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MnSCU Audit Committee September 17, 2003. An Assessment of Practices for Monitoring Satisfactory Academic Progress for Financial Aid Recipients John Asmussen.

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Presentation on theme: "MnSCU Audit Committee September 17, 2003. An Assessment of Practices for Monitoring Satisfactory Academic Progress for Financial Aid Recipients John Asmussen."— Presentation transcript:

1 MnSCU Audit Committee September 17, 2003

2 An Assessment of Practices for Monitoring Satisfactory Academic Progress for Financial Aid Recipients John Asmussen Beth Buse Mike Lopez Christopher Halling September 17, 2003

3 FY 2003 Financial Aid Federal Grants$103,528,779 Federal Loans 247,229,258 State Grants39,735,943 State Loans31,558,940 Total Fin’l Aid$422,052,919 Fin’l Aid Recipients89,465

4 Risk Assessment Do institutional policies comply with federal financial aid regulations? Have institutions used ISRS effectively to monitor academic progress? Is there evidence that institutions have suspended students?

5 Preliminary Results Institutions are Reviewing Preliminary Risk Assessments Common Problems Observed –Policies –ISRS implementation –Some institutions not recording suspensions

6 Action Plan Finalize Policy Review and Risk Assessment Raise Awareness Provide Training & Tools Revise Board Policy 2.9 and Develop Chancellor’s Procedure Refer to Education Policy Committee

7 System-level Accountability Framework: Student Participation Rate Data John Asmussen Leslie Mercer Craig Schoenecker September 17, 2003

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9 Legislative Audit Reports for Fiscal Year 2003 John Asmussen Claudia Gudvangen September 17, 2003

10 Report on Timeliness of Academic Program Approvals John Asmussen Leslie Mercer September 17, 2003

11 Objectives Determine type and number of program change applications submitted to the Office of the Chancellor. Review processes and time cycle for program approvals.

12 Academic Program Applications 4/1/2002 to 3/31/2003 N = 1,597

13 Conclusions Academic program changes communicated effectively. Campus processes varied widely. Nearly all program changes approved on a timely basis. Program changes that lacked consensus required more time. High praise for OTC staff.

14 Other Observations Criteria for unnecessary duplication of academic programs needs definition. ISRS module needed for maintaining academic program inventory.

15 Internal Auditing Annual Report John Asmussen September 17, 2003

16 Legislative Audit Findings

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18 Internal Auditing Hours: FY 2003 Budget vs. Actual

19 MnSCU Office of Internal Auditing A CATALYST FOR IMPROVEMENT Website:


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