Posted Date:February 10, 2015
|Author:||Sue O'Flaherty, Service Director, Program Management, Federal Student Aid|
Subject: 2013-2014 Campus-Based Awards Closeout
We have completed the closeout of all 2013-2014 Campus-Based program awards based on the official reporting in a school's Fiscal Operations Report section of the Fiscal Operations Report for 2013-2014 and Application to Participate for 2015-2016 (FISAP).
The following explains the 2013-2014 awards closeout for the Campus-Based programs and provides important information regarding the notification process.
2013-2014 Awards Closeout for the Campus-Based Programs
The 2013-2014 awards closeout for the Campus-Based programs involves reconciling a school's authorized award for each of the Campus-Based programs with the amount reported as expended for the program on the school's 2013-2014 Fiscal Operations Report. For example, if a school's Federal Work-Study (FWS) authorized amount was $50,000 and the school reported an expended amount of $40,000, the school's award will be closed out at the expended amount of $40,000. We have assumed that the correct amount of expenditures is the amount reported on the FISAP.
Adjusting an Incorrect 2013-2014 FISAP Expenditure Report
As announced in the "2014-2015 Deadline Dates for Campus Based Programs," published in the Federal Register on January 15, 2014 (79 FR 2646), the deadline for making corrections to FISAP data and edit errors was Monday, December 15, 2014. However, under limited circumstances, and with sufficient justification and our advance approval, a school may correct its 2013-2014 Fiscal Operations Report via the eCampus-Based (eCB) Web site. Requests to make a correction should be made within 5 business days of this posting following the Post-Deadline FISAP Correction Process instructions described below.
Post-Deadline FISAP Correction Process
A school initiates a request by entering the correction, saving it, and clicking on "Submit."
Because the online application does not allow changes to the FISAP after the December 15th deadline, any correction made after the deadline is considered a "Request." The school must click on “Change Request”, enter a description, the circumstances, and a justification for the correction, and then submit.
The data is saved as a "Working Copy" of the FISAP. The correction is not considered accepted.
Department staff reviews the correction and will either allow or deny it.
- The school is notified of the decision via e-mail. If the correction is allowed, the school is instructed to access the FISAP, ensure that the correction has been saved, and then click on "Submit." At this point, the correction is accepted.
Note: If changes to the FISAP are authorized, only the reporting will be updated. No funds will be reinstated.
Closeout Amount in G5 and on G5 Reports
The closeout amount will appear in G5 as the authorized amount for the 2013-2014 Award Year. If a school drew down more than what was reported as expended in its 2013-2014 Fiscal Operations Report, a negative amount will appear in the "available balance" line in G5 and on reports generated out of G5.
Important Note about Negative Balances: If a school has a negative balance in G5, the school needs to refund the amount of the negative balance using G5. If a school has made the refund but posted it to the wrong program, the school must make a drawdown from the program in which the incorrect refund was posted and then refund the amount to the correct program.
For assistance in making refunds or drawdowns, contact the G5 Hotline at 888/336-8930. Customer Service Representatives are available Monday through Friday from 8:00 A.M. to 6:00 P.M. (ET).
Closeout Amounts Determination Process
Closeout amounts were determined as follows:
For the Federal Supplemental Educational Opportunity Grant (FSEOG) Program, the closeout amount was determined by subtracting the expended 2013-2014 FSEOG authorization amount (Part IV, Line 17 of a school's FISAP) from the school's current 2013-2014 FSEOG award authorization amount. The school's final 2013-2014 FSEOG award amount is now equal to the expended FSEOG authorization amount (Part IV, Line 17 of the school's FISAP).
For the FWS Program, the closeout amount was determined by subtracting the expended 2013-2014 FWS authorization amount (Part V, Line 18 of a school's FISAP) from the school's current 2013-2014 FWS award authorization amount. The final 2013-2014 FWS award amount is now equal to the expended FWS authorization amount (Part V, Line 18 of the school's FISAP).
Note: If a school did not submit a FISAP reporting 2013-2014 expenditures, the school's authorizations were reduced to zero ($0.00).
Notification of Award Decrease
If we decreased a 2013-2014 Campus-Based award through this closeout process, we will notify the school by e-mail. In the e-mail, we will inform the school that the award decrease is reflected in the Statement of Account posted on the eCB Web site. We will send this e-mail to the school's Financial Aid Administrator, as provided in the school's most recently submitted FISAP or as updated via the "Contact Info" page on the eCB Web site. Upon notification, the school must return funds through G5.
To access the Statement of Account following receipt of this e-mail, log in to the eCB Web site, select the "Self-Service" link from the top navigation bar, and scroll to the "Campus-Based Notifications for All Available Award Years" section. Then, scroll to the "Statement of Account" bullet and select the "2013-2014" link next to it.
For additional information about or assistance related to the 2013-2014 awards closeout for the Campus-Based programs, 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.