Finding Text
Federal Pell Grant Program, Assistance Listing Number 84.063
Federal Direct Student Loans, Assistance Listing Number 84.268
Federal Supplemental Educational Opportunity Grants, Assistance Listing Number 84.007
Federal Work Study Program, Assistance Listing Number 84.033
Teacher Education Assistance for College and Higher Education Grants, Assistance Listing Number 84.379
U.S. Department of Education
Program Year 2022-2023
Criteria or specific requirement – Special Tests and Provisions – Return of Title IV Funds (34 CFR 668.173(b); 34 CFR 668.22(e); 34 CFR 668.22(g) and 34 CFR 668.22(i). Federal Regulations state that the return of Title IV Funds must be made in the proper amount and in a timely manner as well as apply the return of Title IV Funds to Federal programs as required.
Condition – The University’s processes did not ensure the days in the semester were consistently calculated correctly to calculate the return of Title IV funds correctly.
Questioned costs – $1,106 (Assistance Listing Number 84.063 - $16; Assistance Listing Number 84.268 - $1,090)
Context – Out of the population of 266 students that withdrew during the year, 25 students were tested. During testing, nine instances were noted in which the total days in the semester were not calculated correctly which resulted in the calculation of an incorrect refund amount. The sample was not, and was not intended to be, statistically valid.
Effect – Title IV Funds were under returned to the U.S. Department of Education during the year.
Cause – Lack of oversight by management and of secondary review of calculations in a sufficient manner to resolve calculation errors.
Identification as repeat finding, if applicable – N/A
Recommendation – Controls and procedures should be reviewed to ensure calculation of Return of Title IV is completed accurately and properly reflects the student’s semester data.
Views of responsible officials and planned corrective actions – Management acknowledges and understands the findings of the Return of Title IV fund calculations related to the calendar setup. The calendar dates have been reviewed and corrected and all funds related to the recalculation have been returned to the Department of Education. Going forward, there will be an additional review of the calendar completed by the Director of Student Financial Services prior to the start of the academic year.