Finding Text
Of the total HEERF III Institutional expenditures of $1,467,000, the College claimed $1,061,426 as lost room and board revenue for the year ended June 30, 2022. In connection with our audit, the College provided us with a listing of lost room and board revenue totaling $1,392,505 that was claimed for both HEERF III institutional funds as well as a COVID-19 relief grant provided by the State of Vermont. Since the population was not segregated between HEERF funds and the State grant, we subjected the total lost room and board revenue detail to our allowability procedures. During our testwork, we identified 3 students in our sample of 25, that attended and paid room & board for a portion of the semester; however, the College included the full semester amount of room and board in their lost room and board revenue detail. We also noted 1 student in our sample of 25 where the incorrect room & board rate was used to calculate the lost revenue.