, 34 CFR 668.22(f)(2)(i), states that scheduled breaks of at least five consecutive days are excluded from the total number of calendar days in a payment period or period of enrollment and the number of calendar days completed in that period. Condition: During our testing, we noted two out of the six individuals tested had used an incorrect percentage of days attended causing the College to incorrectly calculated the return of Title IV funds. Questioned Costs: None Context: During our testing, we noted the College had used a 7-day break during the spring semester instead of using a 9-day break causing impact on the calculation on percent of aid earned and the amount of Title IV aid refunded. Cause: The College?s return of Title IV funds template was not including the correct amount of days during a 5-day break during their spring semester thus students? percentage of days attended was miscalculated. Effect: The College is not completing accurate return of Title IV funds calculations as defined by the regulations. Repeat Finding: No Recommendation: We recommend the College review the return of Title IV funds requirements and implement procedures to ensure the return of Title IV funds calculations are using the correct number of break days and are accurately completed. Views of responsible officials: There is no disagreement with the audit finding.