| DCLPublicationDate: 6/1/95 DCLID: CB-95-12 AwardYear: Summary: Release of Campus-Based Funds and MANDATORY Federal Work-Study (FWS) Community Service Reporting Requirements. June 1995 CB-95-12 SUBJECT: Release of Campus-Based Funds and MANDATORY Federal Work-Study (FWS) Community Service Reporting Requirements REFERENCE: This letter supplements information found in Chapters 5-8, Federal Student Financial Aid Handbook. Dear Financial Aid Administrator: The enclosed Campus-Based Reallocation Form is used in the Federal Supplemental Educational Opportunity Grant, FWS, and Federal Perkins Loan programs (the campus-based programs) for the following purposes: - To release 1994-95 award year (July 1, 1994, through June 30, 1995) unexpended campus-based allocations. - To determine if your institution is eligible to be considered for supplemental FWS funds for the 1995-96 award year (July 1, 1995, through June 30, 1996). If your institution expended at least 10 percent of its total 1994-95 FWS Federal funds to pay students employed in community service jobs, AND your institution has a fair share shortfall in its 1995-96 final funding worksheet, your institution may qualify for a supplemental 1995-96 FWS allocation this fall. - To determine if your institution met the statutory requirement of expending at least 5 percent of its total 1994-95 FWS Federal funds to pay students employed in community service jobs. Release of Unexpended Funds We plan to reallocate unexpended funds from the 1994-95 award year as supplemental allocations for the 1995-96 award year under the campus-based programs. Supplemental allocations will be issued this fall in accordance with reallocation procedures contained in the Higher Education Act of 1965, as amended, and the current regulations for the campus-based programs. The Department of Education has authority to reallocate 1994-95 award year funds to institutions only until September 30, 1995. Rather than waiting to provide this information on your institution's 1994-95 fiscal operations report, which is not due until September 29, 1995, we ask that you provide us with advance notice of the amount of your unexpended allocation for each of the campus-based programs. It is important that you provide us with this information because many institutions are in need of supplemental 1995-96 funds. Any unexpended 1994-95 funds which you do not release now cannot be reallocated and will revert to the U.S. Treasury. Therefore, it is urgent that you advise us of any unexpended campus-based funds now. Required Submission of the Campus-Based Reallocation Form You must complete and submit the enclosed Campus-Based Reallocation Form (ED Form E40-4P) if your institution participated in the FWS Program for the 1994-95 award year. The FWS community service information for the 1994-95 award year will not be collected on the Fiscal Operations Report and Application to Participate (FISAP). Deadlines for Submission of Campus-Based Reallocation Form Return the form containing an original signature to the address shown on the form by the applicable deadlines listed below: - July 28, 1995 This form must be submitted by July 28, 1995, if you have unexpended campus-based funds to release. This form must be submitted by July 28, 1995, to ensure consideration of your institution for supplemental FWS funds for the 1995-96 award year. (Please note that ALL reallocated FWS funds must be used to pay students employed in community service jobs.) - November 3, 1995 This form must be submitted by November 3, 1995, if your institution participated in the FWS program for the 1994-95 award year, and your institution does not meet the criteria for submission of this form by July 28, 1995. Instructions for completion of the Campus-Based Reallocation Form are enclosed. Please coordinate the preparation of this report with your institution's Chief Fiscal Officer. Questions regarding the preparation of this report should be referred to the Campus-Based Programs State Representative who serves your State (listing enclosed). Sincerely, Michele L. Selvage, Director Institutional Financial Management Division Accounting and Financial Management Service Enclosures (3) INSTRUCTIONS: CAMPUS-BASED REALLOCATION FORM If you have expended the full amount of your 1994-95 award year (July 1, 1994, through June 30, 1995) allocation of Federal funds in all three programs, you need not respond to Section A. However, if your institution participated in the Federal Work-Study (FWS) Program for the 1994-95 award year, you must complete and submit Section B: - by July 28, 1995, if you want to ensure consideration for supplemental FWS funds for the 1995-96 award year (July 1, 1995, through June 30, 1996). - by November 3, 1995, if you do not want to ensure consideration for supplemental FWS funds for the 1995-96 award year. Please retain a copy of your completed Campus-Based Reallocation Form for your files. Section A -- INSTITUTIONAL RELEASE OF 1994-95 UNEXPENDED ALLOCATIONS FOR THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, FEDERAL WORK-STUDY AND FEDERAL PERKINS LOAN PROGRAMS You MUST complete Section A if you have unexpended campus-based funds. If you have not expended all of your 1994-95 funds, you must determine as accurately as possible what your unspent balance(s) will be for each of the appropriate campus-based programs. In order to determine whether or not you have an unexpended balance, you must take into consideration any administrative cost allowance you wish to claim. You must also take into consideration any 1994-95 FWS funds that you carried back into the 1993-94 award year or will carry forward into the 1995-96 award year, any 1994-95 FWS funds transferred to the Federal Supplemental Educational Opportunity Grant (FSEOG) Program, or Federal Perkins Loan Federal funds transferred to either FSEOG or FWS. When you submit your Fiscal Operations Report and Application to Participate (FISAP) later this year, the amount entered as your 1994-95 adjusted allocation must equal the original allocation minus the amount reported as unexpended on the enclosed Campus-Based Reallocation Form. Do not report cents. Item 1 - Report the amount of your unspent FSEOG funds. Item 2 - Report the amount of your unspent FWS funds. Item 3 - Report the amount of your final adjusted Federal capital contribution for the 1994-95 award year that you did not request from the Department of Education Payment Management System (ED/PMS) on or before June 30, 1995. PLEASE NOTE: The 1994-95 authorization in your Department of Education Payment Management System (ED/PMS) account will be reduced in September by the amount of any unexpended funds you report in the Campus-Based Reallocation Form. Section B -- FUNDS EXPENDED FOR 1994-95 FWS COMMUNITY SERVICE ACTIVITIES You MUST complete Section B if your institution participated in the FWS Program for the 1994-95 award year. Section B will be used to determine whether your institution is eligible to receive supplemental FWS funds for the 1995-96 award year and whether your institution met the minimum 5 percent community service expenditure requirement for the 1994-95 award year. Item 4 - Report the number of students employed in FWS jobs during the 1994-95 award year that met the definition of community service in the Higher Education Act of 1965, as amended, Part C, Section 441(c). Item 5 - Enter the Federal share of compensation earned in FWS community service jobs during the 1994-95 award year. Item 6 - Report the non-Federal (institutional plus off-campus employer) share of compensation earned by the students employed in community service jobs. |