Financial Aid

Wenatchee Valley CollegeOctober,2014

Cheryl Fritz, Associate Director Financial Aid

Janice Fredson, Director Fiscal Services

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Topics

Database Overview

FAEXP Database

Duplicate Check Amounts

DATAX SM9815R

Reconciliation

Questions

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FMS – Application & Databases

CA

Customer Accounts database:Stores Charges, Sponsorships

AP

GL

Accounts Payable database:Stores pending check data

General Ledger databaseStores all financial transactions.

FMS = Financial Management System (full system contains many more databases)

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FAS – Application & Databases

FAM

FAEXP

FAM = Financial Aid Management System

FAM database:Financial Aid Management System

Stores FA Applicants/Recipients

FAEXP database:Stores Financial Aid Expenditure data

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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

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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

Paid atCashiers

FAEXPGL

OutstandingTuition

and other Charges

Paid byAuto App

When Auto-App or Cashiering pays open charges, the expenditure is automatically posted to FAEXP – Immediate

OutstandingTuition Charges

Paid byAuto App

FAEXP

GL

When Auto-App or Cashiering pays open charges,the expenditure is automatically posted to FAEXP.

Paid atCashiers

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FAEXP

Calculating a CheckAG906R

FundsRemaining?

No.Zero

Check

YES

Prints PendingCheck List and Check ReleaseForm.

When check calc creates a pending check, theexpenditure is posted to FAEXP in batch – not immediately.

Prints RejectedCheck List.

Performs these tasks…

Prints these reports…

AG906R:Performs SAFERS edits

AG906R:Posts CC to SAFERS Tracking (Screen 5)

AG906R:Creates abatch file tobe picked up by FG036D

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AP

GL

Run SM9411J to update FAEXP

FAEXP

Prints Checks

Expenditures are posted to FAEXP when all batch processes complete!

CloseBatch!

Run FG036D:To loads checks into AP

FG036:Picks up the batch file created by AG906R and creates AP invoice

Run Daily Accounting FG001D:

BM3102J prints checks

GA1911J creates FAEXP extract file

FG001D:Puts all FA expenditures in batch file (payroll, GAT Checks)

FG001D:Prints checks from AP database

FG001D:Updates GL for all FA

expenditures

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Duplicate Check Amounts

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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

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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

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Datax SM9815R

SM9815R – FAEXP Detail Report

Report: SM9815R – Financial Aid Expenditure Detail (not year-to-date)

Purpose & Description:

Extract from the FAEXP Database a detailed record for all transactions for the last unpurged month for a specific quarter of expenditures.

Process ID: DATAXGroup: INFORMAccount: PLIBDatabase Passwords Required:

TBL1 and FAEXP

Selection Criteria:  

SIDEnter a specific student ID number to pull summary for an individual student or leave blank for all students.

YRQYear quarter for which you wish to pull records, for example, B452

FYR Fiscal Year, for example, 1415

FAEXP-ENTR-DATE Leave blank to select all.COL Enter college/campus code, for example, 01, 150, blank

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Running SM9815RDepending on how you log in, you will access Datax from

one of these two

menus

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Reconciliation

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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 that internal school disbursement records (both business office and financial aid office) match exactly to disbursement records in FSA systems - COD and FISAP

Key Reconciliation Players: Pell/DL/TEACH

BusinessOffice

FinancialAid

Office

G 5COD

Reconcile Internally

Reconcile with COD Reconcile with COD

(Resource)

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Key Reconciliation Players: Campus-Based

BusinessOffice

FinancialAid

Office

G 5

eCB (FISAP)

Reconcile Internally

Report/Reconcile Data on the FISAP

Drawdown/Reconcile Funds in G5

Must be Equal

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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.

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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.

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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

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G5 Award Numbers

G5 award numbers are program and award year specific

Example for 2013/2014 award year

Program G5 Award Number Award Year

Direct Loan P268K14#### Trailing Year

TEACH Grant P379T14#### Trailing Year

Pell Grant P063P13#### Leading Year

IASG P408A13#### Leading Year

Campus-Based FWS: P033A13####SEOG: P007A13####

Leading Year

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

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Questions?

Cheryl Fritz, Associate Director Financial Aid cfritz@wvc.edu

Janice Fredson, Director Fiscal Services jfredson@wvc.edu