EIN: 231484178
UEI: NT9ZXAKM3CR3
Data as of August 21, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on April 11, 2025. Under 2 CFR 200.521(d), a pass-through entity that provided federal funds to this organization for this audit period must issue a management decision on these findings by October 11, 2025, which was (314 days ago).
What is a management decision? →During the Spring semester, the College did not minimize the time between fund transfers and return of excess funds for drawdowns made from late January through February 2024. Criteria: The Advance Payment Method requires that the College disburse the requested funds no later than three business days following receipt of funds received from the Education Department. Context: A review of the entire population of drawdowns for the Student Financial Aid cluster for the entire year was performed and as such, the sample is statistically valid. Cause: The student information system used by the College malfunctioned in the creation of duplicate batches of awards for students. Students in duplicated batches (for which money had been drawn down) were now in new batches- resulting in overdrawn funds. Effect: The College did not refund excess funds drawn on a timely basis. It took them until May 2024 to fully research the system issues and make the necessary corrections and refunds. Questioned costs: $100,467 Recommendation: The College should review its procedures related to the request and disbursement of federal funds, including controls over compliance, to ensure they are following the advance payment method and establish controls to ensure it complies with the federal requirement. Views of Responsible Officials and Planned Corrective Actions: Management agrees with this finding and implemented a new tracking system in July 2024 for daily reconciliation of award batch detail along with specific individual training to ensure staff follows compliance responsibilities and understand the requirements of the program. The Controller and Financial Aid Director meet monthly to discuss any potential gaps in compliance.
Show full finding ▾Hide full finding ▴SECTION III Federal Award Findings and Questioned Costs 2024-001 Significant Deficiency – Federal Direct Loan Cash Management Programs: Federal Direct Loan Program, Pell Grant Program Assistance Listing Numbers: 84.268 and 84.007 Federal Award Identification Number: NT9ZXAKM3CR3 Federal Agency: U.S. Department of Education Federal Award Year: June 30, 2024 Condition: During the Spring semester, the College did not minimize the time between fund transfers and return of excess funds for drawdowns made from late January through February 2024. Criteria: The Advance Payment Method requires that the College disburse the requested funds no later than three business days following receipt of funds received from the Education Department. Context: A review of the entire population of drawdowns for the Student Financial Aid cluster for the entire year was performed and as such, the sample is statistically valid. Cause: The student information system used by the College malfunctioned in the creation of duplicate batches of awards for students. Students in duplicated batches (for which money had been drawn down) were now in new batches- resulting in overdrawn funds. Effect: The College did not refund excess funds drawn on a timely basis. It took them until May 2024 to fully research the system issues and make the necessary corrections and refunds. Questioned costs: $100,467 Recommendation: The College should review its procedures related to the request and disbursement of federal funds, including controls over compliance, to ensure they are following the advance payment method and establish controls to ensure it complies with the federal requirement. Views of Responsible Officials and Planned Corrective Actions: Management agrees with this finding and implemented a new tracking system in July 2024 for daily reconciliation of award batch detail along with specific individual training to ensure staff follows compliance responsibilities and understand the requirements of the program. The Controller and Financial Aid Director meet monthly to discuss any potential gaps in compliance.
This Corrective Action Plan is in response to Lancaster Bible College’s single audit report for the fiscal year ended June 30, 2024, prepared by Tait, Weller & Baker. Finding 2024-001 Recommendation: The College should review its procedures related to the request and disbursement of federal funds, including controls over compliance, to ensure they are following the advance payment method and establish controls to ensure it complies with the federal requirement. Corrective Action: In July 2024, a new tracking system was implemented for daily reconciliation of award batch detail along with specific individual training to ensure staff follows compliance responsibilities and understand the requirements of the program. The Controller and Financial Aid Director meet monthly to discuss any potential gaps in compliance. Person Responsible for Corrective Action: Matthew Mason, Vice President of Finance Anticipated Completion Date: The Corrective Action Plan was corrected during July 2024.
Data source: This information comes from the Federal Audit Clearinghouse, the official repository of Single Audit data. All data is public domain. Verify this organization's audit history at fac.gov.
Try tracking your findings and corrective action plans today — we're actively building this out and want your input on what an organization like yours actually needs.
Start tracking findings →Monitor subrecipient audit findings and compliance status.
Start monitoring →© 2026 Single Audit Intelligence. All data is public domain.