1. Pat Stephenson U.S. Department of Education 1 FISAP: Back to the Basics

2. What is the Fiscal Operations Report & Application to Participate (FISAP)? It’s the school’s operations report on how Campus-Based Program funds were spent for the reporting year that has just ended It’s also the school’s application to participate in the Campus-Based Programs and request funds for the upcoming year 2

3. When is the FISAP Due? By October 1 of each year –If October 1 falls on a weekend, the due date would be the Friday before. For example, the 2011 date was September 30 –Revisions to the initial FISAP submission may be made through December 15 –December 16 the FISAP form is locked 3

4. Purpose of Tentative Awards To provide a preview of each school’s award To allow schools to identify possible errors in reporting and correct them before Final Awards are calculated 4

5. FISAP on IFAP The updated link will be provided during the session Form, Instructions & Technical Reference published by August 1 Tentative Awards made by February 1 Final Awards made by April 1 5

6. FISAP Part I - Identifying Information, Certification, and Warning Instructions Part II - Application to Participate, Request for Funds, and the Eligible Applicant Grid Part III - Federal Perkins Loan Program Report (cumulative and award year data) 6

7. FISAP Part IV - FSEOG Program Report Part V - FWS Program Report Part VI - Program Summary 7

8. FISAP Part II, Section A Request for funds for the award year –Schools should request an amount they can reasonably expend to ensure adequate funding is available to students –Base Guarantee amount –Fair Share amount 8

9. FISAP Part II, Section A A school will never receive less than their Base Guarantee unless their request for funds is less than the Base Guarantee amount If there are available funds, a school will receive their fair share as calculated on the Tentative/Final funding worksheets if their request for funds is at least that amount 9

10. FISAP Part II, Section A Request for Perkins Loan Level of Expenditure (LOE) –Schools with excess Liquid Capital (Cash on Hand) should request a LOE –Schools requesting a Perkins LOE must actively advance funds to students –Schools with an approved LOE must actively advance funds to students 10

11. Part II, Section B Federal Perkins Loan Liquidation Request –Schools wishing to liquidate their Perkins Loan Portfolio must check “Yes” –Schools must also notify the Perkins Liquidation staff with their intent to liquidate by e-mailing PerkinsLiquid@ed.govPerkinsLiquid@ed.gov 11

12. FISAP Part II, Section C Request for the Underuse of Funds Waiver –Schools with unexpended Campus-Based funds exceeding 10% of their annual allocation should request a waiver to avoid a penalty in the upcoming year 12

13. FISAP Part II, Section D Information on Enrollment –Do not include students only enrolled in classes for audit –Do not include students not enrolled in an eligible program of study 13

14. FISAP Part II, Section E Assessments and Expenditures Coordinate with Business & Registration Offices to ensure reported amounts are correct –Total Tuition and Fees –Total Pell Grant expenditures –Total State grants –Note: ACG/SMART not reported on 13/14 FISAP 14

15. FISAP, Part II, Section F Eligible Applicant Grid –Pull data from your financial aid system ensuring you are only including eligible applicants –Verify data to ensure you are pulling the correct CPS transaction number and accurate taxable and nontaxable income –Make necessary adjustments –Report information 15

16. FISAP Part III, Section A Cumulative Perkins Loan Information –Report Cash on Hand as of 6/30 –Update Cash on Hand as of 10/30 –Add annual info to the cumulative data –Report the discovery of Perkins Loan identity theft on line 26 Loan Principal Adjustments and on line 55 Other Costs or Losses 16

17. FISAP Part III, Section A Cumulative Perkins Loan information –The debit and credit columns must balance –Use line 56 Balancing Adjustments (debits) and line 57 Balancing Adjustments (credits) if needed to balance 17

18. FISAP Part III, Section B Annual Fund Activity during the Award Year –Report all activity for the reporting year Funds transferred from FWS to Perkins Funds transferred from Perkins to FWS and SEOG New Loans Collections Collections from Defaulted Borrowers 18

19. FISAP Part III, Section C Cumulative Repayment Info as of June 30 –Fully retired loans –Purchased loans –Assigned and accepted by ED due to default, liquidation, or Total/Permanent Disability –Borrowers not yet in repayment –Borrowers on schedule in repayment –Defaulted borrowers 19

