Finding Text
Return of Title IV (R2T4) Calculations DEPARTMENT OF EDUCATION
ALN #: 84.268, 84.063, 84.007 and 84.379
Federal Award Identification #: 2022-2023 Financial Aid Year
Condition: There was one incorrect calculation of returned funds for a student that withdrew during the term due to the incorrect calendar being used.
Criteria: 34 CFR 668.22
Questioned Costs: $-0-
Context: Out of 7 students, 1 students who withdrew during the audit period tested had incorrect funds returned. The student had $113 more of Pell funds returned than required.
Cause: The College uses a third party administrator to assist in the R2T4 calculations, and an incorrect calendar was used for the student.
Effect: Incorrect amount of unearned Title IV funds returned.
Identification as repeat finding, if applicable: Yes, 2022-001.
Recommendation: We recommend the College add a check for reviewing the appropriate calendar to be used for each student with the third party administrator.
Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.