EIN: 420686467
UEI: MYBRQL7HA4T1
Audited by: RSM 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 November 9, 2022. 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 May 9, 2023 (1214 days ago).
What is a management decision? →The College drew down excess Federal Direct Student Loan funds and the student portion of COVID-19 Education Stabilization funds that were not properly disbursed to students or returned to the Department of Education within the required timeframe. Cause: The Business Office was not aware the excess funds related to the Federal Direct Student Loan program were on hand until the month-end reconciliation process, which was beyond the refund period. In regards to the student portion of COVID-19 Education Stabilization funds, there were 8 checks that were issued to students during 2021 and not cashed, and therefore subsequently being cancelled during 2022, resulting in the excess funds on hand. Effect: Funds were drawn in excess of disbursed funds and the funds remained in excess beyond the allowed days. Context: Two of 32 drawdowns. Questioned costs: $5,224 of excess cash draw related to Federal Direct Student Loan funds and $3,776 of excess cash related to the student portion of COVID-19 Education Stabilization funds that were returned to the Department of Education after the required timeframe. Recommendation: Management should review and verify federal funds requested in excess are timely returned to the Department of Education in order to comply with federal regulations. Views of responsible officials: Management agrees with this finding. Please see corrective action plan attached.
Show full finding ▾Hide full finding ▴2022-001 U.S. Department of Education Student Financial Assistance Programs Cluster Federal Direct Student Loan Program (Federal Assistance Listing Number 84.268) and COVID-19 Education Stabilization Fund ? ARPA Student Portion (Federal Assistance Listing Number 84.425F) Federal Award Year: 2021-2022 Finding: The College did not return excess Federal Direct Student Loan funds and the student portion of COVID-19 Education Stabilization funds within the required timeframe. Criteria: Per 34 CFR 668.162(b)(3), an institution must disburse the funds required as soon as administratively feasible, but no later than three business days by the institution. Per 34 CFR 668.166(a) and (b), an excess cash balance tolerance is allowed if that balance is less than 1% of its prior year drawdowns and is eliminated within the next seven calendar days. Condition: The College drew down excess Federal Direct Student Loan funds and the student portion of COVID-19 Education Stabilization funds that were not properly disbursed to students or returned to the Department of Education within the required timeframe. Cause: The Business Office was not aware the excess funds related to the Federal Direct Student Loan program were on hand until the month-end reconciliation process, which was beyond the refund period. In regards to the student portion of COVID-19 Education Stabilization funds, there were 8 checks that were issued to students during 2021 and not cashed, and therefore subsequently being cancelled during 2022, resulting in the excess funds on hand. Effect: Funds were drawn in excess of disbursed funds and the funds remained in excess beyond the allowed days. Context: Two of 32 drawdowns. Questioned costs: $5,224 of excess cash draw related to Federal Direct Student Loan funds and $3,776 of excess cash related to the student portion of COVID-19 Education Stabilization funds that were returned to the Department of Education after the required timeframe. Recommendation: Management should review and verify federal funds requested in excess are timely returned to the Department of Education in order to comply with federal regulations. Views of responsible officials: Management agrees with this finding. Please see corrective action plan attached.
Identifying Number: 2022-001 Finding: The College did not return excess Federal Direct Student Loan funds and the student portion of COVID-19 Education Stabilization funds within the required timeframe. Corrective Actions Taken or Planned: The Controller will access the Federal Student Aid (FSA) Partner Connect website, which is updated daily, prior to every draw. This will be in addition to verifying the G5 federal loan site and grant disbursement levels. They will ensure that it won?t be missed in the future as G5 reconciliation is only required monthly. Persons Responsible and Completion Date: Barb Hoffman, Director of Financial Aid and Carly Szawiel, Assistant Controller
FAC accepted this audit on January 5, 2022 — management decision was due July 5, 2022.
FAC accepted this audit on May 24, 2021 — management decision was due November 24, 2021.
FAC accepted this audit on November 19, 2019 — management decision was due May 19, 2020.
For a student that withdrew in fall 2019 and students that graduated or withdrew in spring 2019, the changes in enrollment status were not reported timely to NSLDS. Criteria: Per 34 CFR 685.309(b), Enrollment reporting process. (1) Upon receipt of an enrollment report from the Secretary, update all information included in the report and return the report to the Secretary in the manner and format prescribed by the Secretary; and within the timeframe prescribed by the Secretary; and (2) Unless it expects to submit its next student updated enrollment report to the Secretary within the next 60 days, a School must notify the Secretary within 30 days if it discovers that (i) A loan under title IV of the Act was made to or on behalf of a student who was enrolled or accepted for enrollment at the School, and the student has ceased to be enrolled on at least a half-time basis or failed to enroll in at least a half-time basis for the period for which the loan was intended; or (ii) A student who is enrolled at the school and who received a loan under the title IV of the Act has changed his or her permanent address. Cause: For the one student that withdrew in fall 2019, the student was enrolled for a semester following graduation to complete the student teaching requirement. The student?s withdrawal during student teaching was not identified for enrollment reporting until the following semester. For the students that graduated or withdrew in spring 2019, the enrollment change was reported to the College?s service provider; however, the College did not ensure the reporting was performed timely to ensure final reporting to NSLDS occurred within the required timeframe. Effect: A student may not be placed into repayment status on a timely basis. Context: Three of 25 students tested were not reported timely or accurately to NSLDS and 297 students that graduated or withdrew in spring 2019 were not reported timely. Questioned costs: None. Recommendation: The College should review its procedures to ensure all students are being reported timely in the enrollment management system and ensure the College?s service provider is updating enrollment changes to NSLDS timely. Management?s response: Management agrees with this finding. Please see corrective action plan attached.
