2. M.E.G Calabrese University of Minnesota – Twin Cities

3. M.E.G. Calabrese - schmi138@umn.edu University of Minnesota – Twin Cities 15 years experience in Direct Lending Approximately $3 BILLION in Direct Loans disbursed since 95-96. And all reconciled to $0 balances.

4. It’s a Journey, not a destination…

5.  Do not fear it; it’s not that bad.  Work your origination rejects.  Work your change rejects.  Work your disbursement rejects.

6.  Find a method that works for your school, your system and you.  Keep on top of it.

7.  Get your SAS (School Account Statement) as a fixed length report and retrieve from your SAIG mailbox.  SAS’s are generated the first of the month.  Download the files using the FA inbound process.

8.  Enter your cash draws from G5 into “Manage DL Cash Transactions” page.  Reconcile your cash activity.

9.  Run the “Generate Reconciliation Report” under the DL School Account Summary menu. ◦ Identifies loans that exist in your system but not at COD ◦ Reconcile cash draws  Loans or cash transactions that do NOT match show on report. Work these.

10. ◦ Realize that sometimes timing is an issue and that on the next month’s report there won’t be an issue. ◦ If not timing, disbursement or change record not yet accepted at COD. Fix what is wrong.

11.  Keep a copy of the PDF generated for auditors to show you’re doing monthly reconciliation.

12.  Process at U of M: ◦ Load SAS into Access database. ◦ Load PeopleSoft query info into that database. ◦ Use compare to find loans that do not match up (dollar amounts are off). ◦ Fix those loans as needed.

13.  Helpful queries: ◦ Loans on hold (run daily) ◦ Unbooked loans (run weekly) ◦ Failed origination (run daily)

14. M.E.G. Calabrese University of Minnesota schmi138@umn.edu 612-624-0824 schmi138@umn.edu