Posted Date:February 26, 2019
|Author:||Federal Student Aid|
Subject: 2017–18 Campus-Based Awards Closeout
Closeout of all 2017–18 Campus-Based program awards has been completed based on the data submitted on the Fiscal Operations Report for 2017–18 and Application to Participate for 2019–20 (FISAP).
The 2017–18 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.
2017–18 Awards Closeout for the Campus-Based Programs
The 2017–18 awards closeout for the Campus-Based programs involves reconciling a school's authorized award in G5 for each of the Campus-Based programs with the amount reported as expended for the program on the school's 2017–18 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 de-obligated from the school’s initial authorization amount in G5.
Closeout Amount in G5 and on G5 ReportsThe closeout amount will appear in G5 as the authorized amount for the 2017–18 Award Year. If a school drew down more than what was reported as expended in its 2017–18 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 1-888-336-8930. Customer Service Representatives are available Monday through Friday from 8 a.m. to 6 p.m. Eastern time (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 2017–18 FSEOG authorization amount (Part IV, Line 18 of a school's FISAP) from the school's current 2017–18 FSEOG award authorization amount. The school's final 2017–18 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 2017–18 FWS authorization amount (Part V, Line 19 of a school's FISAP) from the school's current 2017-18 FWS award authorization amount. The final 2017-18 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 2017–18 expenditures, the school's authorizations were reduced to zero ($0.00).Notification of Award Decrease
If a 2017–18 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 Common Origination and Disbursement (COD) Web Site. Emails are sent to the school’s Financial Aid Administrator, as provided in the schools most recently submitted FISAP or the FAA listed on the "Contact Info" page in the Campus-Based section of the COD Web Site. 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 COD Web Site
Select the “School” link from the top navigation bar
Select Campus-Based from the left navigation menu
Click “Self-Service” on the left navigation menu
For additional information about or assistance related to the 2017–18 awards closeout for the Campus-Based programs, contact the COD School Relations Center at 1-800-848-0978. You may also email CODSupport@ed.gov.