Show full finding ▾Hide full finding ▴2019-002 U.S. Department of Education Program Student Financial Assistance Programs Cluster Federal Direct Student Loans (CFDA 84.268) Finding: The College did not timely report enrollment changes to the National Student Loan Data System (NSLDS). See related compliance finding 2019-003. Condition: For a student that withdrew in fall 2019 and students that graduated or withdrew in spring 2019, the changes in enrollment status were not reported timely to NSLDS. Criteria: Per 34 CFR 685.309(b), Enrollment reporting process. (1) Upon receipt of an enrollment report from the Secretary, update all information included in the report and return the report to the Secretary in the manner and format prescribed by the Secretary; and within the timeframe prescribed by the Secretary; and (2) Unless it expects to submit its next student updated enrollment report to the Secretary within the next 60 days, a School must notify the Secretary within 30 days if it discovers that (i) A loan under title IV of the Act was made to or on behalf of a student who was enrolled or accepted for enrollment at the School, and the student has ceased to be enrolled on at least a half-time basis or failed to enroll in at least a half-time basis for the period for which the loan was intended; or (ii) A student who is enrolled at the school and who received a loan under the title IV of the Act has changed his or her permanent address. Cause: For the one student that withdrew in fall 2019, the student was enrolled for a semester following graduation to complete the student teaching requirement. The student?s withdrawal during student teaching was not identified for enrollment reporting until the following semester. For the students that graduated or withdrew in spring 2019, the enrollment change was reported to the College?s service provider; however, the College did not ensure the reporting was performed timely to ensure final reporting to NSLDS occurred within the required timeframe. Effect: A student may not be placed into repayment status on a timely basis. Context: Three of 25 students tested were not reported timely or accurately to NSLDS and 297 students that graduated or withdrew in spring 2019 were not reported timely. Questioned costs: None. Recommendation: The College should review its procedures to ensure all students are being reported timely in the enrollment management system and ensure the College?s service provider is updating enrollment changes to NSLDS timely. Management?s response: Management agrees with this finding. Please see corrective action plan attached.
Finding: The College did not timely report enrollment changes to the National Student Loan Data System (NSLDS). Corrective Actions Taken or Planned: In response to student status changes not being reported within the time limit of 60 days to National Student Loan Data Systems (NSLDS), the College has developed a set of procedures and policies to avoid future problems with late reporting (see below). The College uses a third party vendor, National Student Clearinghouse (NSC), to report data to NSLDS. All information was submitted and accepted timely to NSC, however, an error report was later issued and, after a resolution was reached, the updated information was not submitted by NSC within the 60-day requirement. Coe understands that it is the responsibility of the college to ensure timely submission of the data and has established the following procedures to ensure that a late submission does not occur in the future: ? Submissions will be sent by the Office of the Registrar per the schedule established with NSC. ? The Assistant Registrar will be trained, as a backup to the Registrar, to submit reports and troubleshoot error resolutions in order to not have a gap in human resources that may hinder the process of correction and submission. ? At 30 days after submission a review by the Office of the Registrar will be done with NSC to ensure that the reports have been properly forwarded to NSLDS. ? Any issues with the submission found at 45 days will be forwarded to the Business Office and the Financial Aid Office for review and correction to ensure timely reporting. ? In the event that NSC has not submitted student status changes within ten business days prior to the 60-day requirement, the Registrar?s Office will request that the Financial Aid Office manually enter all student status changes into the NSLDS database. ? The Office of the Registrar will do a final check of the NSLDS site prior to the 60-day requirement to ensure compliance. Contact Person: Chief Financial Officer Date of Completion: September, 2019
For a student that withdrew in fall 2019 and students that graduated or withdrew in spring 2019, the changes in enrollment status were not reported timely to NSLDS. Criteria: Per 34 CFR 685.309(b), Enrollment reporting process. (1) Upon receipt of an enrollment report from the Secretary, update all information included in the report and return the report to the Secretary in the manner and format prescribed by the Secretary; and within the timeframe prescribed by the Secretary; and (2) Unless it expects to submit its next student updated enrollment report to the Secretary within the next 60 days, a School must notify the Secretary within 30 days if it discovers that (i) A loan under title IV of the Act was made to or on behalf of a student who was enrolled or accepted for enrollment at the School, and the student has ceased to be enrolled on at least a half-time basis or failed to enroll in at least a half-time basis for the period for which the loan was intended; or (ii) A student who is enrolled at the school and who received a loan under the title IV of the Act has changed his or her permanent address. Cause: For the one student that withdrew in fall 2019, the student was enrolled for a semester following graduation to complete the student teaching requirement. The student?s withdrawal during student teaching was not identified for enrollment reporting until the following semester. For the students that graduated or withdrew in spring 2019, the enrollment change was reported to the College?s service provider; however, the College did not ensure the reporting was performed timely to ensure final reporting to NSLDS occurred within the required timeframe. Effect: A student may not be placed into repayment status on a timely basis. Context: Three of 25 students tested were not reported timely or accurately to NSLDS and 297 students that graduated or withdrew in spring 2019 were not reported timely. Questioned costs: None. Recommendation: The College should review its procedures to ensure all students are being reported timely in the enrollment management system and ensure the College?s service provider is updating enrollment changes to NSLDS timely. Management?s response: Management agrees with this finding. Please see corrective action plan attached.
