Single Audit Report Fiscal Year Ended June 30, 2012 - State ...

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State of GeorgiaFederal Awards Findings and Questioned CostsFor the Fiscal Year Ended June 30, 2012ARMSTRONG ATLANTIC STATE UNIVERSITYFinding Control Number: FA-524-12-01SPECIAL TESTS AND PROVISIONSDeficiencies in Student Financial Assistance Refund ProcessStudent Financial Assistance Cluster ProgramCondition:Criteria:Questioned Cost:Information:The Student Financial Assistance office failed to properly perform the refund process and ensure thatthe unearned Title IV funds were accurately calculated and returned in the correct amount.Provisions included in 34 CFR 668 provide general requirements for administering Student FinancialAssistance (SFA) programs. Provisions included in 34 CFR 685 provide eligibility and other relatedprogram requirements that are specific to the William D. Ford Direct Student Loan Program.Questioned costs of $2,633.39 were identified in the sample of student refunds, which when projectedover the entire population, resulted in a projected misstatement of $16,010.85.Twenty-five students that received Federal financial assistance and either officially or unofficiallywithdrew from the University were randomly selected to determine if refunds were calculated andreturned in the correct amount to the proper funding agency and/or student.Our examination revealed two instances where the University failed to accurately calculate the amountof earned and unearned Federal financial assistance funds after receiving notification of the student'swithdrawal. The University did not include all institutional charges when calculating these refunds.This resulted in an underpayment of Title IV funds returned to the U. S. Department of Education bythe University in the amount of $2,633.39.Cause:Effect:Recommendation:This deficiency was the result of management's failure to properly calculate student financialassistance refunds in accordance with Federal regulations.The SFA Office failed to accurately calculate funds earned and unearned when determining the amountof unearned Title IV funds to be returned.The University should develop and implement procedures to ensure that Student Financial Assistancerefunds are properly calculated and returned in accordance with the Higher Education Amendments of1998, Public Law 105-244. The University should contact the U. S. Department of Educationregarding resolution of this finding.GEORGIA PERIMETER COLLEGEFinding Control Number: FA-571-12-01REPORTINGReports Not ReconciledU. S. Department of EducationStudent Financial Assistance Cluster ProgramCondition:Criteria:Information:Fiscal year 2011 amounts reported on the Fiscal Operations and Application to Participate (FISAP)report submitted by the College to the U. S. Department of Education were not properly reconciled.Federal regulations (34 CFR 668.24, 34 CFR 675.19, 34 CFR 690.81 and 34 CFR 690.83) require theCollege to ensure that reported information is accurate and reconciled as necessary.The fiscal year 2011 FISAP report included amounts reported for Tuition and Fees for Undergraduates,State Grant and Scholarships Made to Undergraduates, Information on Eligible Aid Applicants120
State of GeorgiaFederal Awards Findings and Questioned CostsFor the Fiscal Year Ended June 30, 2012Enrolled in the College, the Pell Grant Program, the Federal Work-Study Program and the FederalSupplemental Educational Opportunity Grant Program that did not reconcile to the accounting records.Cause:Effect:This deficiency was a result of management's failure to adequately reconcile information submitted onthe FISAP with activity recorded in the accounting records.Information submitted to the U. S. Department of Education was not accurate and was not supportedby the accounting records.Recommendation: The College should implement policy and procedures to ensure that all reports submitted to the U. S.Department of Education are accurately completed and supported by the accounting records. TheCollege should also contact the U. S. Department of Education regarding the resolution of this finding.Finding Control Number: FA-571-12-02SPECIAL TESTS AND PROVISIONSInadequate Control Procedures over Unofficial WithdrawalsU. S. Department of EducationStudent Financial Assistance Cluster ProgramCondition:Criteria:Questioned Cost:Information:The College did not have adequate internal control procedures in place to identify students whounofficially withdraw during an academic semester.34 CFR 668.22 provides requirements over the treatment of Title IV funds when a student withdraws.The College is required to determine the amount of Title IV grant that the student earned as of thestudent's withdrawal date when a recipient of a Title IV grant withdraws from an institution during apayment period or period of enrollment in which the recipient began attendance. A refund must bereturned to Title IV programs when the total amount of Title IV grant that the student earned is lessthan the amount of Title IV grant that was disbursed to the student as of the withdrawal date.Questioned costs of $16,736 were identified for students who received student financial assistance inexcess of the amount earned as of the determined withdrawal date. The College performed proceduresto estimate likely questioned costs of $897,366. Auditor performed procedures to ensure the College'sestimate was reasonable.A sample of twenty-five financial assistance files was selected to determine if financial assistance wasproperly calculated and disbursed to students. This sample revealed six students that unofficiallywithdrew from the College.This matter was brought to the attention of the College. The College was asked to determine thenumber of students and the amount of the refunds related to the unofficial withdrawals.The College determined that 4,243 students earning less than 60% of Title IV aid disbursedunofficially withdrew during the period under review. The likely estimated refunds related to theseunofficial withdrawals were $897,366.As of the end of fieldwork, the College was in the process of performing the required refundcalculations and refunding Title IV aid to the U. S. Department of Education.Cause:Effect:This deficiency occurred because the College's management did not have procedures in place toidentify unofficial withdrawals that received Title IV funds.The College did not properly calculate a refund for students who unofficially withdrew. UnearnedTitle IV funds are not being returned as required.121
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