20. FISAP Part III, Sections D & E Perkins Cohort Default Rate (CDR) –School calculates & reports CDR –Schools with >50% CDR for three consecutive years will be notified by ED to appeal and/or liquidate their portfolio 20

21. FISAP Part IV, Section A SEOG Final Adjusted Authorization –Must agree with Final Funding Worksheet for the award year –Should be reduced if school returned funds through the reallocation process –Should be increased if school received supplemental funding –Should not be adjusted for any other reason (such as a deobligation of funds in G5) 21

22. FISAP Part IV, Section B Amount of SEOG funds Available –Report the transfer of funds between Campus-Based Programs FWS and/or Perkins to SEOG SEOG to FWS –Report Campus-Based funds carried forward/backward –Calculate the total amount of SEOG funds available for the reporting year 22

23. FISAP Part IV, Section C SEOG funds Available to Recipients –Report total funds to recipients –Compute the non-federal share Cash outlay Other resources 23

24. FISAP Part IV, Section D Total Funds Spent in SEOG –Federal share of funds provided to recipients –Amount of Administrative Cost Allowance claimed –Total federal funds spent 24

25. FISAP Part IV, Section E Use of SEOG Authorization –Report total expended amount –Report total unexpended amount Any amount reported as unexpended will be deobligated from G5 around the end of April –The school is responsible to repay the amount deobligated if they drew the funds down from G5 during the year 25

26. Award Authorized Amount and G5 Confirm the amounts authorized for each Campus-Based program matches the amount authorized on the G5 Award History Report 26

27. FISAP Part V, Section A FWS Final Adjusted Authorization –Must agree with Final Funding Worksheet for the award year –Should be reduced if school returned funds through the reallocation process –Should be increased if school received supplemental funding –Should not be adjusted for any other reason (such as a deobligation of funds in G5) 27

28. FISAP Part V, Section B Amount of FWS funds Available –Report the transfer of funds between Campus-Based Programs SEOG to FWS FWS to SEOG/Perkins –Report Campus-Based funds carried forward/backward –Calculate the total amount of FWS funds available for the reporting year 28

29. FISAP Part V, Section C Total Compensation for FWS –Report total earned compensation On-campus earned compensation Off-campus earned compensation in public or private non-profit organizations Off-campus earned for agencies unable to pay the non- federal share and had a federal share up to 90% Off-campus for private for-profit organizations –Report total institutional share of earned compensation 29

30. SEOG and FWS in G5 Please note that the reported total amount of SEOG and FWS expended should equal the total draw down amount for each program in the G5 Award History Report 30

31. FISAP Part V, Section D Federal share of earned compensation Federal share up to 75%, federal share up to 100% for Title III/V waiver, federal share up to 90% for agencies unable to pay their regular non-federal share, federal share up to 50% for off-campus private for-profit organizations ACA Federal share of Job Location and Development (JLD) Total federal share spent 31

32. FISAP Part V, Section E Use of FWS Authorization –Report Expended amount of FWS –Report Unexpended amount of FWS Any amount reported as unexpended will be de-obligated from G5 around the end of April –The school is responsible to repay the amount deobligated if they drew the funds down from G5 during the year 32

33. FISAP Part V, Sections F - I Section F – JLD Expenditures Section G – Community Service Expenditures Section H – Reading Tutor Expenditures Section I – Mathematics Tutor Expenditures 33

34. FISAP Part V – Sections J - K Section J – Civic Education and Participation Activities Expenditures Section K – FWS Disaster Affected Student Expenditures 34

35. Part VI, Section A Distribution of Program Recipients and Expenditures by Type of Student –Independent/Dependent –Income Level –Graduate/Professional –Less than Full Time –Auto Zero EFC Unduplicated Student Recipient Counts in each Category 35

36. Part VI, Section B Calculates Administrative Cost Allowance for each Campus-Based Program 36

37. Transfer of Campus-Based Program Funds The transfer of Campus-Based Program funds should only be noted on the FISAP Beginning mid-June 2012, G5 will disable the drawdown adjustment functionality for Campus-Based awards 37

