FY 2018 - Closing Package Financial Statements

The auditors expressed the opinion that the closing package financial statements referred to above present fairly, in all material respects, the financial position of the United States Department of Education as of September 30, 2018, and its net cost and changes in net position for the year then ended in accordance with U.S. generally accepted accounting principles. The auditors noted that their our audit of the general-purpose financial statements as of and for the year ended September 30, 2018 disclosed the following material weakness, significant deficiency, and compliance and other matters: (1) Material Weakness-Controls over the Reliability of Information Used in the Modeling Activities Need Improvement; (2) Significant Deficiency-Information Technology Controls Need Improvement; (3) Compliance and Other Matters-Requirement for Referring Delinquent Student Loan Debts to Treasury.