Announcement on Not Needing to Notify SPD about Low-Risk Designation
NASACT has received a notice from the U.S. Department of Education pertaining to single audits of the Student Financial Assistance Cluster for fiscal years ending within calendar year 2019 and future fiscal years. Key statements in the notice include:
If you have any questions about audit submission, please contact Patrice Fleming, Performance Improvement and Procedures Service Group, at (202) 377-4209 or via email at Patrice.Fleming@ed.gov for additional information.
Public and non-profit institutions participating in the Title IV programs that submit a Single Audit that does not include the Student Financial Assistance Cluster as a major program are not required to notify their respective School Participation Division of any low-risk designation for fiscal years ending within calendar year 2019 and future fiscal years.
The Department continues to review issues related to the frequency and sufficiency of the annual audit submissions and will issue further guidance as needed.
The Department continues to review issues related to the frequency and sufficiency of the annual audit submissions and will issue further guidance as needed.
If you have any questions about audit submission, please contact Patrice Fleming, Performance Improvement and Procedures Service Group, at (202) 377-4209 or via email at Patrice.Fleming@ed.gov for additional information.