 Who is going to reconcile?  What needs to be done to close out the year?  How are we going to complete the process?  When does this all have to be done by?

 Two-Step Process  Reconcile Monthly  Program Year Close Out  Software: DL Tools vs. School  Catching Errors  Direct Loan Resources

 The goal is to achieve a $0 balance.  Match all your records with COD’s Step 1: Total Draws = Total COD (G5/SUNY) Know the reason for any excess cash Step 2: Total Draws = Total Booked Loans Clear up any unbooked loans

 During an academic year many schools will have a balance showing at the end of each month due to timing.  Know where the excess cash is coming from.  Monitor loan records for errors, unbooked loans and rejected disbursements.  Watch for multiple aid years.  Cash > Accepted and older than 30 days, must be $0 to be in COMPLIANCE!

To be considered successfully closed out, the school must –  Have an Ending Cash Balance of $0 and Total Net Unbooked Disbursements of $0, as reflected on the School Account Summary (SAS), and  Complete the Balance Confirmation on the COD website. Work with your Customer Service Representative/ Reconciliation Specialist as needed.

 Desired close out is within 45 days of latest award end date.  The final processing day of the program year is Friday, July 29,  All data must be received and accepted by this date in order to be included in the school’s final Ending Cash Balance for the year.  Schools unable to meet the deadline MUST contact the COD School Relations Center.

 DL Tools provides a way to import your SAS and data from your school software and run comparison reports to find errors.  Your school software may provide a process to assist with reconciliation.  Develop your own reports to find errors both during and at the end of the year.

 Download at fsadownload.ed.gov  Install the program  Import data files into DL Tools SAS in Year-To-Date Cash Detail Loan Detail Disbursement Detail  Run comparison reports to find errors

After login select an aid year from the drop-down menu. Import each of your data files. File Menu  Import Easy to read the SAS report.

Easily readable format for the SAS report. Receive a confirmation window after each import.

Run reports. File Menu  Print Select which reports to run. Comparison of data from SAS and files you imported from school software. Output shows records that do not match between the SAS (COD) data and the files you imported (DLEXCASH, DLEXLOAN, DLEXDISB). SUNY State-Operated Campuses: problem with Cash Detail Comparison

The Banner software allows you to –  Import the SAS file and obtain a readable format with the RPRDUxx process.  Extract the 3 data files needed to use DL Tools by running the RPRCPxx process. Then import all 4 files into the DL Tools software and run the comparison reports.

 Determine if your software can - Import the SAS file to a readable format Has reports available to assist with reconciliation  Determine if you need to write some reports Extract data to use in MS Excel for comparison by fund type. Request a Funded Disbursement List (FDL) from your Reconciliation Specialist at COD.

 Watch for potential errors ( , IFAP, COD)  COD provides all the information you need to keep up with reconciliation.  Each time a batch of files is sent to COD you get an acknowledgement (CRDL) response file listing any errors.  The Pending Disbursement List (DIAA) shows scheduled disbursement dates that have past or are within 30 days.  Student Account Summary (SAS) report details each student and cash detail.  DL Tools software provides easy comparison reports.

 COD  COD School Relations Center or  IFAP COD Technical Reference Direct Loan Electronic Announcements Direct Loan School Guide The Blue Book The Code of Federal Regulations (eCFR)  National Direct Student Loan Coalition

Heather M. Adner Sr. Financial Aid Advisor SUNY CANTON (315)