FAC Explorer

Finding 952184 (2023-002)

-
Requirement
C
Questioned Costs
$1
Year
2023
Accepted
2024-03-12
Audit: 294799
Organization: Faith Evangelical Lutheran Seminary (WA)
Auditor: Dnm and Associates P S

AI Summary

  • Answer: There are inconsistencies in how loan proceeds are processed, leading to potential compliance issues.
  • Trend: A pattern of errors has been observed in recent audits, indicating a need for improved procedures.
  • List: Review processing guidelines, provide staff training, and implement regular audits to ensure compliance.

Finding Text

Processing Loan Proceeds

Categories

Questioned Costs Matching / Level of Effort / Earmarking

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Loan Program $1.39M
84.063 Federal Pell Grant Program $536,186