The University of Texas at San Antonio
1994 Statewide Financial and Compliance Audit
Report Number 95-074
Overall Conclusion
The University is generally complying with the federal regulations relating to its Federal Family Education Loan ($17.7 million) and Federal Pell Grant ($5 million) programs. However, a control environment weakness exists in the Student Financial Aid Office. The University should improve internal controls to address the nine issues included in this report.
Key Findings
- A control environment weakness exists in the Student Financial
Aid Office. Nine significant issues, as well as other
contributing factors, were identified. The University received a
total of $22.7 million in federal funds for its Federal Family
Education Loan Program (FFELP) and Federal Pell Grant Program
for fiscal year 1994.
- The University s student records system is not adequately
restricted. Passwords for access to the student records system
are not required to be changed regularly. Also, the notification
procedures in place do not consistently ensure that access
capabilities of a departing employee are immediately removed.
- The University s student financial aid satisfactory academic
progress policy should be revised. The incremental progress
standard does not ensure that a student s progress is sufficient
to obtain a degree within the maximum time frame. During fiscal
year 1994, 5,391 students received FFELP loans and 3,569 received
Pell Grants.
- The University's Student financial Aid Office should not receive loan proceeds from the lenders. Student Financial Aid personnel could process loans and retain the loan proceeds. In fiscal year 1994, the University processed $17.7 million in FFELP loan checks.
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