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Delaware 529 Qualified Tuition Savings Plan Financial Statement Audit for Calendar Years 2019 and 2020

Report Details

Submitting OIG: 
State of Delaware Auditor of Accounts
Report Description: 
What Was Performed? A financial statement audit of the 529 Delaware Qualified Tuition Savings Plan for Calendar Years ended December 31, 2019 and 2020. Why This Engagement? This engagement was conducted in accordance with 29 Del. C. §§ 2906 and 2722. The Delaware Qualified Tuition Savings Plan, founded in 1998 through legislation, is a 529 college investment plan that offers federal and state tax benefits while saving for a child’s education. The funds can be used for qualified education expenses of designated beneficiaries. As of December 31, 2020, the Delaware Qualified Tuition Savings Plan had approximately 5,300 participants and a net position of about $730 million. What Was Found? It is my pleasure to report this audit contained an unmodified opinion. The Delaware Qualified Tuition Savings Plan Financial Statement Audit for Calendar Years ended December 31, 2019 and 2020, can be found here. Please do not reply to this email. For any questions regarding the attached report, please contact State Auditor Kathleen K. McGuiness at Kathleen.Mcguiness@delaware.gov.
Date Issued: 
Tuesday, January 11, 2022
Agency Reviewed / Investigated: 
State of Delaware
Location: 
Dover, DE
United States
Type of Report: 
Audit
Professional Standard: 
GAO's Yellow Book, Generally Accepted Government Auditing Standards (GAGAS)
Report File Link: 
https://auditor.delaware.gov/wp-content/uploads/sites/40/2022/01/2022-Delaware-Q…

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