Publication Date: June 2002
Bulletin ID: DLB-02-16
Summary: 2000-2001 Reconciliation Reminder
June 2002
DLB-02-16
Subject: 2000-2001 Reconciliation reminder
Dear Partner,
This bulletin is a reminder that closeout for the 2000-2001 Program Year should be completed by July 31, 2002. This leaves about 8 weeks to finalize processing for 2000-2001. To be considered successfully closed out, schools must have an ending cash balance of zero, as reflected on their DLSAS/732 report. We encourage schools to use all the tools and assistance available to them to aid in their reconciliation efforts including:
- DLSAS/732 Reports
- 30 Day Warning Reports
- GAPS
- Compare report/program
- Customer Service Representative/Reconciliation Accountant assistance
- Client Account Manager assistance
We also encourage schools to complete some simple steps while reviewing records:
- Ensure drawdowns and excess cash are accounted for and applied to the correct program year.
- Ensure all student disbursements as well as adjustments are accurate, reported, and accepted.
- Ensure all batches have been sent and accepted.
- Resolve all outstanding rejected records.
- Return all unused funds/excess cash to the Loan Origination Center.
If you have any questions about closeout or your ending cash balance, please contact the Loan Origination Center at 1-800-848-0978 or your regional Client Account Manager.
We thank you for your support in the reconciliation effort and for your ongoing partnership in the Direct Loan Program.
Sincerely,
Jane Holman
Acting Director, Title IV Delivery
Schools Channel