38. Transfer of Campus-Based Program Funds After G5 disables this functionality, schools will no longer be able to transfer Campus-Based funds in G5 between programs or years 38

39. FISAP Reporting and G5 Reminder: The Campus-Based information reported in Part IV and V of the FISAP must match how the funds were drawn down in G5 for each program 39

40. FISAP Corrections Due by December 15 Initial submission due by October 1 (or the Friday before if October 1 falls on the weekend) Schools have until December 15 to make revisions to FISAP data after the initial submission 40

41. FISAP Corrections Due by December 15 After December 15, revisions must be requested through Campus-Based Programs staff via the FISAP change request process within eCB 41

42. Failure to Make Required FISAP Revisions Impacts tentative and final awards; there are limited funds appropriated annually School may receive less than what they are eligible for or be over-awarded and required to repay after an audit –Base guarantee affected if request is less –Fair share may be affected 42

43. Failure to Make Required FISAP Revisions (cont.) Annual funding amount may be reduced in G5 by ED Amount expended on FISAP is official statement Funds in G5 will be adjusted to match and a negative balance may result 43

44. Reinstatement of Campus-Based Funds in G5 No reinstatement of funds for reporting errors FISAP revision does not initiate reinstatement of Campus Based funds Must request reinstatement of funds from Campus Based Program Manager 44

45. Accurate FISAP Data Schools are requested to make revisions after the December 15 deadline to ensure FISAP historical data is accurate –A-133 audit findings –Award cancellations –Ineligible students –Errors in reporting 45

46. FISAP Change Requests after December 15 FISAP revisions are made in the “working copy” of the FISAP by the school Cannot submit the revisions until Campus- Based staff approves and “unlocks” the FISAP for submission School has five days after the FISAP change request approval to submit the revisions 46

47. FISAP Change Requests after December 15 Campus-Based staff work with the school to ensure revisions are made correctly and that the school understands the possible impact of the revisions made 47

48. FISAP Change Requests after December 15 Examples of changes not permitted: –Increase/decrease in requested SEOG, FWS, and Perkins LOE –Increase/addition of administrative cost allowance for any Campus-Based Program (many schools attempt to increase this amount to eliminate reported unexpended funds after G5 has been reduced) 48

49. FISAP Change Requests after December 15 Items that have the most impact on funding levels for the upcoming year: –Number of enrolled students –Total Tuition and fees –Total grant funding expended –Eligible applicant grid –All Part II information 49

50. FISAP Change Requests after December 15 Items that have the most impact on funding for the reporting year (prior year expenditures): –Part IV - SEOG expended/unexpended funds –Part V - FWS expended/unexpended funds 50

51. FISAP Changes in Part III, Perkins Loan Data Currently this program is not funded by ED Changes made to Part III will not impact the school’s revolving fund Increases in Administrative Cost Allowance are not permitted after December 15 51

52. Common Errors in FISAP Filing Schools do not coordinate with other offices on campus in collecting and reconciling program information Schools do not validate FISAP information provided by third party servicers 52

53. Common Errors in FISAP Filing Mergers /Splits –Schools combine or separate FISAP reporting data too soon –Schools do not request funding for all involved schools –Schools need to work with school compliance staff, FSA’s internal controls, and campus- based staff to ensure proper reporting 53

54. Examples of Offices Involved in Collection/Reporting of FISAP Data Financial Aid Office - awards/disbursements Business Office - disbursements/G5 drawdowns 54

55. Examples of Offices Involved in Collection/Reporting of FISAP Data Registration – enrollment/program of study Admissions – guest student/regular student 55

56. Contact Information We appreciate your feedback and comments Perkins Loan liquidation team e-mail – PerkinsLiquid@ed.gov – for schools in the Perkins Loan Liquidation process or have questions about the process PerkinsLiquid@ed.gov 56

57. Contact Information Phone: eCampus-Based Call Center 877- 801-7168 for all other questions regarding Campus-Based Programs Email: CBFOB@ed.govCBFOB@ed.gov Pat Stephenson – Manager, Campus-Based Programs, 202-377-3782 –Pat.Stephenson@ed.govPat.Stephenson@ed.gov 57

58. Questions?, 58