Finding Text
Finding No. 2022-009?Special Tests ? Institutional Eligibility Federal Agency: U.S. Department of Education Program: Student Financial Aid Cluster: ALN 84.268, 84.033, 84.063, 84.007, 84.038 Criteria: 34 CFR 600.21(d) requires an eligible institution must report to the Secretary in a manner prescribed by the Secretary no later than 10 days after the change occurs, of any change including a change in the chief financial officer or the individual the institution designates under 34 CFR 668.16(b)(1) as its title IV, HEA Program administrator. Condition: Out of two reportable changes noted during the year, none were reported within 10 days. The chief financial officer and financial aid administrator both changed before or as of June 30, 2022, and were not reported until November 14, 2022. Questioned Costs: None Prevalence: No changes in chief financial officer or financial aid administrator were reported for the year ended June 30, 2022. The sample was not intended to be, and was not, a statistically valid sample. Effect: Not following reporting requirements could result in the DOE withholding payments to the Conservatory. Cause: There was significant turnover in the finance and financial aid department and a lack of understanding of the reporting requirements. Recommendation: We recommend that the Conservatory implement a formal process where, if there is a change in personnel or service providers that are required to be reported as outlined in the CFR, to ensure that the change is reported to the DOE within the required timeframe. View of Responsible Officials and Planned Corrective Actions: Management agrees with the finding and corrective actions have been made.