As required by the federal program participation agreement, Athens State University financial aid programs are audited annually by an outside agency according to all federal and state regulations. The aid programs include: Federal Pell Grant program, Federal Work-Study program, Federal Supplemental Educational Opportunity Grants, Federal Direct Student Loans, National Science and Mathematics Access to Retain Talent (Smart) Grants and TEACH Program Grants. These audits are performed using the federal audit standards in the Office of Management and Budget (OMB) circular OMB A-133. Audits of financial aid programs are conducted as part of the annual financial statement audit performed by the Department of Examiners of Public Accounts of the State of Alabama (2003, 2004, 2005, 2006, 2007, 2008, 2009). Athens State University has an established financial aid audit review process and has a consistent record of compliance with federal and state regulations.