1. RECONCILIATION DISCUSSION PANEL BOARD: Cindy Mcgee Ronald Adams Ann Peacock NCASFAA Spring Conference – April 10-13, 2016 1

2. Cindy Mcgee/UNC-CH – Direct Loans Reconciliation begins after we have sent our first set of disbursements for a new academic year and continues until the end of our academic year, at which point it is necessary to close out and end with a cash balance equal to that of the US Department of Education’s G5 account for UNC-Chapel Hill. The key offices involved in reconciliation are the Office of Scholarships and Student Aid, the University Cashier’s Office, the Office of Sponsored Research, and the US Department of Education COD system and their corresponding cash management system referred to as the G5. NCASFAA Spring Conference – April 10-13, 2016 2

3. Ronald Adams/DCCC-Campus-Based Federal Work Study Institutional Payroll & Reconciliation Reports NCASFAA Spring Conference – April 10-13, 2016 3 FSEOG Institutional Disbursement & Reconciliation Reports

4. Ann Peacock/WTCC-Pell Grant Funds Internal = External =COD and G5 Run reports frequently and fix errors as quickly as possible. Communication internally is important! It takes one full business day for funding levels to be updated through COD. NCASFAA Spring Conference – April 10-13, 2016 4 and

5. Reconciliation Loans Campus Based Funds Pell Grant Process of reviewing and comparing internal and external data, identify and resolve any discrepancies, and document reasons for remaining cash balances. NCASFAA Spring Conference – April 10-13, 2016 5

6. 2 Part Harmony... Internal reconciliation compares origination and disbursement data (financial aid) to recorded data (business office). External reconciliation compares school data to recorded data at U.S. DOE. NCASFAA Spring Conference – April 10-13, 2016 6

7. Internal Reconciliation Disbursements reported should equal disbursements posted. Funds need to be returned promptly and to the correct program and award year. Monitor and Confirm! NCASFAA Spring Conference – April 10-13, 2016 7

8. External Reconciliation FSA systems (COD and FISAP) matches the internal (college) reconciled data! Net Drawdowns (ND) = Net Accepted & Posted Disbursements (NAPD) Cash transactions = COD, FISAP and G5 transactions NCASFAA Spring Conference – April 10-13, 2016 8

9. Disbursement Reporting Timeframe NCASFAA Spring Conference – April 10-13, 2016 9 15 day reporting requirement for disbursements and disbursement adjustments!!!!!!! Federal Register published March 11, 2015 An institution must submit Pell Grant, Iraq and Afghanistan Service Grant, Direct Loan, and TEACH Grant disbursement records, as applicable, no later than 15 days after making the disbursement or becoming aware of the need to adjust a student's previously reported disbursement. http://ifap.ed.gov/fregisters/FR031115.html

10. Reconciliation – Pell Grant Funds Colleague: Request File from COD Next Day run DOEI and PRER Discrepancies are identified and resolved Reasons for remaining cash balances are documented During the month:Also: PMRR*FMGT CDMR*TFAR PCRR PEVR NCASFAA Spring Conference – April 10-13, 2016 10

11. Returning Campus-Based Funds Complete process through internal process Return funds through G5 Amend FISAP Adjustments allowed for five years FSA Handbook Volume 4, page 4-88 (2015-2016) NCASFAA Spring Conference – April 10-13, 2016 11

12. Regulatory Requirements Direct Loan – 34 CFR 685.300(b) (5) Perkins – 34 CFR 674.19 (d) (1) FWS – 34 CFR 675.19 (b) (2) (iv) SEOG – 34 CFR 676.19 (b) (2) NCASFAA Spring Conference – April 10-13, 2016 12

13. Tips and Tidbits... Warnings Edit code rejects Rejected Direct Loan records can lead to unsubstantiated cash for advance funded schools Rejected Pell Grant, TEACH, and Direct Loan HCM1 school records will not increase available funds in G5 NCASFAA Spring Conference – April 10-13, 2016 13

14. Program Specific Reports & Tools Pell Grant Electronic Statement of Account (SAIG) Pending Disbursement List (SAIG) Reconciliation Report (SAIG) Year-to-Date File (SAIG) Weekly School Monitoring Report (SAIG) Action Queue COD School Relations Center Reconciliations Specialists Electronic Statement of Account-ESOA (COD) Reconciliation Report (COD) Year-to-Date Report (COD) NCASFAA Spring Conference – April 10-13, 2016 14

15. Program Specific Reports & Tools Direct Loans and TEACH Grant Programs Pending Disbursement List (SAIG) Actual Disbursement List (SAIG) School Account Statement-SAS (SAIG) SAS Disbursement Detail on Demand (SAIG) Pending Disbursement Listing (COD) Direct Loan Actual Disbursement List (COD) Direct Loan School Account Statement-SAS (COD) SAS Disbursement Detail on Demand Report (COD) NCASFAA Spring Conference – April 10-13, 2016 15

16. Final Reconciliation – Year End Closeout Complete after ALL disbursements are made for award year Ending cash balance of $0 in ALL systems Cash management and disbursement reporting requirements need to be met Pell/Iraq Afghanistan Service Grant – September 30 th of the award year Direct Loan – July (last week day) of the award year Campus-Based/FISAP – filing deadline – October 1 st **Monitor IFAP closely for announcements and deadlines at all times! NCASFAA Spring Conference – April 10-13, 2016 16

17. NCASFAA would like to thank our Professional Affiliates! NCASFAA Spring Conference – April 10-13, 2016 17