Finding 2013-005, continued:
Recommendation:
We recommend the University review its current procedures in regards to reviewing the withdrawal date in order to ensure funds are being returned in the proper amount to the federal government.
Current year status:
This finding was resolved in the current year.
Finding 2013-006:
Federal Program: U.S. Department of Education Federal Supplemental Educational Opportunity Grants Program, CFDA 84.007 Federal Work-Study Program, CFDA 84.033 Federal Perkins Loan Program, CFDA 84.038 Federal Pell Grant Program, CFDA 84.063 Federal Direct Student Loans Program, CFDA 84.268 Academic Competitiveness Grant, CFDA 84.375 National Science and Mathematics Access to Retain Talent Grant, CFDA 84.376 Teacher Education Assistance for College and Higher Education Grant, CFDA 84.377
During our testing of 40 students that withdrew from the University and received some type of Title IV funds during the 2012-13 academic year, we noted that 20 calculations resulted in funds not returned in accordance with federal regulations due to the use of an inaccurate number of days in the spring term. The University's calculation did not include the full spring break which was eight consecutive days in length resulting in excess funds returned.
Per the provision of CFR 34 §668.22, the total number of calendar days in a payment period or period of enrollment includes all days within the period that the student was scheduled to complete, except that scheduled breaks of at least five consecutive days are excluded from the total number of calendar days in a payment period or period of enrollment.
The University currently does not have adequate controls in place to ensure the Return of Title IV Funds calculations are being completed properly.
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