| DCLPublicationDate: 6/1/97 DCLID: CB-97-7 AwardYear: Summary: Release of Campus-Based Funds and Request for Supplemental Federal Work-Study (FWS) Funds. June 1997 CB-97-7 SUBJECT: Release of Campus-Based Funds and Request for Supplemental Federal Work-Study (FWS) Funds. 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 (E-40-4P) 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 1996-97 award year (July 1, 1996, through June 30, 1997) unexpended campus-based allocations. - To inform the Department of Education of your institution's need for supplemental FWS funds for the 1997-98 award year (July 1, 1997, through June 30, 1998). If your institution expended at least 10 percent of its total 1996-97 FWS federal funds to pay students employed in community service jobs, and your institution has a fair share shortfall in its 1997-98 final funding worksheet, your institution may qualify for a supplemental 1997-98 FWS allocation this fall. RELEASE OF UNEXPENDED FUNDS - - SECTION A We plan to reallocate unexpended funds from the 1996-97 award year as supplemental allocations for the 1997-98 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 (HEA), and the current regulations for the campus-based programs. The Department of Education has authority to reallocate 1996-97 award year funds to institutions only until September 30, 1997. Rather than waiting to provide this information on your institution's 1996-97 fiscal operations report, which is not due until October 1, 1997, 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 1997-98 funds. Any unexpended 1996-97 funds which you do not release at this time, cannot be reallocated and will revert to the U.S. Treasury. Therefore, it is imperative that you advise us of any unexpended campus-based funds now, by completing Section-A of the enclosed Campus-Based Reallocation Form. REQUEST FOR SUPPLEMENTAL 1997-98 FWS FUNDS--SECTION B Complete Section B of the enclosed Campus-Based Reallocation Form only if your institution is requesting supplemental 1997-98 FWS funds. Under Section 442 of the HEA, the Department of Education reallocates FWS funds to institutions that have a fair share shortfall and expend at least 10 percent of their total FWS allocation to pay students employed in community service jobs. In requesting supplemental 1997-98 FWS funds, an institution should note that under the HEA, the reallocated FWS funds must be used only to pay students in community service jobs. The supplemental FWS funds cannot be used for any other purpose. DEADLINE FOR SUBMISSION OF CAMPUS-BASED REALLOCATION FORM The deadline for submitting the enclosed Campus-Based Reallocation Form is a postmark date of no later than July 11, 1997. Please return the form containing an original signature to the address shown on the form only if you are releasing campus-based funds or are requesting supplemental 1997-98 FWS funds. Keep a photo copy of the completed form for your records. 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 Financial Management Specialist 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 1996-97 award year (July 1, 1996, through June 30, 1997 ) allocation of federal funds in all three programs, you need not respond to Section A. However, you must complete and submit Section B by July 11, 1997, if you want to ensure consideration for supplemental FWS funds for the 1997-98 award year (July 1, 1997 through June 30, 1998). Please retain a copy of your completed Campus-Based Reallocation Form for your files. Section A -- INSTITUTIONAL RELEASE OF 1996-97 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 1996-97 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 1996-97 Federal Work-Study (FWS) funds that you carried back into the 1995-96 award year or will carry forward into the 1997-98 award year, any 1996-97 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 1996-97 adjusted allocation must equal your original allocation plus any supplemental 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 1996-97 award year that you did not request from the Department of Education Payment Management System (ED/PMS) on or before June 30, 1997. PLEASE NOTE: The 1996-97 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 -- REQUEST FOR SUPPLEMENTAL FWS FUNDS FOR THE 1997-98 AWARD YEAR Complete Section B ONLY if your institution wishes to be considered for supplemental 1997-98 FWS funds. Section B will be used to determine whether your institution is eligible to receive supplemental FWS funds for the 1997-98 award year. Item 4 - Indicate whether your institution expended at least 10 percent of its total 1996-97 FWS federal funds to pay students employed in community service jobs. Please note that your response on the Campus-Based Reallocation Form will be checked later against the FWS community service data that your institution provides on the Fiscal Operations Report and Application to Participate (FISAP). Item 5 - Indicate the amount of supplemental FWS funds your institution will be able to spend for community service jobs during the 1997-98 award year. INSTITUTIONAL FINANCIAL MANAGEMENT DIVISION CAMPUS-BASED PROGRAMS FINANCIAL MANAGEMENT SPECIALISTS Mrs. C. Franklin-Jones (202) 708-9183 AL, AK, AZ, CO, CT, alternate - Carolyn Short DE, GA, KY, RI, VT Mrs. Rhonda Herbert (202) 708-9191 AR, DC, HI, TN, TX, alternate - Jim Porter VA, PI, GU Mrs. Alice Payne (202) 708-9754 CA, SC alternate - Joseph Morris Ms. Dinah Nelson (202) 708-8759 FL, MS, OH, PA alternate - Vicki Roberson Mr. Joseph Morris (202) 708-8745 ID, IL, IN, IA, KS, alternate - Alice Payne MO Ms. Vicki Roberson (202) 708-7747 LA, ME, MD, MA, alternate - Dinah Nelson MI, MN, MT Mr. Jim Porter (202) 708-7752 NC, ND, OR, SD, alternate - Rhonda Herbert WA, WV, WI, WY Ms. Carolyn Short (202) 708-9184 NE, NV, NH, NJ, alternate - C. Franklin-Jones NM, NY, PR, UT, VI Ms. Mary Hubbard (202) 708-9230 OK alternate - Rhonda Herbert Financial Management Specialist Fax (202) 260-0522 (202) 401-0387 If ultimately you are unable to reach your Financial Management Specialist at the above telephone number, you may call the alternate identified below the name of your Financial Management Specialist or call (202) 708-7741. [[ED Form E40-4P is available in Portable Document Format (PDF). It can be viewed with version 3.0 or greater of the free Adobe ACROBAT reader.]] |