Posted Date:February 10, 2017
|Author:||John Kane, Acting Service Director, Program Management, Federal Student Aid|
Subject: 2015-2016 Campus-Based Awards Closeout
Closeout of all 2015-2016 Campus-Based program awards has been completed based on the official reporting in the Fiscal Operations Report for 2015-2016 and Application to Participate for 2017-2018 (FISAP).
The 2015-2016 awards closeout for the Campus-Based programs is explained below. In addition, we provide important information regarding the notification process related to the awards closeout.
2015-2016 Awards Closeout for the Campus-Based Programs
The 2015-2016 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 2015-2016 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 assume that the correct amount of expenditures is the amount reported on the FISAP. The unexpended $10,000 will be deobligated from the school’s initial authorization amount in G5.
Adjusting an Incorrect 2015-2016 FISAP Expenditure Report
As announced in the "Campus-Based Programs 2016-2017 Deadline Dates,” published in the Federal Register on January 21, 2016 (81 FR 3398), the deadline for making corrections to FISAP data and edit errors was Thursday, December 15, 2016. However, under limited circumstances, and with sufficient justification and approval from the Department, a school may correct its 2015-2016 Fiscal Operations Report via the eCampus-Based (eCB) website. Requests to make a correction should be made within 5 business days of this posting. Instructions to make such a request are described in the “Post-Deadline FISAP Correction Process” section below.
Post-Deadline FISAP Correction Process
A school initiates a request by: 1) entering the correction, 2) saving it, and 3) 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 specifying the Parts of the FISAP being changed and the reason for the correction
The data is saved as a "Working Copy" of the FISAP. The correction in the “Working Copy” is not considered accepted until Department staff reviews the correction and either allows or denies the correction.
The school will be notified of the acceptance or denial decision of the request to update the FISAP via email. 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 2015-2016 Award Year. If a school drew down more than what was reported as expended in its 2015-2016 Fiscal Operations Report, a negative amount will appear in the "available balance" line in G5 and on reports generated from G5.
Important Note about Negative Balances: If a school has a negative balance in G5, the school must 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 unexpended 2015-2016 FSEOG authorization amount (Part IV, Line 18 of a school's FISAP) from the school's current 2015-2016 FSEOG award authorization amount. The school's final 2015-2016 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 unexpended 2015-2016 FWS authorization amount (Part V, Line 19 of a school's FISAP) from the school's current 2015-2016 FWS award authorization amount. The final 2015-2016 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 2015-2016 expenditures, the school's authorizations were reduced to zero ($0.00).
Notification of Award Decrease
If a 2015-2016 Campus-Based award is decreased through this closeout process, the school is notified by email. In the email, the school is informed that the award decrease is reflected in the Statement of Account posted on the eCB website. This email is sent 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 website. Upon notification, if the authorization decrease results in a negative balance in G5, the school must return the funds through G5.
To access the Statement of Account following receipt of this email:
Log in to the eCB website
Select the "Self-Service" link from the top navigation bar
Scroll to the "Campus-Based Notifications for All Available Award Years" section
Scroll to the "Statement of Account" bullet
Select the "2015-2016" link next to it
For additional information about or assistance related to the 2015-2016 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 email CBFOB@ed.gov.