EIN: 540129860
UEI: LB6FC2MPNBV7
Audited by: Brown, Edwards, and Company LLP
Oversight agency: 84 [Department of Education]
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Data as of August 31, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on March 24, 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 September 24, 2026 (22 days from today).
What is a management decision? →FAC accepted this audit on January 21, 2026 — management decision was due July 21, 2026.
The University did not file the Data Collection Form for fiscal year 2023-2024 to the Federal Audit Clearinghouse within the required timeline. Criteria: A Single Audit requires the submission of the Data Collection Form to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of an auditor’s report, or nine months after the end of the audit period, unless a different period is specified in a program-specific audit guide. Cause: Staff turnover contributed to the late filing. Effect: The University did not complete it’s required submission to the Federal Audit Clearinghouse by the Deadline of March 31, 2025. Repeat Finding: Yes, see 2023-001. Recommendation: We recommend that the University put procedures in place to ensure timely filing of the Data Collection Form. Management Response: The issues from fiscal year 22-23 related to ERM implementation and lack of resources continue to plague the University. Some of the decisions related to last year’s corrective action plan created additional delays in reconciling and submitting 23-24 for audit. As of October 2024, the University was able to bring in an additional staff resource and an experienced CFO in January 2025. The additional resources, along with the dedicated existing staff and experienced consultants have worked to focus on accuracy, process improvement, and validation of the latest stage of the ERM implementation. Although the financial results of 23-24 are disappointing and have resulted in additional distractions, the expectations for 24-25 are much improved in process and results.
Show full finding ▾Hide full finding ▴2024-003 – Lack of Timely Filing of Data Collection Form to the Federal Audit Clearinghouse. Department of Education, SFA Cluster; Compliance Requirement Affected. Condition: The University did not file the Data Collection Form for fiscal year 2023-2024 to the Federal Audit Clearinghouse within the required timeline. Criteria: A Single Audit requires the submission of the Data Collection Form to the Federal Audit Clearinghouse within the earlier of 30 calendar days after receipt of an auditor’s report, or nine months after the end of the audit period, unless a different period is specified in a program-specific audit guide. Cause: Staff turnover contributed to the late filing. Effect: The University did not complete it’s required submission to the Federal Audit Clearinghouse by the Deadline of March 31, 2025. Repeat Finding: Yes, see 2023-001. Recommendation: We recommend that the University put procedures in place to ensure timely filing of the Data Collection Form. Management Response: The issues from fiscal year 22-23 related to ERM implementation and lack of resources continue to plague the University. Some of the decisions related to last year’s corrective action plan created additional delays in reconciling and submitting 23-24 for audit. As of October 2024, the University was able to bring in an additional staff resource and an experienced CFO in January 2025. The additional resources, along with the dedicated existing staff and experienced consultants have worked to focus on accuracy, process improvement, and validation of the latest stage of the ERM implementation. Although the financial results of 23-24 are disappointing and have resulted in additional distractions, the expectations for 24-25 are much improved in process and results.
2024-003 – Lack of Timely Filing of Data Collection Form for fiscal year 2023-2024 to the Federal Audit Clearinghouse within the required timeline. Condition: The University did not file the Data Collection Form for fiscal year 2023-2024 to teh Federal Audit Clearinghouse within the required timeframe. Repeat Finding: Yes, see 2023-001. Management Response: The issues from fiscal year ended 2023 related to the ERM implementation and lack of resources continue to plague the University. Some of the decisions related to last year’s corrective action plan created additional delays in reconciling and submitting the fiscal year 2024 audit. As of October 2024, the University was able to hire a Controller/Director of Finance. An experienced Chief Financial Officer was hired in January 2025. THese additional resources, along with dedicated existing staff and experienced consultants worked to focus on accuracy, process improvement, and validation of the latest stages of the ERM implementation.
2023-001
FAC accepted this audit on April 4, 2024 — management decision was due October 4, 2024.
The DCF for fiscal year 2022-2023 not submitted to the FAC within the required timeline. Cause: Staff turnover and illness contributed to the late filing. Effect: The College did not complete their required submission to FAC by the deadline of March 31, 2024. Recommendation: We recommend the College have a procedure in place to ensure timely filing of the DCF. Management Response: Current staffing has been increased to improve the timely preparation and submission of the audit data. The late submission for Fiscal Year 22-23 was an anomaly, the result of what could be called the perfect storm. The Controller resigned on Jun e30, 2023, following within days, by the departure of a Senior Accountant. Adding to the problem, the institution is in the throes of implementing a new ERM. Operations are stabilizing now, even though the CFO/COO resigned April 1, 2024. Filling the vacant CFO/COO position and other vacancies within the Business Office are being given top priority. Again, the untimely filing of FY23 was an anomaly that will not be repeated in further fiscal years.
