Finding Text
Information on the Federal Program:
Federal Agency: United States Department of Educations
Program Name: Student Financial Assistance Cluster
CFDA: 84.268, 84.033, 84.038
Federal Award Identification Number: N/A
Federal Award Year: Year Ended June 30, 2023
Specific Requirement: The School outsources the billings, collections and due diligence for the Federal Perkins Loan Program to a third party, University Accounting Services (UAS). UAS engages an independent accountant to perform a compliance examination of UAS’s compliance with those requirements. The School could not obtain an audit report for the servicer of its Perkins Loans program, University Accounting Services (UAS).
Condition Found: The School could not obtain the compliance examination report due to the fact that the compliance examination was not completed timely.
Questioned Costs: None.
Cause and Effect: UAS’s compliance with the billings, collections and due diligence for the Federal Perkins Loan Program for the School could not be determined.
Recommendation: We recommend management work with their UAS representative to obtain the UAS compliance examination report on a timely basis each year. If UAS is unable to provide the compliance examination report on a timely basis, we recommend management consider finding another vendor to assist with the billings, collections and due diligence for the Federal Perkins Loan Program.
Repeat Finding: No.
Views of a Responsible Official and Correction Action Plan:See Corrective Action Plan.