EIN: 720423889
UEI: XNY5ULPU8EN6
Audited by: Deloitte & Touche LLP
Cognizant 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 March 31, 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 October 1, 2026 (29 days from today).
What is a management decision? →FAC accepted this audit on March 31, 2025 — management decision was due October 1, 2025.
FINDING 2024-001 Significant Deficiency in Internal Control over Compliance and Noncompliance – Special Test #3 - Disbursements (Credits) Federal Program(s): Student Financial Assistance Cluster Assistance Listing Number(s): various Criteria: Per the Uniform Grant Guidance Compliance Supplement, the institution is required to pay resulting credit balances directly to the student or parent borrower within 14 days after (1) the first day of class of a payment period if the credit balance occurred on or before that day, or (2) the balance occurred if that was after the first day of class. Condition/Context: During testing of the disbursement’s requirement of the SFA Cluster, 10 out of 58 instances of credit balances were identified in the fiscal year 2024 SEFA and were determined to be returned to the student or parent borrower subsequent to the 14-day requirement. This is not a repeat finding. Cause: The University appropriately reviews each credit disbursement in detail and works with the student or parent borrower to timely resolve any credits. However, given the volume of processing during peak times of aid, the University did not resolve these within the required timeline. Effect: Failure to return Title IV credit balances in a timely manner resulted in noncompliance with federal regulations and could result in potential financial penalties and loss of Title IV funding eligibility. Questioned Costs: None. Recommendation: We recommend that the university implement a robust monitoring system to ensure that Title IV credit balances are returned within the required timeframe.
Show full finding ▾Hide full finding ▴FINDING 2024-001 Significant Deficiency in Internal Control over Compliance and Noncompliance – Special Test #3 - Disbursements (Credits) Federal Program(s): Student Financial Assistance Cluster Assistance Listing Number(s): various Criteria: Per the Uniform Grant Guidance Compliance Supplement, the institution is required to pay resulting credit balances directly to the student or parent borrower within 14 days after (1) the first day of class of a payment period if the credit balance occurred on or before that day, or (2) the balance occurred if that was after the first day of class. Condition/Context: During testing of the disbursement’s requirement of the SFA Cluster, 10 out of 58 instances of credit balances were identified in the fiscal year 2024 SEFA and were determined to be returned to the student or parent borrower subsequent to the 14-day requirement. This is not a repeat finding. Cause: The University appropriately reviews each credit disbursement in detail and works with the student or parent borrower to timely resolve any credits. However, given the volume of processing during peak times of aid, the University did not resolve these within the required timeline. Effect: Failure to return Title IV credit balances in a timely manner resulted in noncompliance with federal regulations and could result in potential financial penalties and loss of Title IV funding eligibility. Questioned Costs: None. Recommendation: We recommend that the university implement a robust monitoring system to ensure that Title IV credit balances are returned within the required timeframe.
Management acknowledges that while the majority of Title IV credit balance disbursements were made on a timely basis, certain transactions were not. Therefore, for the year ended June 30, 2025, the Student Accounts Receivable department has assigned additional resources, including a second account analyst to assist with Title IV credit balance disbursements during high-volume periods. Additionally, managers are monitoring workload and providing direct assistance when needed with prioritization of Title IV credit balance disbursements above non-Title IV credit balance disbursements. These procedures will be implemented by the Director of Student Accounts Receivable by the end of the fiscal year ended June 30, 2025.
FAC accepted this audit on February 22, 2024 — management decision was due August 22, 2024.
FAC accepted this audit on November 2, 2022 — management decision was due May 2, 2023.
FAC accepted this audit on November 10, 2021 — management decision was due May 10, 2022.
FAC accepted this audit on February 1, 2021 — management decision was due August 1, 2021.
FAC accepted this audit on November 4, 2019 — management decision was due May 4, 2020.
FAC accepted this audit on December 3, 2018 — management decision was due June 3, 2019.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴FAC accepted this audit on November 16, 2017 — management decision was due May 16, 2018.
GSA_MIGRATION
Show full finding ▾Hide full finding ▴GSA_MIGRATION
Show full finding ▾Hide full finding ▴GSA_MIGRATION
Show full finding ▾Hide full finding ▴FAC accepted this audit on November 20, 2016 — management decision was due May 20, 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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