Finding 513139 (2023-003)

Significant Deficiency

Requirement

Questioned Costs

Year

2023

Accepted

2024-12-05

Audit: 331122

Organization: Metropolitan College of New York (NY)

Auditor: Nawrocki Smith LLP

AI Summary

Answer: The College missed the deadline for submitting its audited financial statements.
Trend: This could indicate potential issues with compliance and financial oversight.
List: Follow up by ensuring timely submissions in the future and reviewing processes for financial reporting.

The College did not submit its audited financial statements to the Federal Audit Clearinghouse by the required due date.

ALN	Program Name	Expenditures
84.268	Federal Direct Student Loans	$10.45M
84.063	Federal Pell Grant Program	$1.91M
17.271	Work Opportunity Tax Credit Program (wotc)	$803,614
84.031	Higher Education Institutional Aid	$216,523
84.379	Teacher Education Assistance for College and Higher Education Grants (teach Grants)	$158,099
84.007	Federal Supplemental Educational Opportunity Grants	$146,094
84.033	Federal Work-Study Program	$117,849