Show full finding ▾Hide full finding ▴2023-001 Lack of timely filing of Data Collection Form to the Federal Audit Clearinghouse Criteria: A Single Audit requires the submission of the Date Collection Form (DCF) to the Federal Audit Clearinghouse (FAC) within the earlier of 30 calendar days after receipt of an auditor’s report, or nine months after the end of the audit period, unless a different period is specified in a program-specific audit guide. Condition: The DCF for fiscal year 2022-2023 not submitted to the FAC within the required timeline. Cause: Staff turnover and illness contributed to the late filing. Effect: The College did not complete their required submission to FAC by the deadline of March 31, 2024. Recommendation: We recommend the College have a procedure in place to ensure timely filing of the DCF. Management Response: Current staffing has been increased to improve the timely preparation and submission of the audit data. The late submission for Fiscal Year 22-23 was an anomaly, the result of what could be called the perfect storm. The Controller resigned on Jun e30, 2023, following within days, by the departure of a Senior Accountant. Adding to the problem, the institution is in the throes of implementing a new ERM. Operations are stabilizing now, even though the CFO/COO resigned April 1, 2024. Filling the vacant CFO/COO position and other vacancies within the Business Office are being given top priority. Again, the untimely filing of FY23 was an anomaly that will not be repeated in further fiscal years.
Averett University Corrective Action Plan U.S. Department of Education Averett University respectfully submits that following corrective action plan for the year ended June 30, 2023. Audit Period: June 30, 2023 2023-001 Lack of timely filing of Data Collection Form to the Federal Audit Clearinghouse Criteria: A Single Audit requires the submission of the Date Collection Form (DCF) to the Federal Audit Clearinghouse (FAC) within the earlier of 30 calendar days after receipt of an auditor’s report, or nine months after the end of the audit period, unless a different period is specified in a program-specific audit guide. Condition: The DCF for fiscal year 2022-2023 was not submitted to the FAC within the required timeline. Action Taken: Current staffing has been increased to improve the timely preparation and submission of the audit data. The late submission for Fiscal Year 22-23 was an anomaly, the result of what could be called the perfect storm. The Controller resigned on Jun e30, 2023, following within days, by the departure of a Senior Accountant. Adding to the problem, the institution is in the throes of implementing a new ERM. Operations are stabilizing now, even though the CFO/COO resigned April 1, 2024. Filling the vacant CFO/COO position and other vacancies within the Business Office are being given top priority. Again, the untimely filing of FY23 was an anomaly that will not be repeated in further fiscal years. Responsible Party: Dr. Tiffany M. Franks Point of Contact: Gary McCombs Expected date of correction: 6-30-24
FAC accepted this audit on March 29, 2023 — management decision was due September 29, 2023.
FAC accepted this audit on September 29, 2022 — management decision was due March 29, 2023.
FAC accepted this audit on September 30, 2021 — management decision was due March 30, 2022.
FAC accepted this audit on November 13, 2019 — management decision was due May 13, 2020.
During our testing of the Direct Loan and Pell Grant programs, we selected a sample of 60 students to test for timeliness and accurate reporting of student status changes to the National Student Loan Data System (NSLDS). We noted 18 instances of late reporting of student status changes. Nine instances were students who graduated during the traditional Spring or Fall semester; however the commencement was at a later point. These student completed their enrollment and should have been reported to NSLDS on the subsequent roster as graduated but were not reported until the after the commencement or on the Roster report after the commencement. The other nine instances were students who withdrew but were not reported within 30 days of the determination or on the next respective roster report. All students tested were accurately reported to NSLDS. Questioned Costs: None Context: Eighteen of the 60 students tested were not in compliance and timely reported. Cause: The University?s processes and controls that were put in place subsequent to the prior year?s audit were not sufficient to ensure that changes in students? status were reported to NSLDS within the required time frame. Effect: The NSLDS system is not updated with the student information which can cause over awarding should the student transfer to another institution and the students may not properly enter the repayment period. Repeat Finding: Yes, prior year finding 2018-001 Recommendation: We recommend the University review its reporting procedures to ensure that students? statuses are accurately and timely reported to NSLDS as required by regulations. Views of responsible officials and planned corrective actions: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
