Finding Text
Assistance Listing Number, Federal Agency, and Program Name - 84.268; U.S. Department of Education; Student Financial Assistance Cluster; Federal Direct Student Loan Program
Federal Award Identification Number and Year - June 1, 2022 to May 31, 2023
Finding Type - Material weakness and material noncompliance with laws and regulations
Repeat Finding - Yes
2021-012, 2022-008
Criteria - Institutions of higher education are required to establish written policies and procedures that incorporate the provisions of 34 CFR 668.51 through 668.61 for verifying applicant information. Institutions shall require each applicant whose application is selected by the U.S. Department of Education to verify the information required for the Verification Tracking Group to which the applicant is assigned.
Condition - The School does not have written policies and procedures that incorporate the provisions of 34 CFR 668.51 through 668.61.
Questioned Costs - None
Context - During our testing, management noted that the School does not have written verification procedures.
Cause and Effect - The School does not have a process in place to ensure that its verification procedures are documented in accordance with federal regulations.
The lack of written verification procedures of the School results in noncompliance with federal regulations.
Recommendation - We recommend the School establish written verification procedures and that contemporaneous evidence of consistent adherence to such procedures be maintained.
Views of Responsible Officials and Planned Corrective Actions - There is no disagreement with the audit finding. The Iliff School of Theology has contracted with a professional, third party processing company to administer its student assistance programs. All verification procedures are established, and documentation will be maintained to demonstrate compliance.