FAC Explorer

Finding 945515 (2022-002)

Significant Deficiency Repeat Finding
Requirement
N
Questioned Costs
-
Year
2023
Accepted
2024-02-14
Audit: 290469
Organization: Wheeling Jesuit University INC (WV)
Auditor: Baker Tilly US LLP

AI Summary

  • Core Issue: The University failed to reconcile its School Account Statement (SAS) data with financial records for the entire fiscal year, repeating a prior finding.
  • Impacted Requirements: This deficiency violates federal requirements for maintaining an adequate system of internal controls over federal programs.
  • Recommended Follow-Up: Implement timely SAS reconciliation procedures and fill the vacant financial aid director position to ensure compliance with federal regulations.

Finding Text

Finding 2022-002 - Significant Deficiency - Review of School Account Statement (SAS) Reconciliations Repeat of Prior Year Finding 2021-004 Program: Federal Direct Student Loans Assistance Listing Number: 84.268 Federal Agency: U.S. Department of Education Federal Award Year: June 30, 2022 Criteria: Recipients of federal awards are required to administer its federal programs with an adequate system of internal controls over applicable compliance requirements. Condition: The University did not reconcile its SAS data file to its financial records for all 12 months of the fiscal year.   Cause: Lack of competency and turnover in the financial aid office contributed to the University not being able to perform the reconciliations in the required timeframe. Effect: The potential exists that an error could occur in the financial records and not be detected and corrected within a timely manner by employees in the normal course of performing their assigned functions. Questioned Costs: Not applicable. Context: The key position of financial aid director was vacant for part of the testing period. This position is responsible for proper enrollment reporting. Recommendation: The University should implement policies and procedures to ensure that the monthly SAS reconciliations are performed on a timely basis and correct all errors to adhere to federal regulations. Management's Response: Management agrees with this finding and has recognized their need for a qualified individual who is knowledgeable about financial aid requirements.

Categories

Student Financial Aid Reporting Significant Deficiency Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties

Other Findings in this Audit

  • 369070 2022-005
    Material Weakness Repeat
  • 369071 2022-005
    Material Weakness Repeat
  • 369072 2022-006
    Significant Deficiency
  • 369073 2022-002
    Significant Deficiency Repeat
  • 369074 2022-003
    - Repeat
  • 369075 2022-004
    -
  • 369076 2022-006
    Significant Deficiency
  • 369077 2022-007
    Significant Deficiency Repeat
  • 369078 2022-007
    Significant Deficiency Repeat
  • 369079 2022-008
    -
  • 369080 2022-008
    -
  • 369081 2022-009
    - Repeat
  • 369082 2022-009
    - Repeat
  • 945512 2022-005
    Material Weakness Repeat
  • 945513 2022-005
    Material Weakness Repeat
  • 945514 2022-006
    Significant Deficiency
  • 945516 2022-003
    - Repeat
  • 945517 2022-004
    -
  • 945518 2022-006
    Significant Deficiency
  • 945519 2022-007
    Significant Deficiency Repeat
  • 945520 2022-007
    Significant Deficiency Repeat
  • 945521 2022-008
    -
  • 945522 2022-008
    -
  • 945523 2022-009
    - Repeat
  • 945524 2022-009
    - Repeat

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $7.17M
84.038 Federal Perkins Loan Program $1.27M
84.063 Federal Pell Grant Program $882,038
93.859 Biomedical Research and Research Training $243,170
84.425 Education Stabilization Fund $178,333
84.007 Federal Supplemental Educational Opportunity Grants $118,500
84.033 Federal Work-Study Program $94,730
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $15,088
93.364 Nursing Student Loans $2,025