FAC Explorer

Finding 507819 (2024-005)

Material Weakness
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2024-11-14
Audit: 328325
Organization: University of Sioux Falls (SD)
Auditor: Eide Bailly LLP

AI Summary

  • Core Issue: The annual report for the year ending June 30, 2023, was not submitted on time due to turnover in the business office.
  • Impacted Requirements: Compliance with 34 CFR 628.47(f) regarding timely report submissions to the Department of Education.
  • Recommended Follow-Up: The University should evaluate and improve its reporting processes to prevent future oversights.

Finding Text

Strengthening Institutions Program – Department of Education Federal Financial Assistance Listing #84.031 P031A080196 Reporting Material Weakness in Internal Control over Compliance and Material Noncompliance Criteria: 34 CFR 628.47(f) requires grantees to submit reports on a timely basis that are requested by the Secretary. Condition: Annual report for the year ending June 30, 2023, was not filed. Cause: There was turnover in the business office that resulted in an oversight of the reporting requirement. Effect: The annual report was not filed with the Department of Education. Questioned Costs: None. Context/Sampling: No sampling was utilized. The only report required to be filed in the fiscal year was tested. Repeat Finding from Prior Years: No Recommendation: The University should review their current process to ensure reporting requirements are met. Views of Responsible Officials: Management agrees with the finding.

Corrective Action Plan

Strengthening Institutions Program - Department of Education Federal Financial Assistance Listing #84.031 P031A080196 Reporting Material Weakness in Internal Control over Compliance and Material Noncompliance Finding Summary: Annual report for the year ending June 30, 2023, was not filed. Responsible Individuals: Michael Van Surksum, Vice President for Business and Finance Corrective Action Plan: Management will review their current process to ensure reporting requirements are met. Anticipated Completion Date: Already complete - annual report for the year-ending June 30, 2024 has now been submitted.

Categories

Internal Control / Segregation of Duties Material Weakness Reporting

Other Findings in this Audit

  • 507814 2024-002
    Significant Deficiency
  • 507815 2024-003
    Significant Deficiency
  • 507816 2024-003
    Significant Deficiency
  • 507817 2024-003
    Significant Deficiency
  • 507818 2024-004
    Significant Deficiency
  • 1084256 2024-002
    Significant Deficiency
  • 1084257 2024-003
    Significant Deficiency
  • 1084258 2024-003
    Significant Deficiency
  • 1084259 2024-003
    Significant Deficiency
  • 1084260 2024-004
    Significant Deficiency
  • 1084261 2024-005
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $7.86M
84.063 Federal Pell Grant Program $2.01M
84.031 Higher Education_institutional Aid $1.12M
84.038 Federal Perkins Loan Program $474,945
84.033 Federal Work-Study Program $166,212
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $112,217
84.007 Federal Supplemental Educational Opportunity Grants $104,500
93.859 Biomedical Research and Research Training $103,378
16.525 Grants to Reduce Domestic Violence, Dating Violence, Sexual Assault, and Stalking on Campus $27,498