Posted Date:June 28, 2012
|Author:||William Leith, Service Director, Program Management, Federal Student Aid|
Subject: Change to G5 Functionality for Campus-Based Program Awards
As published in the Federal Student Aid Handbook, Volume 6, Managing Campus-Based Programs, there are provisions for transferring Campus-Based funds between Campus-Based Programs and carrying funds forward or back between award years. These provisions do not allow for moving funds between programs, between schools or between years within G5. The transfer of Campus-Based funds is reported on the Fiscal Operations Report and Application to Participate (FISAP) only.Notification to Schools
On March 29, 2012 we posted an Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site addressing the transfer of Campus-Based funds in G5. We also sent this information in an e-mail on April 5, 2012 to the Financial Aid Administrators (FAAs) at all schools participating in Campus-Based Programs and requested that Business Office staff be made aware of the information in the announcement.
Change in G5 Functionality
While transferring Campus-Based funds was not allowed under program rules, there was no system edit to prevent such transfers in G5. On June 18, 2012, the functionality to transfer Campus-Based funds between programs, between schools and between years in G5 was deactivated. As a result, schools are no longer able to systematically transfer Campus-Based funds between programs, between schools, or between award years. This change to G5 is permanent with no override capability.
If you have questions regarding Campus-Based Program fund adjustments, transferring funds between Campus-Based Programs, or the carry forward and carry back authority for Campus-Based funds, contact the Campus-Based Call Center at 877/801-7168. Customer Service representatives are available Monday through Friday from 8:00 A.M. until 8:00 P.M. (ET). You may also e-mail CBFOB@ed.gov.