Finding Text
FINDING 2022-002: INCORRECT REFUND CALCULATIONS FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION PROGRAM NAME: FEDERAL PELL GRANT PROGRAM ALN#: 84.063 FEDERAL AWARD YEAR: YEAR ENDED DECEMBER 31, 2022 Compliance Requirement: Special Tests and Provisions - Return of Title IV Funds (N.) Criteria: An institution must use the Return to Title IV refund calculation (34 CFR 668.22). Condition: We tested thirteen drop students and found two incorrect refund calculation. We consider this finding to be a significant deficiency. This is a repeat of prior year Finding 2021-003. Cause: The condition was caused by not properly adjusting days for a break at Step 2 of the Return to Title IV refund calculation. Effect: The result is the Institution returned funds to the Department of Education that should have been retained by the Institution. Question Costs: $0 Statistical sampling was not used when making sample selections. See schedule of findings and questioned costs for table. Recommendation: We recommend the Institution credit $304 to the students' accounts and tighten 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.