FAC Explorer

Finding 520572 (2024-001)

-
Requirement
E
Questioned Costs
-
Year
2024
Accepted
2025-01-28
Audit: 340144
Organization: College of the Atlantic (ME)
Auditor: Baker Newman & Noyes LLC

AI Summary

  • Issue: A Federal Pell Grant was not properly disbursed to an eligible student.
  • Trend: This indicates potential gaps in the disbursement process that could affect compliance.
  • Follow-up: Review and improve the disbursement procedures to ensure all eligible students receive their grants correctly.

Finding Text

During compliance testing, it was identified that a Federal Pell Grant was not properly disbursed to a student who was eligible to receive it.

Corrective Action Plan

The College has promptly engaged with Federal Student Aid regarding proper corrective actions. The Financial Aid Office has conducted a review of disbursement policies and procedures to prevent future occurrences.

Categories

Student Financial Aid

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $1.41M
84.063 Federal Pell Grant Program $527,913
93.859 Biomedical Research and Research Training $218,136
84.038 Federal Perkins Loan $120,804
43.008 Education $89,253
11.439 Marine Mammal Data Program $63,041
84.033 Federal Work-Study Program $40,000
84.007 Federal Supplemental Educational Opportunity Grants $35,000