Finding 598257 (2022-002)

-
Requirement
N
Questioned Costs
$1
Year
2022
Accepted
2022-11-29

AI Summary

  • Core Issue: One refund calculation for a drop student was incorrect, leading to non-compliance with federal regulations.
  • Impacted Requirements: The institution failed to follow the Return to Title IV refund calculation as mandated by 34 CFR 668.22.
  • Recommended Follow-Up: Return $1,592 to the Department of Education and enhance controls over refund calculations to prevent future errors.

Finding Text

FINDING 2022-002: INCORRECT REFUND CALCULATION FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION PROGRAM NAME: FEDERAL PELL GRANT PROGRAM AND FEDERAL DIRECT LOAN PROGRAM ALN#: 84.268 & 84.063 FEDERAL AWARD YEAR: 2021-2022 Compliance Requirement: Special Tests and Provisions (N.) - Return of Title IV Funds Criteria: An institution must use the Return to Title IV refund calculation (34 CFR 668.22). Condition: We tested twelve drop students and found one incorrect refund calculation. We consider this finding to be an instance of non-compliance. Cause: The condition was caused by an error in Steps 1 and 5 of the Return to Title IV refund calculation. Effect: As a result, the Institution is holding funds that need to be returned to the Department. Question Costs: $1,592 Statistical sampling was not used when making sample selections. See Schedule of Findings and Questioned Costs for chart/table Recommendation: We recommend the Institution return $1,592 to the Department of Education and increase controls over refund calculations. Views of Responsible Officials: The Institution agrees with the Single Audit Finding and a response is included in the Corrective Action Plan.

Categories

Questioned Costs Student Financial Aid Matching / Level of Effort / Earmarking Special Tests & Provisions

Other Findings in this Audit

  • 21815 2022-002
    -
  • 21816 2022-003
    - Repeat
  • 21817 2022-001
    - Repeat
  • 21818 2022-002
    -
  • 21819 2022-003
    - Repeat
  • 21820 2022-004
    Material Weakness
  • 21821 2022-005
    Material Weakness
  • 21822 2022-006
    Material Weakness
  • 21823 2022-007
    Material Weakness
  • 21824 2022-008
    Material Weakness
  • 21825 2022-004
    Material Weakness
  • 21826 2022-005
    Material Weakness
  • 21827 2022-006
    Material Weakness
  • 21828 2022-007
    Material Weakness
  • 21829 2022-008
    Material Weakness
  • 598258 2022-003
    - Repeat
  • 598259 2022-001
    - Repeat
  • 598260 2022-002
    -
  • 598261 2022-003
    - Repeat
  • 598262 2022-004
    Material Weakness
  • 598263 2022-005
    Material Weakness
  • 598264 2022-006
    Material Weakness
  • 598265 2022-007
    Material Weakness
  • 598266 2022-008
    Material Weakness
  • 598267 2022-004
    Material Weakness
  • 598268 2022-005
    Material Weakness
  • 598269 2022-006
    Material Weakness
  • 598270 2022-007
    Material Weakness
  • 598271 2022-008
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $1.89M
84.425 Education Stabilization Fund $460,753
84.063 Federal Pell Grant Program $408,794
84.007 Federal Supplemental Educational Opportunity Grants $23,390