Finding 511946 (2024-001)

Significant Deficiency
Requirement
N
Questioned Costs
-
Year
2024
Accepted
2024-11-23
Audit: 329672
Organization: Summit Academy Oic (MN)

AI Summary

  • Core Issue: The Academy failed to notify the Department of Education about changes in key positions within the required 10-day timeframe.
  • Impacted Requirements: This finding highlights a significant deficiency in internal controls over compliance with federal regulations (34 CFR 668.25(e)).
  • Recommended Follow-Up: The Academy should improve its procedures for timely ECAR updates to ensure compliance and accurate reporting.

Finding Text

Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster – Various Assistance Listing Numbers: Various Federal Award Identification Number and Year: Various Pass-Through Agency: N/A Pass-Through Number: N/A Award Period: July 1, 2023, through June 30, 2024 Type of Finding: * Significant Deficiency in Internal Control Over Compliance * Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.25(e) states that an institution must notify the Department of Education by way of the ECAR within 10 days of a change in position of an official at the Institution. Condition: During our testing, we noted the Chief Operating Officer and Financial Aid Manager was not reported timely to the Department of Education. Questioned costs: None Context: During our testing, we noted the Chief Operating Officer and Financial Aid Manager had a change in position and it was not updated within 10 days. Cause: There was not a formal process in place to ensure ECAR updates were made timely to ensure the Academy is in compliance with the regulations. Effect: The Academy is not in compliance with Department of Education requirements that state the ECAR must have accurately reported information. Repeat finding: No Recommendation: We recommend the Academy review its reporting procedures surrounding updating the ECAR to ensure reporting is accurate and completed. Views of responsible officials: There is no disagreement with the audit finding.

Categories

Reporting Significant Deficiency Internal Control / Segregation of Duties

Other Findings in this Audit

  • 511944 2024-001
    Significant Deficiency
  • 511945 2024-001
    Significant Deficiency
  • 511947 2024-002
    Significant Deficiency
  • 511948 2024-002
    Significant Deficiency
  • 511949 2024-002
    Significant Deficiency
  • 511950 2024-003
    Significant Deficiency
  • 511951 2024-003
    Significant Deficiency
  • 511952 2024-003
    Significant Deficiency
  • 511953 2024-004
    Significant Deficiency Repeat
  • 511954 2024-004
    Significant Deficiency Repeat
  • 511955 2024-004
    Significant Deficiency Repeat
  • 1088386 2024-001
    Significant Deficiency
  • 1088387 2024-001
    Significant Deficiency
  • 1088388 2024-001
    Significant Deficiency
  • 1088389 2024-002
    Significant Deficiency
  • 1088390 2024-002
    Significant Deficiency
  • 1088391 2024-002
    Significant Deficiency
  • 1088392 2024-003
    Significant Deficiency
  • 1088393 2024-003
    Significant Deficiency
  • 1088394 2024-003
    Significant Deficiency
  • 1088395 2024-004
    Significant Deficiency Repeat
  • 1088396 2024-004
    Significant Deficiency Repeat
  • 1088397 2024-004
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
84.063 Federal Pell Grant Program $1.61M
17.289 Community Project Funding/congressionally Directed Spending $709,503
84.007 Federal Supplemental Educational Opportunity Grants $40,900
84.033 Federal Work-Study Program $9,638