Finding 609175 (2022-002)

-
Requirement
N
Questioned Costs
-
Year
2022
Accepted
2023-02-23
Audit: 29383
Organization: Paine College (GA)

AI Summary

  • Core Issue: One student’s funds were not returned to the U.S. Department of Education within the required 45 days, indicating a compliance failure.
  • Impacted Requirements: This finding violates federal regulations governing Title IV programs, which could lead to sanctions against the College.
  • Recommended Follow-Up: The College should take corrective actions to prevent this issue from happening again in the future.

Finding Text

Finding 2022-002 - U.S. Department of Education (USDE). Title IV Student Financial Aid Programs: Information on the federal program: Federal Direct Student Loans, CFDA No. 84.268, June 30, 2022; Federal Pell Grants Program, CFDA No. 84. 063, June 30, 2022; Federal Supplemental Educational Opportunity Grant, CFDA No. 84. 007, June 30, 2022; Federal Work-Study Program, CFDA No. 84.033, June 30, 2022. Criteria - Federal regulations governing Title IV programs. Condition - non-compliances were noted, as more fully described in the context below. Questioned Costs -As provided below. Context- We observed the following conditions in connection with our testing of the various U.S. Department of Education, Title IV, Student Financial Assistance Programs. ? We noted in our testing that one (1) out of twenty-five (25) students selected for R2T4 testing did not have his/her funds returned to the U.S. Department of Education within the required 45 days. Cause - Oversight by responsible employees. Effect - The College's participation in the Title IV programs could be subject to USDE sanctions as applicable. Repeat Finding - No Auditor's Recommendation - The College should implement corrective actions to ensure the above finding is resolved and will not recur in future periods.

Categories

Student Financial Aid Matching / Level of Effort / Earmarking

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $1.46M
84.425 Education Stabilization Fund $1.30M
84.063 Federal Pell Grant Program $967,622
84.031 Higher Education_institutional Aid $569,270
84.047 Trio_upward Bound $514,864
84.033 Federal Work-Study Program $300,326
84.007 Federal Supplemental Educational Opportunity Grants $234,244
84.042 Trio_student Support Services $206,632
84.120 Minority Science and Engineering Improvement $153,174
16.525 Grants to Reduce Domestic Violence, Dating Violence, Sexual Assault, and Stalking on Campus $61,682
47.076 Education and Human Resources $60,363