EIN: 362167842
UEI: M2GBZJ6D3P96
Audited by: Baker Tilly US, LLP
Oversight agency: 84 [Department of Education]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on February 12, 2026. 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 August 12, 2026 (22 days ago).
What is a management decision? →FAC accepted this audit on January 2, 2025 — management decision was due July 2, 2025.
FAC accepted this audit on March 20, 2024 — management decision was due September 20, 2024.
FAC accepted this audit on December 1, 2022 — management decision was due June 1, 2023.
FAC accepted this audit on December 5, 2021 — management decision was due June 5, 2022.
We noted that one student that was selected for testing had a credit balance that was a direct result of Title IV funding. The University did not pay the funds to the student within 14 days. Cause: The current policy of the University is to require students to request refunds when an account balance becomes a credit. Effect: Due to the current policy requiring students to request refunds, the University does not track credit balances cause by Title IV funding separately for payment within the 14 day requirement. This may results in a credit balance caused by Title IV funding to be held past the 14 day window with no prior authorization from the student or parent. Recommendation: We recommend the University review their policies and procedures surrounding credit balances on student accounts cause by Title IV funding to ensure they obtain prior authorization from the student or parents to hold the funds on account or refund the student within the 14 day requirement. Management's Response: Rockford University's Student Administrative Services Office has implemented two additional procedures to prevent this from reoccurring. 1. At the point of initial registration, students will be required to complete a form that indicates how they would prefer and over-payments be handled. They will be given the option(s) to: a. Have the credit left of their account, b. Have the credit issued to them (or parent, if applicable) or, c. Have the credit amount funds returned to the lender (if applicable). 2. An additional team member will review credit balances weekly to identify any credits due to Title IV aid.
Show full finding ▾Hide full finding ▴Federal Program - Federal direct student loans Federal Agency - U.S Department of Education Pass-Through Entity - Not Applicable CFDA Number - 84.268 Federal Award Number 48575901 Federal Award Year - June 30, 2021 Criteria: In accordance with Federal direct student loans, the University is required to remit payments to students' that have account statements that have a credit balance cause by Title IV funding under 34 CFR 685.300(b)(9). Condition: We noted that one student that was selected for testing had a credit balance that was a direct result of Title IV funding. The University did not pay the funds to the student within 14 days. Cause: The current policy of the University is to require students to request refunds when an account balance becomes a credit. Effect: Due to the current policy requiring students to request refunds, the University does not track credit balances cause by Title IV funding separately for payment within the 14 day requirement. This may results in a credit balance caused by Title IV funding to be held past the 14 day window with no prior authorization from the student or parent. Recommendation: We recommend the University review their policies and procedures surrounding credit balances on student accounts cause by Title IV funding to ensure they obtain prior authorization from the student or parents to hold the funds on account or refund the student within the 14 day requirement. Management's Response: Rockford University's Student Administrative Services Office has implemented two additional procedures to prevent this from reoccurring. 1. At the point of initial registration, students will be required to complete a form that indicates how they would prefer and over-payments be handled. They will be given the option(s) to: a. Have the credit left of their account, b. Have the credit issued to them (or parent, if applicable) or, c. Have the credit amount funds returned to the lender (if applicable). 2. An additional team member will review credit balances weekly to identify any credits due to Title IV aid.
Condition: We noted one student that was selected for testing had a credit balance that was a direct result of Title IV funding. The University did not obtain written authorization from the student or parent to hold the credit balance on account and did not pay the funds to the student within 14 days. Corrective Action Plan: Rockford University's Student Administrative Services Office has implemented two additional procedures to prevent this from reoccurring. 1. At the point of initial registration, students will be required to complete a form that indicates how they would prefer and over-payments be handled. They will be given the option(s) to: a. Have the credit left of their account, b. Have the credit issued to them (or parent, if applicable) or, c. Have the credit amount funds returned to the lender (if applicable). 2. An additional team member will review credit balances weekly to identify any credits due to Title IV aid.
FAC accepted this audit on August 25, 2021 — management decision was due February 25, 2022.
FAC accepted this audit on February 12, 2020 — management decision was due August 12, 2020.
FAC accepted this audit on January 7, 2019 — management decision was due July 7, 2019.
GSA_MIGRATION
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GSA_MIGRATION
FAC accepted this audit on December 17, 2017 — management decision was due June 17, 2018.
FAC accepted this audit on January 12, 2017 — management decision was due July 12, 2017.
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.
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