Finding 584709 (2023-001)

Significant Deficiency
Requirement
N
Questioned Costs
-
Year
2023
Accepted
2024-01-11

AI Summary

  • Issue: The University does not have proper controls to confirm that students are informed about their financial aid and disbursement details before they receive funds.
  • Trend: This lack of notification could lead to confusion and potential financial mismanagement for students.
  • Recommendation: Implement a system to ensure timely communication of aid and disbursement information to students before funds are disbursed.

Finding Text

The Univeristy lacks verifiable controls to ensure student receiving financial aid are notified of their aid and disbursement details prior to the student receiving said disbursements.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 8267 2023-001
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $6.86M
84.063 Federal Pell Grant Program $1.92M
84.425 Education Stabilization Fund $1.55M
84.033 Federal Work-Study Program $75,041
84.007 Federal Supplemental Educational Opportunity Grants $64,951