Show full finding ▾Hide full finding ▴Reporting of Student Status Changes Federal agency: Department of Education Federal program: Student Financial Assistance Cluster CFDA Number: 84.063 ? Federal Pell Grant Program 84.268 ? Federal Direct Student Loans Award Period: July 1, 2018 ? June 30, 2019 Type of Finding: Material Weakness in Internal Control over Compliance, Other Matter Criteria or Specific Requirement: The Code of Federal Regulations, 34 CFR 685.309 requires that enrollment status changes for students be reported to the National Student Loan Data System (NSLDS) within 30 days of the University determining the change or on the next scheduled enrollment roster transmission report, if the next scheduled enrollment roster transmission is within 60 days of the University determining the status change. Regulations require the status include an accurate effective date. Condition: During our testing of the Direct Loan and Pell Grant programs, we selected a sample of 60 students to test for timeliness and accurate reporting of student status changes to the National Student Loan Data System (NSLDS). We noted 18 instances of late reporting of student status changes. Nine instances were students who graduated during the traditional Spring or Fall semester; however the commencement was at a later point. These student completed their enrollment and should have been reported to NSLDS on the subsequent roster as graduated but were not reported until the after the commencement or on the Roster report after the commencement. The other nine instances were students who withdrew but were not reported within 30 days of the determination or on the next respective roster report. All students tested were accurately reported to NSLDS. Questioned Costs: None Context: Eighteen of the 60 students tested were not in compliance and timely reported. Cause: The University?s processes and controls that were put in place subsequent to the prior year?s audit were not sufficient to ensure that changes in students? status were reported to NSLDS within the required time frame. Effect: The NSLDS system is not updated with the student information which can cause over awarding should the student transfer to another institution and the students may not properly enter the repayment period. Repeat Finding: Yes, prior year finding 2018-001 Recommendation: We recommend the University review its reporting procedures to ensure that students? statuses are accurately and timely reported to NSLDS as required by regulations. Views of responsible officials and planned corrective actions: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2019-01 Reporting of Student Status Changes Recommendation: We recommend the University review its reporting procedures to ensure that students? statuses are accurately and timely reported to NSLDS as required by regulations. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: A thorough review has been conducted to the audit finding of late reporting of student status changes. Internal controls and procedures have been reviewed to identify weaknesses to ensure the school is providing consistency and timeliness to this process. Listed below are the details of the findings and actions to further mitigate the risk of reoccurrence in future reporting. Six instances occurred due to Averett University properly updating local data in the Student Information System and reporting the updated Enrollment Status within the required timeframe of 30 calendar days or less to the Third Party Servicer (National Student Clearinghouse), but the most up-to-date information was not exchanged on the subsequent roster between the Third Party Servicer and NSLDS. Research indicates that updated enrollment statuses were accepted / approved, processed, and certified by the Third Party Servicer in time for the data to appear on the next roster (which was in the expected timeframe as indicated by the audit firm). Unfortunately, it was not until the next roster file (2 requests after the data was updated) that NSLDS was properly updated. The Office of Institutional Research and Effectiveness (OIRE) has completed an online form requesting contact from the Third Party Servicer to discuss the interval between the updated enrollment status being processed and communicated to NSLDS. The IORE is still waiting on a response from the Third Party Servicer. The OIRE will now follow-up with the research and audit compliance teams through the online contact form provided. It is important for the institution to have a conversation with the Third Party Servicer and identify why the most up-to-date information is not being submitted on the subsequent roster file (not in a timely manner) to NSLDS.Four Withdrawal instances occurred when students were Academically Suspended from the institution, but the students? enrollment statuses were not manually reported to the Third Party Servicer. Five additional Withdrawal instances occurred due to the timeframe between last date of attendance and reporting the change in enrollment statuses to the Third Party Servicer. Procedures had been implemented in the prior year to avoid these instances; unfortunately, the procedures were not followed. The procedure manual was reviewed to ensure the current procedure for these instances was included in the procedure manual. Additionally, a review session was held with the department responsible for reporting these changes in enrollment statuses which included a question and answer session to help address any confusion on how the procedures should be executed. The Registrar?s Office has also implemented a shared Outlook calendar for the office where cyclical items will be entered as events on the calendar with a description of all of the required action items surrounding the event included with the event on the calendar. There are several instances of changes in enrollment status to G (certified for graduation) which were reported outside of the 30-day timeframe. A report is generated and used to identify those students who have completed enrollment during an academic term and need to be reviewed for certification for graduation. It was identified that an additional checkbox should be included on this report ? an important field of criteria was excluded and it created the omission of these students. This checkbox has been added to the report and will be ran on a regular and frequent schedule of once per instructional week. Cross-checks between reported data and local data should be performed by those responsible for accurate and timely updates of the local data. Further cross-checks should occur between NSLDS and the local data and should be performed in a timely manner to ensure required reporting timeframe is met and errors are identified and corrected in a reasonable timeframe. Name(s) of the contact person(s) responsible for corrective action: Carl Bradsher Planned completion date for corrective action plan: October 1, 2019
