Questions From Session 4.C What is the GPACompletion Ratio required to qualify for the Student Emergency FundDream Keepers funds? How often are students allowed to apply for emergency funds? Where can students access computers or request
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Questions From Session 4.C What is the GPA/Completion Ratio required to qualify for the Student Emergency Fund/Dream Keepers funds?
How often are students allowed to apply for emergency funds?
Where can students access computers or request loaner laptops?
Who are the four target enrollment audiences and what are the enrollment goals for the groups from the St. Louis region?
How is our collaboration with Complete College America(CCA) assisting us in addressing Criterion 4.C?<br>
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Criterion 5.B
Governance and Administrative Structures
HLC Site Visit Information
Division of Academic Affairs<br>
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Criterion 5.B Resolutions Issues #1 and #2
In 2021 $28.6 million was forgiven resulting in a significant change to long-term liabilities from approximately $29.1 million to approximately $202,500. 1 The institution’s net position rose from $16.8 million to $47.8 million Long-term debt of $ 29.1 million down to $ 0, and our net assets increased by
$31 million 2<br>
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Issue #3
TRIO Cluster, Research and Development Cluster, HEERF, and Title III Programs Criterion 5.B Resolutions 1 3 2 reimplemented time and effort reporting process
implemented a process to properly document and ensure appropriate approval levels were in place prior to making requests for the reimbursement of funds
ensure that Trio funds are allocated and utilized in strict accordance with federal regulations regular audits and reviews to verify compliance comprehensive review of programmatic and financial operations.
established clearer communication channels between program administrators and financial offices
internal audit procedures have been strengthened
training initiatives are in place to ensure compliance with Title III requirements. TRIO HEERF Title III 4 Research and Development *Reimplemented time and effort reporting process
*No questionable costs<br>
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1 Resolutions 2 Criterion 5.B Issues #4 and #5
Separation of Duties and Threat of Repeat Findings Decrease in Findings Filled Crucial Positions Within the Division of Business & Finance Affairs These are being addressed by auditing policy and improvements in internal controls with the update of the University's Financial Policy Manual 23 14 6 2021 2022 2023 Chief Financial Officer
Compliance Officer
Comptroller
Senior Accountant Fiscal Project Manager
Accounts Payable Clerk(s)
Financial Aid Counselor
Grant Accountant Decrease in Single Audit Findings<br>
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Issue #6 Modification of Reporting Processes Criterion 5.B Resolution 1 Established a Board of Regents Finance and Audit Committee improved audit outcomes
timely submissions
enhanced confidence in its financial operations
completion and submission of the FY22 and FY23 single and financial statement audits within the statutory time frame The establishment of this committee has resulted in the following:<br>
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QUESTIONS?<br>
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Next Steps Prepare for University Wide Meetings Session 1: HLC Criterion 4.A - February 2nd - 10:00am
Session 2: HLC Criterion 4.B - February 9th - 10:00am
Session 3: HLC Criterion 4.C - February 16th - 10:00am
Session 4: HLC Criterion 5.B - February 23rd - 10:00am
Session 5: HLC Criterion 2.A - March 1st - 10:00am
Session 6: Final HLC Review - March 15th - 10:00am
