Finding Text
Federal Agency: U.S. Department of Education
Federal Program Title: Student Financial Aid Cluster
ALN Numbers: Multiple
Award Period: September 1, 2023 through August 31, 2024
Type of Finding:
• Significant Deficiency in Internal Control Over Compliance
• Other Matters
Criteria or Specific Requirement: The 2 CFR Section 200.303 require that nonfederal entities receiving federal awards establish and maintain internal controls designed to reasonably ensure compliance with Federal Statues, regulations, and the term and conditions of the federal awards.
Condition: During our testing of Common Origination and Disbursement (COD), Return of Title IV Funds (R2T4) and National Student Loan Data System (NSLDS), we noted there was a review process implemented; however, there was no process in place to retain the review being performed as to provide evidence to ensure the controls are being performed effectively.
Questioned Costs: None.
Context: During our testing, it was noted the University does not have a process in place to ensure controls are being performed effectively.
Cause: The University did not have a process in place to ensure controls implemented are being performed effectively
Effect: There is no way to determine who was involved in the process should an error be present.
Repeat Finding: No
Recommendation: We recommend the University reevaluate its procedures and review policies surrounding controls implemented for Title IV Aid.
Views of Responsible Officials: There is no disagreement with the audit finding.