(CB-22-13) Fiscal Operations Report for 2021–22 and Application to Participate for 2023–24 Reporting Instructions and Additional Flexibilities Under the CARES Act

Author
Federal Student Aid
Electronic Announcement ID
CB-22-13
Subject
Fiscal Operations Report for 2021–22 and Application to Participate for 2023–24 Reporting Instructions and Additional Flexibilities Under the CARES Act

The Fiscal Operations Report for 2021–22 and Application to Participate for 2023–24 (FISAP) is now available on the Common Origination and Disbursement (COD) website.

Schools that had Campus-Based expenditures for the 2021–22 award year and schools that wish to request funding under the Campus-Based programs for the 2023–24 award year are required to electronically submit a FISAP via the COD website. As October 1 falls on a Saturday, the deadline for the electronic submission of the FISAP is 11:59 p.m. Eastern time (ET) on Friday, Sept. 30, 2022. Transmission must be completed by midnight.

In a May 31, 2022 Electronic Announcement, schools were informed of the availability of the final 2023–24 FISAP Form, Instructions, Desk Reference and 2023–24 Technical Reference documents.

New Address for Mailing Signature Pages

As announced in a July 25, 2022 Electronic Announcement, the address for the COD School Relations Center has moved from Niagara Falls, NY, to Fairfax, VA as of July 27, 2022. Please send all FISAP and Campus-Based related signature pages or correspondence to the new addresses:

For standard mail:

U.S. Department of Education
P.O. Box 1130
Fairfax, VA 22033

For overnight or commercial courier:

U.S. Department of Education
4050 Legato Road, #1100
Fairfax, VA 22033

Correspondence sent via the U.S. Postal Service to the Niagara Falls, NY address will be forwarded to the Fairfax, VA address until the end of the year. Correspondence sent via overnight mail or a commercial courier (FedEx, UPS, etc.) to the former street address in Niagara Falls, NY cannot be forwarded. Instead, it will be returned to the school.

Supplemental FISAP Reporting Instructions Due to the CARES Act/COVID-19 Emergency

Refer to the Jan. 15, 2021 Electronic Announcement (and chart attachment) for the updated guidance and applicable timeframes for all Campus-Based waivers and flexibilities referenced below.

  1. Schools that return more than 10% of their 2021–22 total (initial plus supplemental) Federal Work-Study (FWS) and/or Federal Supplemental Educational Opportunity Grant (FSEOG) programs allocation MUST request an underuse waiver in Part II, Section C to avoid incurring the underuse penalty on their 2023–24 FWS or FSEOG awards. Underuse waivers will not be automatically extended to all schools for the 2023–24 award year.

  2. Section 3503 of the CARES Act permits schools to transfer up to 100% of their unexpended FWS allocation to FSEOG. This flexibility was extended through the end of the payment period that includes the last date that the national emergency is in effect.

    The amount transferred for 2021–22 must be reported in Part IV, Section B, Field 2, and Part V, Section B, Field 4a. If more than 25% was transferred, edits 08011, 09043, and 09190 may be prompted during the validation process (prior to submission). These are “soft” edits that will not prevent submission and can be explained using the option to “provide additional information.” A brief, one-line explanation will suffice to resolve the edits.

  3. As a reminder, per Section 3503 of the CARES Act, institutions were exempt from providing an institutional share for FSEOG and FWS for the 2020–21 award year, however this waiver was not extended for the 2021–22 award year. Unless your school received a waiver of the institutional share due to its eligibility for a Title III or Title V program, schools were otherwise required to provide the institutional share, and the amount contributed for each program must be reported in Parts IV and V, Section C, Field 13.

  4. Section 3504 of the CARES Act provides that a school may use any amount of its FSEOG allocation (including funds transferred from FWS) to award emergency financial aid grants to assist undergraduate or graduate students for unexpected expenses and unmet financial need as the result of a qualifying emergency. This flexibility was extended through the end of the payment period that includes the last date that the national emergency is in effect.

    Emergency FSEOG payments made for 2021–22 must be included within the total amount of “Funds to FSEOG Recipients” reported in Section C, as well as the “Federal Funds Spent for the FSEOG Program” in Section D. Additionally, they must be reported in Section F, “Information about FSEOG Disaster-Affected Students.”

    Note: The permissibility to transfer unexpended FWS to FSEOG and thereby make both regular FSEOG awards and FSEOG Emergency Grants continues for the 2022–23 award year until the end of the payment period that includes the last date of the national emergency or June 30, 2023, whichever is earliest.

  5. Section 3505 of the CARES Act and the guidance provided in an April 3, 2020 Electronic Announcement permits for continued payment of FWS wages paid to students whose employment was interrupted by a COVID-19 related event. This flexibility was extended through the end of the payment period that includes the last date that the national emergency is in effect.

    These FWS payments made for 2021–22 must be included within the appropriate categories of “Total Compensation for FWS” reported in Section C, as well as “Funds Spent from the Federal Share of FWS” in Section D. Additionally, they must be reported in Section K, “Information about FWS Disaster-Affected Students.”

General Reporting Reminders

  1. Updates to the FISAP and instructions have been outlined in a May 31, 2022 Electronic Announcement.

  2. Only Federal Pell Grant disbursements made from 2021–22 funds should be reported in Part II, Section E, Field 23. If crossover payments are made from 2022–23 funds, the disbursements should be reported in next year's FISAP (Fiscal Operations Report for 2022–23 and Application to Participate for 2024–25).

  3. The financial aid and business office staff must coordinate efforts to reconcile G5 activity and disbursement/earning records in order to report accurately on the FISAP.

  4. If funds are drawn from G5 that exceed the amounts reported as expended on the FISAP, a negative balance will result, and the school will need to return funds to G5.

    Example: If a school's FWS authorized amount was $50,000 and the school reported an expended amount of $40,000 on its FISAP (as calculated in Part V, Section E, Field 18), the school's award will be closed out at the expended amount of $40,000. If more than $40,000 has been drawn in G5, a negative balance for the amount drawn over $40,000 will result and that amount must be returned.

  5. Appropriate Administrative Cost Allowance (ACA) should be calculated and claimed (see Volume 6 of the Federal Student Aid Handbook). After Dec. 15, 2022, schools are not permitted to make any additional claims to the ACA that were not previously reported on its FISAP.

    Note: No Federal Perkins Loan Program ACA is permitted to be claimed.

  6. Report the federal share of Perkins Loan funds that your school returned to the Department of Education in Part III, Section A, line 28.1 “Repayments of fund capital to federal government” by adding the amount you returned in 2021–22 to the cumulative amount previously reported in this field.

  7. Report the institution’s service cancellation reimbursement amount that your school was instructed to reimburse itself from the Perkins Fund in Part III, Section A, line 28.2 “Service cancelation reimbursement received on or after 07/01/2019” by adding the amount you were instructed to reimburse in 2021–22 to the cumulative amount previously reported in this field.

  8. Report the institutional share of Perkins Loan funds that you returned to your school in Part III, Section A, line 30.2 “Repayments of excess/liquidated fund capital to Institution” by adding the amount you repaid the school in 2021–22 to the cumulative amount previously reported in this field.

Contact Information

For additional information about the FISAP or the referenced documents, contact the COD School Relations Center at 1-800-848-0978. You may also email CODSupport@ed.gov.