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Financial Aid

Financial Aid . Wenatchee Valley College October,2014 Cheryl Fritz, Associate Director Financial Aid Janice Fredson, Director Fiscal Services. Topics . Database Overview FAEXP Database Duplicate Check Amounts DATAX SM9815R Reconciliation Questions.

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Financial Aid

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  1. Financial Aid Wenatchee Valley College October,2014 Cheryl Fritz, Associate Director Financial Aid Janice Fredson, Director Fiscal Services

  2. Topics • Database Overview • FAEXP Database • Duplicate Check Amounts • DATAX SM9815R • Reconciliation • Questions

  3. FMS – Application & Databases Customer Accounts database: Stores Charges, Sponsorships CA Accounts Payable database: Stores pending check data AP General Ledger database Stores all financial transactions. GL FMS = Financial Management System (full system contains many more databases)

  4. FAS – Application & Databases FAM FAM database: Financial Aid Management System Stores FA Applicants/Recipients FAEXP FAEXP database: Stores Financial Aid Expenditure data FAM = Financial Aid Management System

  5. FAEXP - Financial Aid Expenditures Database • Expenditures are posted to FAEXP when: • Cashiering screens are used to manually pay open charges online • FG905R – “Auto Application of Financial Aid” (AutoApp) pays open charges • SM9411J – “Update FAEXP w/FMS Transactions” job runs (scheduled after checks are printed) • Refunds are made back to Financial Aid

  6. Paid at Cashiers • When Auto-App or Cashiering pays open charges, the expenditure is automatically posted to FAEXP– Immediate Outstanding Tuition and other Charges FAEXP GL Paid by Auto App • When check calc creates a pending check, the expenditure is posted to FAEXP in batch – not immediately • Several other jobs must run first • SM9411J – Update FAEXP w/FMS Transactions job is the one that actually posts the expenditure

  7. Outstanding Tuition Charges FAEXP GL Paid at Cashiers Paid by Auto App When Auto-App or Cashiering pays open charges, the expenditure is automatically posted to FAEXP.

  8. Performs these tasks… Calculating a Check AG906R AG906R: Posts CC to SAFERS Tracking (Screen 5) AG906R: Creates a batch file to be picked up by FG036D AG906R: Performs SAFERS edits Funds Remaining? Prints these reports… Prints Rejected Check List. Prints Pending Check List and Check Release Form. FAEXP No. Zero Check YES When check calc creates a pending check, the expenditure is posted to FAEXP in batch – not immediately.

  9. Run FG036D: To loads checks into AP FG036: Picks up the batch file created by AG906R and creates AP invoice AP Run Daily Accounting FG001D: BM3102J prints checks GA1911J creates FAEXP extract file FAEXP Close Batch! FG001D: Prints checks from AP database FG001D: Puts all FA expenditures in batch file (payroll, GAT Checks) FG001D: Updates GL for all FA expenditures Run SM9411J to update FAEXP Prints Checks GL Expenditures are posted to FAEXP when all batch processes complete!

  10. Duplicate Check Amounts

  11. Duplicate Checks/Amounts • Things that staff need to know: • Calcing a check and printing a check are two separate jobs • Some colleges do not run both jobs every night. Staff must be aware of the turn-around time for checks to be posted to the FAEXP database • Posting to FAEXP happens only after a check is printed and SM9411J has run • Once a check has been calculated, another check should not be requested until AFTER the check has printed and the disbursement has been posted to FAEXP • If a check is recalculated while it is still pending, the system does not know it has spent the money on the first check and will include that amount in the second check

  12. Preventing Duplicate Check Amounts • Before requesting a new check, financial aid staff can do one of the following to make sure that the previous check has posted to FAEXP: • Run Datax SM9815R • Review SM9411a – FAEXP Daily Transaction Log Report • Once the previous check has posted, another check can be requested

  13. Datax SM9815R

  14. SM9815R – FAEXP Detail Report

  15. Running SM9815R Depending on how you log in, you will access Datax from one of these two menus

  16. Reconciliation

  17. Internal vs. External Reconciliation • Internal Reconciliation • Between financial aid system and FAEXP database • Between business/bursar/comptroller office records and financial aid system, to ensure that Net Drawdowns (ND) = Net accepted and posted disbursements (NAPD) • External Reconciliation • Between school records and the DOE to ensure thatinternal school disbursement records (both business office and financial aid office) match exactly to disbursement records in FSA systems - COD and FISAP

  18. Key Reconciliation Players: Pell/DL/TEACH Financial Aid Office Business Office Reconcile Internally Reconcile with COD Reconcile with COD G 5 COD (Resource)

  19. Key Reconciliation Players: Campus-Based Financial Aid Office Business Office Reconcile Internally Report/Reconcile Data on the FISAP Must be Equal Drawdown/Reconcile Funds in G5 G 5 eCB (FISAP)

  20. Reconciliation • For the financial aid office, Pell reconciliation actually depends on two separate, but parallel, reconciliation processes • FAM Award Tab comparison to FAEXP • DOE Pell YTD file comparison to FAM Database • SBCTC-IT provides several options to aid in the reconciliation process by comparing expenditure data in the FAEXP database to award data in the FAM database.

  21. Reconciliation Tools • SBCTC-IT provides several options to aid in the reconciliation process by comparing expenditure data in the FAEXP database to award data in the FAM database • AG941A - Preliminary Award Disbursement Reconciliation Update • SM9431J Report (output from AG941A) • SM9421J - Quarterly Award Disbursements Report • SM9420J - Annual Award Disbursements Report • SM9425J – Financial Aid Expenditures Report • Datax SM9815R *Note: Many schools do not run AG942A (Final Award Disbursement Reconciliation) as it updates awards and they prefer to resolve the discrepancy and fix as appropriate.

  22. G5 (GAPS) • COD shows some of the information that is in G5, but the screens are not the same • DOE Recommends Read Only Access for FAAs

  23. G5 Award Numbers • G5 award numbers are program and award year specific • Example for 2013/2014 award year

  24. http://apps.sbctc.edu/jobdoc/ http://www.sbctc.ctc.edu/college/_i-applications.aspx

  25. Questions? Cheryl Fritz, Associate Director Financial Aid cfritz@wvc.edu Janice Fredson, Director Fiscal Services jfredson@wvc.edu

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