Finding 508241 (2024-002)

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Requirement
L
Questioned Costs
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Year
2024
Accepted
2024-11-18
Audit: 328714
Organization: Centenary College of Louisiana (LA)

AI Summary

  • Core Issue: The College submitted inaccurate cost of attendance data to COD, affecting compliance with federal reporting requirements.
  • Impacted Requirements: Timely and accurate reporting of Pell and Direct Loan records as mandated by federal regulations.
  • Recommended Follow-up: Review and enhance processes for data reconciliation to ensure accurate reporting to COD.

Finding Text

Criteria or specific requirement – Reporting – According to 34 CFR 690.83, Dear Colleague Letter Gen 13-13, and Federal Register Volume 84, Number 212, November 1, 2019 an institution must submit Pell and Direct Loan origination records and disbursement records to the Common Origination and Disbursement (COD) in timely and accurate manner. Condition – Cost of attendance per the College’s system did not agree with the reported cost of attendance reported per COD records. Questioned costs - $0 Context – Out of the population of 502 students who received $6,223,012 of federal aid, a sample of 25 students who received $290,966 of federal aid were selected. Of the 25 students selected, the College reported cost of attendance incorrectly for 2 students’ Pell awards. Our sampling method was not, and was not intended to be, statistically valid. Effect – The College did not report accurate data to COD. Cause – Lack of detailed reconciliation of student origination records to data provided to COD. Identification of repeat finding, if applicable – N/A Recommendation –The College should review and update its processes for reporting information to COD. Views of responsible officials and planned corrective actions – The Financial Aid Director establishes aid budgets for various student groups. These budgets are entered in the college’s ERP system and a Pell origination record is established and sent to COD. A previous upgrade that seems to have only affected students enrolled in one term caused a difference in the COA and COD database. This defect has been resolved with the recent upgrade. See separate report for planned corrective actions.

Categories

Student Financial Aid Reporting Matching / Level of Effort / Earmarking

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $4.30M
84.063 Federal Pell Grant Program $1.57M
84.033 Federal Work-Study Program $142,182
84.038 Federal Perkins Loan Program $136,338
84.007 Federal Supplemental Educational Opportunity Grants $59,278
47.074 Biological Sciences $24,903