Finding 963604 (2023-003)

Material Weakness Repeat Finding
Requirement
N
Questioned Costs
-
Year
2023
Accepted
2024-03-28

AI Summary

  • Core Issue: The University is not returning unearned Title IV funds accurately or on time when students withdraw, leading to financial discrepancies.
  • Impacted Requirements: This violates 34 CFR 668.22, with questioned costs totaling $12,304 due to inaccuracies in 11 student cases.
  • Recommended Follow-Up: Financial aid should collaborate with the registrar to ensure timely attendance tracking and implement a secondary review of R2T4 calculations to meet the 45-day return requirement.

Finding Text

Inaccurate and Untimely Returns of Title IV Funds (R2T4) Material Weakness DEPARTMENT OF EDUCATION ALN #: 84.268, 84.063, 84.007, and 84.379 Federal Award Identification #: 2022-2023 Financial Aid Year Condition: When students withdrew either officially or unofficially, the University did not always return unearned Title IV aid timely or accurately. Criteria: 34 CFR 668.22 Questioned Costs: $12,304 Context: Out of 51 withdrawal students tested, we noted a total of 11 students that had a late return of Title IV aid and their return amounts totaled $12,304. For these 11 returns, 6 of them were inaccurate resulting in 4 students under awarded $1,727 and 2 students over awarded $514. We noted an additional 5 students with inaccurate but timely returns resulting in the students being under awarded $8,786. Cause: We noted this was caused by continued challenges with the complexity of modular withdrawal regulations, particularly due to a high number of students with all failing grades in these programs. Additionally the financial aid office is not receiving attendance details timely to process returns timely. The inaccurate returns were caused by using incorrect calendars or the system taking off all aid and these amounts were not included in the amounts that could have been disbursed in the calculations. Effect: Incorrect amount of unearned or earned Title IV funds returned and untimely returns. Identification as repeat finding, if applicable: 2022-002 Recommendation: We continue to recommend that the financial aid office work with the registrar office and those monitoring attendance to ensure that students who stop attending after 2 weeks are followed up on timely to determine if R2T4's are required and ensure that funds are returned within the required 45 days. We also continue to recommend the University have a secondary review of each calendar set up for R2T4 calculations to ensure the correct number of days is used. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.

Categories

Student Financial Aid Subrecipient Monitoring Material Weakness Reporting

Other Findings in this Audit

  • 387156 2023-002
    Material Weakness
  • 387157 2023-002
    Material Weakness
  • 387158 2023-002
    Material Weakness
  • 387159 2023-002
    Material Weakness
  • 387160 2023-002
    Material Weakness
  • 387161 2023-002
    Material Weakness
  • 387162 2023-003
    Material Weakness Repeat
  • 387163 2023-003
    Material Weakness Repeat
  • 387164 2023-003
    Material Weakness Repeat
  • 387165 2023-003
    Material Weakness Repeat
  • 387166 2023-004
    Material Weakness
  • 387167 2023-004
    Material Weakness
  • 387168 2023-005
    Significant Deficiency
  • 387169 2023-006
    Significant Deficiency
  • 387170 2023-006
    Significant Deficiency
  • 387171 2023-006
    Significant Deficiency
  • 387172 2023-006
    Significant Deficiency
  • 387173 2023-006
    Significant Deficiency
  • 387174 2023-006
    Significant Deficiency
  • 387175 2023-007
    -
  • 387176 2023-008
    -
  • 387177 2023-009
    -
  • 387178 2023-009
    -
  • 963598 2023-002
    Material Weakness
  • 963599 2023-002
    Material Weakness
  • 963600 2023-002
    Material Weakness
  • 963601 2023-002
    Material Weakness
  • 963602 2023-002
    Material Weakness
  • 963603 2023-002
    Material Weakness
  • 963605 2023-003
    Material Weakness Repeat
  • 963606 2023-003
    Material Weakness Repeat
  • 963607 2023-003
    Material Weakness Repeat
  • 963608 2023-004
    Material Weakness
  • 963609 2023-004
    Material Weakness
  • 963610 2023-005
    Significant Deficiency
  • 963611 2023-006
    Significant Deficiency
  • 963612 2023-006
    Significant Deficiency
  • 963613 2023-006
    Significant Deficiency
  • 963614 2023-006
    Significant Deficiency
  • 963615 2023-006
    Significant Deficiency
  • 963616 2023-006
    Significant Deficiency
  • 963617 2023-007
    -
  • 963618 2023-008
    -
  • 963619 2023-009
    -
  • 963620 2023-009
    -

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $21.60M
84.063 Federal Pell Grant Program $6.22M
84.425 Covid-19 Education Stabilization Fund Heerf - Institutional Portion $4.09M
84.425 Covid-19 Education Stabilization Fund Heerf - Minority Serving Institutions $1.29M
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $426,874
84.033 Federal Work-Study Program $389,051
84.007 Federal Supplemental Educational Opportunity Grants $324,032
84.038 Federal Perkins Loan Program $269,283
84.425 Covid-19 Education Stabilization Fund Heerf - Student Aid Portion $26,000