2022-001 - Student Financial Aid Cluster - (a) Federal Supplemental Educational Opportunity Grants (b) Federal Work Study Program (c) Federal Perkins Loan Program - Federal Capital Contributions (d) Federal Pell Grant Program (e) Federal Direct Student Loans (f) Teacher Education Assistance for College and Higher Education (TEACH), Assistance Listing No. (a) 84.007 (b) 84.033 (c) 84.038 (d) 84.063 (e) 84.268 (f) 84.379 - Year Ended June 30, 2022. Condition: We tested 40 files, 18 of which were Pell Grant recipients, and 2 students did not receive the full amount of their allowed Pell grants. The students were eligible for $65,480, but received $64,930. For one student, this condition was caused by using the 20-21 Pell Award Chart for a 21-22 Pell Award. For the other student, this condition was caused by using the College's institutional EFC instead of the student's EFC noted on their FAFSA. Management Response: We accept this finding and immediately filed a correction with the Federal Pell Grant Program when the discrepancy was discovered during fieldwork. The affected students had no adverse impact with this issue as the incorrect Pell award was initially offset by increased Knox College aid. Corrective Action Plan: The college will devote additional attention to awarding the Federal Pell Grants. Prior to disbursement, a report of all Title IV recipients will be reviewed with the amount of Federal Pell grant the recipient receiving. A manual review will occur to ensure that the accurate Federal Pell Grant amount is correct based on the Expected Family Contribution and Cost of Attendance. Responsible Person: Alexander Guroff, CFO Implementation Date: January 23, 2023