3.10.3 The institution audits financial aid programs as required by federal and state regulations.
OFF-SITE REVIEW COMMITTEE COMMENTS
The institution does not anticipate furnishing an A-133 audit report for its financial aid to the committee until late fall or early spring for the most current fiscal year end.
JUDGMENT OF COMPLIANCE
Compliance.
NARRATIVE/JUSTIFICATION FOR JUDGMENT OF COMPLIANCE
Action: Received required information from the Texas State Auditor for the most recent audit of the year ending August 31, 2003.
All 37 Texas public institutions of higher education are part of the State of Texas state wide audit and as such provide financial statement of financial position of unrestricted net assets, exclusive of plant assets and plant-related debt. The University is not provided a separate A-133 audit. KPMG, LLP audited the compliance of the State of Texas for the year ended August 31, 2003 (the most recent audit) with the type of compliance requirements described in the U.S. Office of Management and Budget Circular A-133 Compliance Supplement that are applicable to each of its major Federal programs. The opinion letter issued by KPMG, LLP in February 2004 does not contain any findings specific to Texas A&M International University (Federal Compliance Report).
Further the report states:
“In our opinion, based on our audit and the report of other auditors, except for the noncompliance described in the preceding two paragraphs and except for the effects of such noncompliance, if any, as might have been determined had we been able to examine sufficient evidence regarding compliance with the requirements described in the third preceding paragraph, the State complied, in all material respects, with the requirements referred to above that are applicable to each of its major Federal programs for the year ended August 31, 2003, …”other than those requirements discussed in the following paragraph (Federal Compliance Report, Auditor's Opinion).
Accordingly, the University meets all audit and reporting requirements for Title IV administration in accordance with the Program Participation Agreement signed with the U.S. Department of Education. The University submits the required Fiscal Operations Report and Application to Participate (FISAP) to the U.S. Department of Education in order to comply with federal regulations and audits. The University also submits the required Financial Aid Database (FAD) Report to the Texas Higher Education Coordinating Board, in order to meet state regulations and audits.
SUPPORT DOCUMENTATION
| SOURCE |
LOCATION/Special Instructions |
| Federal Compliance Report | http://www.tamiu.edu/archives/Federal-Compliance-Reports.pdf  |
| Federal Compliance Report, Auditor's Opinion | http://www.tamiu.edu/archives/Federal-Compliance-Reports.pdf Scroll down to page 5. |