Bulletin ID
DLB - 99 - 55
| PublicationDate: 8/1/99 BulletinID: DLB - 99 - 55 August 1999 DLB 99-55 Subject: Helpful Hints for the 1997-98 Final Closeout Period Dear Partner: The following questions and answers provide additional guidelines for processing 1997-98 data during the final review period of August 16-31. Please share the information with all stakeholders involved in the reconciliation process at your school. The most recent 1997-98 Program Year 732 report has been delivered to your mailbox. This report includes all data received and processed through August 6, 1999. You will have until 7pm CST August 31, 1999 to review this report and to submit any issues. What should I do during this period? 1. Import your 732-LOS, review the file very carefully and compare it to your schools internal records as needed. 2. If discrepancies exist between your records and the 732-LOS, submit records to the Loan Origination Center (LOC) via the Title IV Wide Area Network. If there are records you cant submit electronically, please call your CSR for assistance and instructions. If you do submit additional records to the LOC, please notify AFMS with the information described in the instructions below. 3. For Option 2 schools: Please make all final cash drawdowns and reallocations through GAPS in your 98 document. You will have until August 31, 1999 to make cash drawdowns and cash reallocations in GAPS. All other schools: Please contact the Accounting and Financial Management Service (AFMS) at (202) 205-6466. 4. Per regulations, excess cash should be returned to the Department. Please follow the established procedures to return the excess cash. Dont wait for an invoice. 5. Please contact your CSRs or Regional CAM for assistance if needed. When should I contact AFMS about additional records I submitted to the LOC? You may contact AFMS from August 16, 1999 through 7pm CST August 31, 1999. How should I contact AFMS? Contact AFMS only by e-mail. Send the information to David_Hebrank@ed.gov. The subject line must read PYCO Year 4. What information should be included in the e-mail to AFMS? When providing information to AFMS about additional records you submitted to the LOC, please include the following: School name and school code Contact name and number Batch ID number and date it was transmitted via the Title IV Wide Area Network Number of batches on each date Number of items in each batch If applicable, details on cash items to be adjusted or corrected If applicable, details on manual transactions, including the Loan ID What your ending cash balance and/or unbooked loan balance is and what you expect these figures to be after the submitted records are processed What will AFMS do with this information? AFMS will use the information to document outstanding issues, to monitor progress of the overall closeout process and to keep the process moving forward. AFMS will NOT process data for closeout except for cash issues for Option 1 and Standard schools. When will I receive a final 732-LOS for 97-98? We anticipate running the final 732-LOS for 97-98 on October 1. This report should be available to you by October 15. What if I have general closeout questions in the meantime? You may contact the AFMS hotline at (202) 205-6466 with general closeout questions until August 16, 1999. After this date, the hotline will serve to answer GAPS, cash and current year processing questions only. Thank you for continuing to work with us to close out 97-98 and for your continued partnership in the Direct Loan Program. Sincerely, Margaret E. White Chair Direct Loan Task Force |