Finding Text
Condition: During our audit, we noted the following for certain students selected for testing that withdrew during the fiscal year: 1) no documentation was provided that indicated when the student was reimbursed, 2) no date of withdrawal was provided. Criteria: When a recipient of Title IV grant or loan assistance withdraws from an institution during a payment period or period of enrollment in which the receipient began attendance, the institution must determine the amount of Title IV aid earned by the student as of his/her withdrawal date. If the total amount of the Title IV assitance earned by the student is less than the amount disbursed as of the date of withdrawal, the difference must be returned to the Title IV programs with no additional disbursements made to the student for the payment period/period of enrollment. If the amount earned is greater than the amount disbursed, the differene mudt be treated as as post-withdrawal disbursement (34 CFR section 668.22(a)(1) through (a)(5)). Cause: Administrative oversight and lack of staff completion. Effect: The Univeristy is not in compliance with withdrawal reportin requirements. Failure to promptly report accurate and timely changes in enrollment status may adversly impact students receeiving refunds. Recommendation: We recommend that for all students that withdrew and are issued a refund, the University ensure that procedures are in place to clearly document the date of withdrawal, date of disburse,ent and amount of reimbursement, if any. Views of Responsible Officials and Planned Corrective Actions: The Univeristy implemented a comprehensive ERP software tool, Ellucian Colleague in FY2021 and FY2022 and hired more staff. The built- in internal control structure which includes access to enrollment reports and data coupled with a complete reconciliation process with the Office of Financial Aid, Office of the Registrar and Studen tAccounts will prevent this from recurring.