Finding 90884 (2022-007)

Significant Deficiency
Requirement
N
Questioned Costs
-
Year
2022
Accepted
2023-03-27
Audit: 79889
Organization: Presentation College (SD)
Auditor: Eide Bailly LLP

AI Summary

  • Core Issue: Nine out of 60 students did not receive required notifications for loan disbursements, violating compliance criteria.
  • Impacted Requirements: Notifications must be sent within 30 days before or after crediting student accounts, as per 34 CFR 668.165.
  • Recommended Follow-Up: Implement better tracking and monitoring of disbursement dates to ensure all notifications are sent as required.

Finding Text

2022-007 Department of Education Student Financial Aid Cluster CFDA # 84.033 ? Federal Work Study Program CFDA # 84.007 ? Federal Supplemental Educational Opportunity Grants (FSEOG) CFDA # 84.063 ? Federal Pell Grant Program CFDA # 84.268 ? Federal Direct Student Loans 2021-2022 Award Year Special Tests and Provisions: Disbursements to or on Behalf of Students ? Lack of Documentation for Disbursement Notices. Significant Deficiency in Internal Controls over Compliance Criteria: 34 CFR 668.165 sets forth the criteria which requires Presentation College to send notification to the student or parent no earlier than 30 days before, and no later than 30 days after, crediting the student?s account with a Direct loan. Condition: During 2022, out of the total of 60 students tested, 9 students did not receive proper notification of the loan disbursement required under the CFR. Cause: For the disbursements that occurred on October 26, 2021, and November 8, 2021, notifications were not made to students receiving aid on those dates. Effect: Students and/or parents were not made aware of the disbursement being received and so did not receive the communication required under CFR. Questioned Costs: None. Context/Sampling: A nonstatistical sample of 60 students who received Title IV disbursements out of 485 students who received aid. Repeat Finding from Prior Year(s): No. Recommendation: We recommend additional tracking and monitoring of the disbursement dates to ensure that required communication is completed for all disbursements date. Views of Responsible Officials: Management agrees with the finding.

Categories

Student Financial Aid Special Tests & Provisions Subrecipient Monitoring Allowable Costs / Cost Principles Significant Deficiency Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties

Other Findings in this Audit

  • 88179 2022-003
    Significant Deficiency Repeat
  • 88180 2022-006
    Significant Deficiency Repeat
  • 88181 2022-007
    Significant Deficiency
  • 90879 2022-002
    Material Weakness Repeat
  • 90880 2022-003
    Significant Deficiency Repeat
  • 90881 2022-004
    Significant Deficiency Repeat
  • 90882 2022-005
    Significant Deficiency
  • 90883 2022-006
    Significant Deficiency Repeat
  • 90885 2022-006
    Significant Deficiency Repeat
  • 90886 2022-007
    Significant Deficiency
  • 90887 2022-002
    Material Weakness Repeat
  • 90888 2022-003
    Significant Deficiency Repeat
  • 90889 2022-005
    Significant Deficiency
  • 90890 2022-006
    Significant Deficiency Repeat
  • 90891 2022-007
    Significant Deficiency
  • 90892 2022-008
    Significant Deficiency
  • 90893 2022-010
    Significant Deficiency
  • 90894 2022-009
    Significant Deficiency
  • 90895 2022-010
    Significant Deficiency
  • 90896 2022-002
    Material Weakness Repeat
  • 664621 2022-003
    Significant Deficiency Repeat
  • 664622 2022-006
    Significant Deficiency Repeat
  • 664623 2022-007
    Significant Deficiency
  • 667321 2022-002
    Material Weakness Repeat
  • 667322 2022-003
    Significant Deficiency Repeat
  • 667323 2022-004
    Significant Deficiency Repeat
  • 667324 2022-005
    Significant Deficiency
  • 667325 2022-006
    Significant Deficiency Repeat
  • 667326 2022-007
    Significant Deficiency
  • 667327 2022-006
    Significant Deficiency Repeat
  • 667328 2022-007
    Significant Deficiency
  • 667329 2022-002
    Material Weakness Repeat
  • 667330 2022-003
    Significant Deficiency Repeat
  • 667331 2022-005
    Significant Deficiency
  • 667332 2022-006
    Significant Deficiency Repeat
  • 667333 2022-007
    Significant Deficiency
  • 667334 2022-008
    Significant Deficiency
  • 667335 2022-010
    Significant Deficiency
  • 667336 2022-009
    Significant Deficiency
  • 667337 2022-010
    Significant Deficiency
  • 667338 2022-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $3.85M
84.063 Federal Pell Grant Program $1.04M
84.425 Covid - 19, Education Stabilization Fund $579,418
84.038 Federal Perkins Loan Program $380,225
84.425 Covid -19 - Education Stabilization Fund $85,050
84.007 Federal Supplemental Educational Opportunity Grants $63,316
84.033 Federal Work-Study Program $45,246
21.019 Covid - 19 Coronavirus Relief Fund $32,978