Student Financial Assistance Cluster-Assistance Listing No. 84.0007, 84.033, 84.063, 84.268
Recommendation: We recommend the University review its policies and procedures related to Title IV outstanding checks to ensure they are being returned to the Department of Education after 240 days.
Explanation of disagreement with audit finding: There is no disagreement with the audit finding .
Action taken in response to finding : La Salle University will identify outstanding not cashed checks for each term. A term is normally 4 months in total as each semester generates a list of uncashed checks. Within two weeks of establishing outstanding checks, we will send letters to students informing them that they have outstanding refund checks. For approximately six months, the process of reviewing the outstanding list repeats, and if a check has not been cashed, another letter of notice is mailed. After six months, finance will send the outstanding list to Student Financial Services for a 30-day final review/outreach. At 21 O days from original refund issuance, Finance will provide the list to Financial Aid who will return balances to DOE.
Name(s) of the contact person(s) responsible for corrective action: Zak Thornton, Assistant Vice President of Finance
Planned completion date for corrective action plan: Corrected as of Spring 2025.