Faith International University and Seminary

EIN: 911559533

UEI: DANCUNDPRJN5

Data as of August 22, 2026

Faith International University and Seminary7 audit years4 findings
7
Audit Years
4
Total Findings
0
Repeat Findings

FY 2024-06-30

Management decision deadline — for entities that funded this organization

The FAC accepted this audit on November 19, 2024. 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 19, 2025 (460 days ago).

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2024-001
Cash Management

Late Determination of Withdrawal and Late Refund (R2T4)

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Late Determination of Withdrawal and Late Refund (R2T4)

Corrective Action Plan

This Finding was addressed by a retraining session held on October 15, 2024, during which staff and faculty discussed the reasons this Finding occurred. All parties were reminded that impartial SAP compliance monitors, and not faculty, will determine when a student should be administratively withdrawn for non-participation(un-offcial withdrawal), according to school policy. This will that un-official withdrawals will be addressed withing the quarter of attendance, and will ensure that R2T4 funds are returned within the regulated timeline. In addition, the institution is implementing an internal audit policy to test students at week eight or nine of the ten-week quarter who may be subject to an unoffical withdrawal. This will allow the Administration time to contact the student and administer forced withdrawal and, if needed, submit R2T4 within 45 days.

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FY 2023-06-30

FAC accepted this audit on March 12, 2024 — management decision was due September 12, 2024.

2023-001
Subrecipient Monitoring

Untimely Exit Counseling Nofifications

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Untimely Exit Counseling Nofifications

Corrective Action Plan

This issue has already been addressed and remedied. The institution has updated procedures to send automatic email Exit notification to the student at any change of status, other than from full-time to half-time. This email notification is recorded in the student's activity feed, and a screen shot of the activity feed noting the date the exit notification was sent will be placed in the student's financial aid file.

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2023-002
Cash Management
QUESTIONED COSTS

Processing Loan Proceeds

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Processing Loan Proceeds

Corrective Action Plan

The glitch has been fixed. A copy of the confirmation email from the systems department has been attached (Exhibit 2.1). In addition, the institution now undertakes a manual review of all new students' NSLDS history before the first loan disbursement for those students.

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2023-003
Cost Allowability
QUESTIONED COSTS

Calculating Direct Loans

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Calculating Direct Loans

Corrective Action Plan

The school has re-allocated funds from UNSUB to SUB to accommodate the SUB award that had been initiated before the student graduated (see Exhibit 3.1). In the effort to prevent this kind of error arising from quirky and unusual transfer credit scenarios, the institution's financial aid office and our servicer now track transfer credits for all students on a shared document. Any late transfer credits that come in for a student are added to the tracker so that all parties are made aware of any re-packaging need that may arise.

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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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