Maintained for Historical Purposes

This resource is being maintained for historical purposes only and is not currently applicable.

(DLB - 96 - 19) Cash Summary Report / Ending Cash Balance

Bulletin ID
DLB - 96 - 19
PublicationDate: 10/1/96
BulletinID: DLB - 96 - 19

DLB-96-19
October 1996


Dear Colleague:

The Department of Education is very proud of the high standard of
excellence and program integrity that we have been able to achieve
in the Direct Loan Program. We are equally proud of our record in
providing the highest quality customer service and support. Ensuring
that your institutional records and those of our Loan Originating
Center (LOC) are in agreement is vital to maintaining these high
standards.

To assist your school in making sure that your records and the LOC's
match, the LOC provides you with a cash summary report as part of
the reconciliation acknowledgement file. The "Ending Cash
Balance" on this report represents the Department's official cash
balance for Direct Loans at your school as of the reconciliation
period end date. The Department uses this "Ending Cash Balance" to
monitor your school's management of Direct Loan funds.

Therefore, it is essential that you review this figure and compare it to
your own records each month. If your records do not agree with the
Department's, you should contact your School Relations
Representative at 1-800-848-0978 IMMEDIATELY.

Remember, when a discrepancy between the two amounts exists, let
the LOC know as soon as possible in order to resolve the problem.


To alert you of the importance of the "Ending Cash Balance"
amount, all future releases of EDExpress Direct Loan Software (as
well as the Technical Reference) will include the following message
on the Cash Summary Report:

The LOC's Ending Cash Balance represents the Department's
official cash balance for your school at this reconciliation period
end date. If your records do not agree, please notify your School
Relations Representative IMMEDIATELY. Otherwise, the
Ending Cash Balance from the LOC's records will be used to
monitor the cash activity and balances at your school.

If you have any questions or need additional information, please
contact your School Relations Representative at the LOC. Thank
you for your continued support of the Direct Loan Program.

Sincerely,



Diane Voight, Chair
Direct Loan Task Force