FAC Explorer

Audit 391490

FY End
2025-06-30
Total Expended
$37.82M
Findings
1
Programs
13
Organization: Maine Maritime Academy (ME)
Year: 2025 Accepted: 2026-03-12
Auditor: BAKER NEWMAN & NOYES LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1179047 2025-004 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
20.806 State Maritime Schools $28.94M Yes 0
84.268 FEDERAL DIRECT STUDENT LOANS $5.70M Yes 1
84.063 FEDERAL PELL GRANT PROGRAM $1.53M Yes 0
14.251 Economic Development Initiative, Community Project Funding and Miscellaneous Grants $471,538 Yes 0
84.038 Federal Perkins Loan Program $311,810 Yes 0
84.116 FUND FOR THE IMPROVEMENT OF POSTSECONDARY EDUCATION $258,462 Yes 0
84.007 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS $103,201 Yes 0
84.033 FEDERAL WORK-STUDY PROGRAM $74,845 Yes 0
81.135 ADVANCED RESEARCH PROJECTS AGENCY - ENERGY $50,531 Yes 0
48.RD Wind Power Program $28,470 Yes 0
43.008 EDUCATION $9,983 Yes 0
47.RD Environmental DNA as a Nexus of Coastal Ecosystem Sustainability for Maine $6,026 Yes 0
43.001 SCIENCE $5,483 Yes 0

Contacts

Name Title Type
RNDNN4KZ3NH7 Alice Herrick Auditee
2073262445 Jason Emery Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Maine Maritime Academy (the Academy) under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Academy, it is not intended to and does not present the financial position, changes in financial position, or cash flows of the Academy.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Academy has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Academy has predetermined indirect cost rates of 45.0% for on-campus grant activities and 22.5% for off-campus grant activities. The rates are predetermined rates for the fiscal year ended June 30, 2025.
See the Notes to the SEFA for chart/table

Finding Details

Finding 2025-004
Finding 2025-004: Student Financial Assistance Cluster – Special Tests and Provisions – Enrollment Reporting Federal Program: Student Financial Assistance Cluster; Federal Direct Student Loans Assistance Listing Number: 84.268 Federal Award Agency: U.S. Department of Education Pass-Through Entity: None Federal Award Year: 2025 Federal Award Identification Number: P268K161537 Repeat Finding: This is a repeat finding Criteria: In accordance with limits set by the Department of Education, schools must report changes in a student’s enrollment status (for example, less than half-time, graduated, or withdrawn) to the National Student Loan Data System (NSLDS) within 30 days (60 days for roster file) of becoming aware of the change. Condition and context: During our test work over Unsubsidized and Subsidized loans, we noted eleven students in our sample selected where the change in enrollment status was not completed timely. This finding was reported in the prior year under finding number 2024-001. Cause: Insufficient review of student data in the NSLDS. Effect or potential effect: The Academy did not report student enrollment changes within the timeframe outlined by the Department of Education. Questioned costs: None. Recommendation: We recommend that management enhance control procedures to ensure that student data regarding changes in enrollment status is reported timely. Views of responsible officials: Management’s response is included in “Management’s Views and Corrective Action Plan” at the end of this report after the Summary Schedule of Prior Audit Findings.