Finding 612367 (2022-001)

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Requirement
L
Questioned Costs
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Year
2022
Accepted
2023-01-02
Audit: 25057
Organization: Springfield College (MA)
Auditor: Cohnreznick LLP

AI Summary

  • Core Issue: The FISAP was inaccurately prepared, leading to a need for correction and resubmission.
  • Impacted Requirements: Compliance with the U.S. Department of Education's reporting criteria, specifically under 34 CFR 668.16(i).
  • Recommended Follow-Up: Review and enhance reconciliation practices to ensure accurate reporting on the FISAP before submission.

Finding Text

Identification of the Federal Program: Student Financial Assistance Cluster, United States Department of Education Compliance Requirement: Reporting Criteria: The United States Department of Education 2021-2022 Federal Student Aid Handbook Volume 6 Chapter 1 requires that an institution prepare and file a FISAP on an annual basis. Section 34 CFR 668.16(i) covers this requirement. Condition: During testing of the FISAP, the auditor noted that Part II Section F of the FISAP, which was a required part of the FISAP to be tested under the Uniform Guidance regulations, that was prepared inaccurately. This resulted in the FISAP having to be corrected and resubmitted. Cause: The errors appear to have been made due to inaccurate reconciliations of the underlying source data to the FISAP. Effect: The effect of this condition is noncompliance with U.S. Department of Education regulations. Questioned Costs: N/A Context: Our testing noted that certain graduate students were inaccurately reported as undergraduate students within Part II Section F and Part VI Section A of the FISAP. We noted six errors in our population of forty students tested. Once alerted of these variances, management took corrective action to review the entire student population and amended the FISAP submission. Recommendation: We recommend that the College review its current reconciliation practices on the FISAP and implement additional controls to ensure that the figures reported on the FISAP reconcile to source documentation prior to submission of the final report. Springfield College Schedule of Findings and Questioned Costs Year Ended June 30, 2022 53 Views of Responsible Officials and Planned Corrective Actions: Management Response: Springfield College concurs with this finding and will follow the advice from CohnReznick for remediation.

Categories

Student Financial Aid Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund Higher Ed Emergency Relief Fund Student Aid Portion $4.46M
84.425 Education Stabilization Fund Higher Ed Emergency Relief Fund Institutional Aid Portion $4.43M
84.268 Federal Direct Student Loans $2.76M
84.038 Federal Perkins Loan Program $1.96M
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $1.01M
84.033 Federal Work-Study Program $515,591
94.006 Americorps $295,908
84.129 Rehabilitation Long-Term Training $191,629
84.063 Federal Pell Grant Program $89,429
93.761 Evidence-Based Falls Prevention Programs Financed Solely by Prevention and Public Health Funds (pphf) $83,123
84.007 Federal Supplemental Educational Opportunity Grants $6,098
93.068 Chronic Diseases: Research, Control, and Prevention $5,946