2018-001
The University has not completed its risk assessment that addresses the three areas noted in 16 CFR 314.4 (b) and documented safeguards for identified risks. Questioned Costs: None Context: The institution must complete a risk assessment that addresses the three required areas noted in 16 CFR 314.4 (b), which are (1) Employee training and management; (2) Information systems, including network and software design, as well as information processing, storage, transmission and disposal; and (3) Detecting, preventing and responding to attacks, intrusions, or other systems failures. Cause: The University is in the process of completing its risk assessment and documenting the safeguards for the items noted in the assessment as required in 16 CFR 314.4 (b), however that process had not been completed for the audit. Effect: Lack of completion of the risk assessment could potentially leave the Information Technology of University vulnerable to threats and potentially expose sensitive data within. Repeat Finding: No Recommendation: We recommend that the institution complete its risk assessment and document the results to be in compliance with 16 CFR 314.4 (b) and document the safeguards that come about from that assessment. Views of responsible officials and planned corrective actions: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
Show full finding ▾Hide full finding ▴Gramm-Leach-Bliley Act ?Student Information Security Federal agency: Department of Education Federal program: Student Financial Assistance Cluster CFDA Number: 84.063 ? Federal Pell Grant Program 84.268 ? Federal Direct Student Loans 84.007 ? Federal Supplemental Educational Opportunity Grant 84.033 ? Federal Work Study Program 84.038 ? Federal Perkins Loan Program Award Period: July 1, 2018 ? June 30, 2019 Type of Finding: Material Weakness in Internal Control over Compliance, Other Matter Criteria or Specific Requirement: The Gramm-Leach-Bliley Act (Public Law 106-102) requires financial institutions to explain their information-sharing practices to their customers and to safeguard sensitive data. (16 CFR 314) The Federal Trade Commission considers Title IV-eligible institutions that participate in Title IV Educational Assistance Programs as ?financial institutions? and subject to the Gramm-Leach-Bliley Act (16 CFR 313.3(k)(2)(vi). Under an institution?s Program Participation Agreement with the Department of Education and the Gramm-Leach-Bliley Act, schools must protect student financial aid information, with particular attention to information provided to institutions by the Department or otherwise obtained in support of the administration of the federal student financial aid programs. Condition: The University has not completed its risk assessment that addresses the three areas noted in 16 CFR 314.4 (b) and documented safeguards for identified risks. Questioned Costs: None Context: The institution must complete a risk assessment that addresses the three required areas noted in 16 CFR 314.4 (b), which are (1) Employee training and management; (2) Information systems, including network and software design, as well as information processing, storage, transmission and disposal; and (3) Detecting, preventing and responding to attacks, intrusions, or other systems failures. Cause: The University is in the process of completing its risk assessment and documenting the safeguards for the items noted in the assessment as required in 16 CFR 314.4 (b), however that process had not been completed for the audit. Effect: Lack of completion of the risk assessment could potentially leave the Information Technology of University vulnerable to threats and potentially expose sensitive data within. Repeat Finding: No Recommendation: We recommend that the institution complete its risk assessment and document the results to be in compliance with 16 CFR 314.4 (b) and document the safeguards that come about from that assessment. Views of responsible officials and planned corrective actions: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
Gramm-Leach-Bliley Act ?Student Information Security Recommendation: We recommend that the University perform a risk assessment and document the results to be in compliance with 16 CFR 314.4 (b) and document the safeguards that come about from that assessment. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Averett has been working to mitigate IT risks and evaluate its data security to ensure compliance with the GLBA standard which will also result in the completion of the required risk assessment no later than December 31st, 2019. Management will subsequently review and update the required assessment and safeguards each year, thereafter. Name(s) of the contact person(s) responsible for corrective action: Kevin Lipscomb Planned completion date for corrective action plan: December 1, 2019
FAC accepted this audit on October 30, 2018 — management decision was due April 30, 2019.
GSA_MIGRATION
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GSA_MIGRATION
2017-001
FAC accepted this audit on November 15, 2017 — management decision was due May 15, 2018.
GSA_MIGRATION
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GSA_MIGRATION
2016-001
GSA_MIGRATION
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GSA_MIGRATION
2016-002
GSA_MIGRATION
Show full finding ▾Hide full finding ▴FAC accepted this audit on September 26, 2016 — management decision was due March 26, 2017.
GSA_MIGRATION
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GSA_MIGRATION
2015-001
GSA_MIGRATION
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GSA_MIGRATION
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