Show full finding ▾Hide full finding ▴2019-003 U.S. Department of Education Program Student Financial Assistance Programs Cluster Federal Direct Student Loans (CFDA 84.268) Finding: The College did not timely report enrollment changes to the National Student Loan Data System (NSLDS). See related significant deficiency in internal control finding at 2019-002. Condition: For a student that withdrew in fall 2019 and students that graduated or withdrew in spring 2019, the changes in enrollment status were not reported timely to NSLDS. Criteria: Per 34 CFR 685.309(b), Enrollment reporting process. (1) Upon receipt of an enrollment report from the Secretary, update all information included in the report and return the report to the Secretary in the manner and format prescribed by the Secretary; and within the timeframe prescribed by the Secretary; and (2) Unless it expects to submit its next student updated enrollment report to the Secretary within the next 60 days, a School must notify the Secretary within 30 days if it discovers that (i) A loan under title IV of the Act was made to or on behalf of a student who was enrolled or accepted for enrollment at the School, and the student has ceased to be enrolled on at least a half-time basis or failed to enroll in at least a half-time basis for the period for which the loan was intended; or (ii) A student who is enrolled at the school and who received a loan under the title IV of the Act has changed his or her permanent address. Cause: For the one student that withdrew in fall 2019, the student was enrolled for a semester following graduation to complete the student teaching requirement. The student?s withdrawal during student teaching was not identified for enrollment reporting until the following semester. For the students that graduated or withdrew in spring 2019, the enrollment change was reported to the College?s service provider; however, the College did not ensure the reporting was performed timely to ensure final reporting to NSLDS occurred within the required timeframe. Effect: A student may not be placed into repayment status on a timely basis. Context: Three of 25 students tested were not reported timely or accurately to NSLDS and 297 students that graduated or withdrew in spring 2019 were not reported timely. Questioned costs: None. Recommendation: The College should review its procedures to ensure all students are being reported timely in the enrollment management system and ensure the College?s service provider is updating enrollment changes to NSLDS timely. Management?s response: Management agrees with this finding. Please see corrective action plan attached.
Finding: The College did not timely report enrollment changes to the National Student Loan Data System (NSLDS). Corrective Actions Taken or Planned: In response to student status changes not being reported within the time limit of 60 days to National Student Loan Data Systems (NSLDS), the College has developed a set of procedures and policies to avoid future problems with late reporting (see below). The College uses a third party vendor, National Student Clearinghouse (NSC), to report data to NSLDS. All information was submitted and accepted timely to NSC, however, an error report was later issued and, after a resolution was reached, the updated information was not submitted by NSC within the 60-day requirement. Coe understands that it is the responsibility of the college to ensure timely submission of the data and has established the following procedures to ensure that a late submission does not occur in the future: ? Submissions will be sent by the Office of the Registrar per the schedule established with NSC. ? The Assistant Registrar will be trained, as a backup to the Registrar, to submit reports and troubleshoot error resolutions in order to not have a gap in human resources that may hinder the process of correction and submission. ? At 30 days after submission a review by the Office of the Registrar will be done with NSC to ensure that the reports have been properly forwarded to NSLDS. ? Any issues with the submission found at 45 days will be forwarded to the Business Office and the Financial Aid Office for review and correction to ensure timely reporting. ? In the event that NSC has not submitted student status changes within ten business days prior to the 60-day requirement, the Registrar?s Office will request that the Financial Aid Office manually enter all student status changes into the NSLDS database. ? The Office of the Registrar will do a final check of the NSLDS site prior to the 60-day requirement to ensure compliance. Contact Person: Chief Financial Officer Date of Completion: September, 2019
FAC accepted this audit on November 12, 2018 — management decision was due May 12, 2019.
FAC accepted this audit on November 13, 2017 — management decision was due May 13, 2018.
FAC accepted this audit on February 12, 2017 — management decision was due August 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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