EIN: 751169719
UEI: NPMZBNRRLM53
Audited by: WHITLEY PENN, LLP
Oversight agency: 84 [Department of Education]
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Data as of August 28, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on January 9, 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 July 9, 2026 (52 days ago).
What is a management decision? →FAC accepted this audit on January 14, 2025 — management decision was due July 14, 2025.
Out of 40 students sampled from the school’s verification listing, 4 out of 40 students had verification results reported after 60 days. 9 out of 40 lacked documentation of verification submission for students with no response from applicant. Cause: Management does not have sufficient procedures for monitoring reporting deadlines related to verification reporting. Questioned Cost: None. Recommendations: Management should update their verification reporting process to ensure that verification results are reported in a timely manner and documentation of verification submission is retained. View of Responsible Officials: The College’s management will address the matter identified as described in the corrective action plan
Show full finding ▾Hide full finding ▴Federal Agency: U.S. Department of Education Type of Finding: Significant Deficiency in Internal Control over Compliance and Other Matters Recurring: No Compliance Requirement: Special Tests and Provisions - Verification Program Information: Student Financial Aid Cluster (ALN 84.007, 84.003, 84.063, 84.268) Criteria: Program reporting requirements state that verification results must be report to CPS no more than 60 days following the school’s first request to the student for documentation of identity. Condition: Out of 40 students sampled from the school’s verification listing, 4 out of 40 students had verification results reported after 60 days. 9 out of 40 lacked documentation of verification submission for students with no response from applicant. Cause: Management does not have sufficient procedures for monitoring reporting deadlines related to verification reporting. Questioned Cost: None. Recommendations: Management should update their verification reporting process to ensure that verification results are reported in a timely manner and documentation of verification submission is retained. View of Responsible Officials: The College’s management will address the matter identified as described in the corrective action plan
Type of Finding: Significant Deficiency in Internal Control over Compliance and Other Matters Compliance Requirement: Special Tests and Provisions - Verification Corrective Action Plan: The Office of Financial Aid (OFA) has begun to monitor students that are selected for V4 and V5 verification by the U.S. Department of Education. Once available on FSA Partner Portal, the OFA reports any students that have or have not submitted necessary paperwork to finalize verification. After initial reporting, the OFA continues to monitor and report new V4 & V5 students within the 60-day timeframe requirement. Once students fulfill the verification request, the OFA updates the Verification of Identity portal as applicable. As of December 2, 2024, the Verification of Identity portal is not available for either 2024-25 or 2025-26 reporting for any Institution of Higher Education. At this time, it is unknown when the portal for reporting will be available. Name of Contact Persons: Carolyn Kasdorf - Vice President of Business Services. Stephanie Martin - Director of Financial Aid and Veteran Services Projected Completion Date: 2025
Out of 40 students sampled from the College’s roster files, 3 out of 40 did not have updated enrollment statuses reported to NSLDS. Cause: The financial aid office does not have an effective system in place to ensure all official student status changes are reported accurately. Effect: Failure to report status changes timely is noncompliance with Federal regulation and could result in loss of future funding. Questioned Cost: None Recommendations: The College should implement monitoring procedures which will promptly notify the financial aid office of any student status changes. A system of monitoring procedures and/or controls will ensure the College is reporting any status changes accurately. The College should implement a review process to ensure all status changes are addressed by the financial aid office. View of Responsible Officials: The College’s management will address the matter identified as described in the corrective action plan.
Show full finding ▾Hide full finding ▴Federal Agency: U.S. Department of Education Type of Finding: Significant Deficiency in Internal Control over Compliance and Other Matters Recurring: No Compliance Requirement: Special tests and Provisions - Enrollment Program Information: Student Financial Aid Cluster (ALN 84.007, 84.003, 84.063, 84.268) Criteria: CFR section 685.309 and 690.83(b)(2) requires Colleges to notify the NSLDS within 30 days of a change in student status or include the change in status in a response to an enrollment reporting roster within 60 days of the student’s date of determination of withdrawal. 2 CFR Section 200.303 requires entities receiving Federal awards establish and maintain internal controls deigned to reasonably ensure compliance with Federal laws, regulations, and program compliance requirements. Effective internal controls should include procedures in place to ensure accurate reporting of enrollment status changes. Condition: Out of 40 students sampled from the College’s roster files, 3 out of 40 did not have updated enrollment statuses reported to NSLDS. Cause: The financial aid office does not have an effective system in place to ensure all official student status changes are reported accurately. Effect: Failure to report status changes timely is noncompliance with Federal regulation and could result in loss of future funding. Questioned Cost: None Recommendations: The College should implement monitoring procedures which will promptly notify the financial aid office of any student status changes. A system of monitoring procedures and/or controls will ensure the College is reporting any status changes accurately. The College should implement a review process to ensure all status changes are addressed by the financial aid office. View of Responsible Officials: The College’s management will address the matter identified as described in the corrective action plan.
Type of Finding: Significant Deficiency in Internal Control over Compliance and Other Matters Compliance Requirement: Special tests and Provisions - Enrollment Corrective Action Plan: The Admissions and Records Office is currently responsible for reporting student enrollment to National Student Clearinghouse (NSC). Once enrollment is validated and certified, it is reported directly to the National Student Loan Data System (NSLDS). Grayson College does not report enrollment directly in NSLDS. The OFA requests a copy of the validated and certified NSC enrollment report from the Admissions and Records Office to double check accuracy by performing a random selection of students to confirm they have been reported correctly in NSLDS. If, for some reason, a student’s enrollment is not correct in NSLDS, the OFA contacts NSC to get an understanding as to why it is not reported correctly to NSLDS. This happens after each validated and certified cycle, including all module terms (8-week and mini-mester). The College is investigating how to conduct a batch validation, which will be more robust than the sampling method. GC Financial Aid staff have received additional training and understand the importance of V4 and V5 verification coupled with accurate reporting to the NSLDS. They are committed to making sure these actions as stated occur each semester. Name of Contact Persons: Carolyn Kasdorf - Vice President of Business Services. Stephanie Martin - Director of Financial Aid and Veteran Services Projected Completion Date: 2025
FAC accepted this audit on December 21, 2023 — management decision was due June 21, 2024.
FAC accepted this audit on December 26, 2022 — management decision was due June 26, 2023.
FAC accepted this audit on January 11, 2022 — management decision was due July 11, 2022.
FAC accepted this audit on February 17, 2021 — management decision was due August 17, 2021.
FAC accepted this audit on January 14, 2020 — management decision was due July 14, 2020.
FAC accepted this audit on January 13, 2019 — management decision was due July 13, 2019.
FAC accepted this audit on December 18, 2017 — management decision was due June 18, 2018.
FAC accepted this audit on February 19, 2017 — management decision was due August 19, 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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