Publication Date: September 23, 2002
Author: General Manager: FSA School Channel
Summary: COD Processing and Department of Education Fiscal Year End Processing
Posted on 09-23-2002
TO: All Destination Points
FROM: COD Operations
Subject: COD Processing and Department of Education Fiscal Year End Processing
September 30, 2002 marks the end of the Department of Education's fiscal year 2002. We would like to take this opportunity to inform you how Common Origination and Disbursement (COD) processing will be affected, and how this may impact the way your school processes Pell Grant and Direct Loan records during the days surrounding the September 30th date.
If your school has disbursement records that will result in a change to your Current Funding Level (CFL), please submit them as soon as possible in order to allow for changes to the CFL to be reflected prior to the end of the fiscal year. COD will process all transactions received through Friday September 27th, at 8:30 PM eastern time through all the financial systems. Records submitted after this time will not result in changes to the CFL until ED finishes its closeout activities.
Due to the Department's end of year closeout activities, the Grants Administration and Payment System (GAPS) e-PAYMENTS system will be unavailable on October 1, 2002. As a result, schools will not be able to draw down funds on this day.
If your school does not have a sufficient available balance to draw in GAPS for student awards, please be aware that adjustments in your Current Funding Level (CFL) as a result of accepted disbursement records submitted after 8:30 PM Friday, September 27th will not occur until Monday, October 7th. This is because EDCAPS will be unavailable (other than for E-Payments and E-GRANTS Internet users) between October 1 and October 6th. The system will be available again at 6:30 a.m. Monday, October 7th. During this time, COD will process and acknowledge all disbursement records that you submit so that changes to CFL will be available as soon as possible once EDCAPS is once again available.
If you have any questions regarding this message, please feel free to contact the COD School Relations Center: Telephone: 1-800-4P-GRANT or 1-800-848-0978, or E-mail: CODSupport@afsa.com.