Since 2007, FASTAP has completed eight comprehensive pre-accreditation reviews and provided individual institutions with $20,000 mini-grants to implement resulting recommendations, including upgrading software, improving cash flow and adopting best practices in accounting, budgeting and inventory management. Assessments focus on persistent, recurring and systemic challenges faced by all academic institutions.

 

The FASTAP Professional Development Institute and the Financial Management Institute host communities of practice for member institutions.

 

Four schools that received FASTAP assistance Johnson C. Smith University, LeMoyne-Owen College, Bennett College for Women and Talladega College earned re-accreditation and more institutions are well-prepared to do so.

 

FASTAP assistance played a key role in Talladega earning re-accreditation.  Using FASTAP funds, Talladega upgraded financial software. New software assisted in identifying fixed assets and showed that inventory controls and deferred maintenance were included in the overall balance sheet, per Southern Association of Colleges and Schools criteria. Talladega also acquired a consultant to improve cash flow with proposal writing workshops and grant opportunities.