Transcript Funds Management

Funds Management
Introductions
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Name
Organization
Title/Function
Job Responsibility
SCT Banner Experience
Expectations
SCT Banner Financial Aid 4.0
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Objectives
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Performance Objectives
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Create and maintain Financial Aid funds
Create default award and disbursement schedules
Create fund-specific award and disbursement
schedules
Create fund awarding and disbursement rules
Reconcile funds, monitor fund balances
Run basic fund reports
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Funds Management
Module overview
Process overview
 Funds Management menu
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No control menu -- the Funds Management
menu is itself a control menu
Module definition
Establish fund type codes
 Establish fund source codes
 Establish fund base information
 Creation of funds (part 1)
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Funds Management
Module overview (cont.)
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Module definition (cont.)
Create default award and
disbursement schedules
 Create fund-specific award and
disbursement schedules
 Disbursement dates
 Memo expiration dates
 Award percentages by term
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Funds Management
Module overview (cont)
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Funds Management Form (RFRMGMT)
Budget allocation, award minimum and
maximum fund-specific options for each aid
year
 Funds and budget components
 Funds and detail codes
 Funds and applicant requirements
 Funds and message codes
 Disbursement and packaging options
 Form is aid year-specific
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Funds Management
Module overview (cont)
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Creation of funds (part 2)
Fund inquiry forms
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Fund Budget Inquiry Form (RFIBUDG)
Federal Fund ID Inquiry Form (RFIFFID)
Federal Rules Inquiry Form (RFIFEDR)
Manage Funds (ROAMGMT)
Establish fund award and disbursement
rules (RORRULE)
Processes related to Funds Management
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Funds Management:
Process overview
Fund Mgmt
Menu
7
Fund
Awarding
& Disb.
rules
RORRULE
Fund
type
codes
Award &
Disb.
Schedules
Fund Specific
1
6
Fund
source
codes
2
Award &
Disb.
Schedules
Standard
Fund
base
info.
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4
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Fund Mgmt
Form
Aid year and
fund-specific
options
Fund
ROAMGMT
Reconciliation &
management
RUPFNDBL.SQL
RSLFNDBL.SQL
Packaging
Process
Disbursement
Process
Module definition
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Establish fund type codes
Define the fund’s basic characteristics
 Define fund type
 Create Accounts Receivable
detail codes
 Associate appropriate Federal Fund ID
as required - source codes, etc.
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Module definition
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(cont.)
Establish fund source codes
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Indicate if fund will come from:
Federal
 State
 Organization
 Other
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Create as many fund source codes as
necessary
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Examples: Institutional Endowment Fund
Institutional Athletic Department
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Module definition
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(cont.)
Establish fund base information
Establish a code and description
 Associate an A/R detail code with each
Financial Aid fund code
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This is a “one to one” relationship; each fund
code must have a distinct A/R detail code
Associate Fed ID code, if applicable
 Establish the print order for award letters
 Associate fund type and source codes
previously discussed
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Module definition
RFRBASE
Establish
base
information
Associate
fund source
and fund
type codes
(cont.)
Module definition
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(cont.)
Review
Fund type codes established on the
Financial Aid Fund Type Validation Form
(RTVFTYP)
 Fund source codes established on the Fund
Source Code Validation Form (RTVFSRC)
 Fund base information on the Fund Base
Data Form (RFRBASE)
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Rule and validation forms
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Module definition
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(cont.)
Create default award and disbursement
schedules
Semester organization vs. quarter or term
organization
 Determine the percentage of the award by
term
 Determine the percentage of disbursement
within a term, multiple disbursements in
same term?
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SCT Banner is term driven
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Module definition
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(cont.)
Create default award and disbursement
schedules (cont.)
Set the date funds will be disbursed
 Set the memo expiration date
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NOTE: The session on fund disbursement will
describe “memo’d” financial aid in detail
Will create both default schedules and
fund-specific schedules
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Module definition
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(cont.)
Create fund-specific award and
disbursement schedules
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Create fund-specific schedules for funds
that are unique in awarding and
disbursement requirements
Example: Scholarship pays 25% for fall
and 75% for spring, based on fall grades
Set the date funds will be disbursed
 Set the memo expiration date
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Funds Management Form
(RFRMGMT)
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Funds Management Form
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Main form for fund options
aid year-specific
 9 windows
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- Set Budget amount, fund min and max amount
- Offer, accept, and decline status
- Memo and disbursement options, lock
disbursements
- Associate the fund with budget components,
A/R detail codes, tracking requirements and
messages
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RFRMGMT
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(cont.)
Fund type, source and fed fund ID*
default to RFRMGMT from RFRBASE
Set the amount budgeted for the year,
transfer amount, and over-commitment
percentage
Make specific comments about a fund
Review packaging and disbursement
options in detail from SCT Banner
If applicable
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RFRMGMT
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(cont.)
Associating funds with other
modules
Funds
 Funds
 Funds
 Funds
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and
and
and
and
budget components
A/R detail codes
tracking requirements
message codes
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RFRMGMT
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(cont.)
Funds and budget components
Associate a budget component with a
particular fund
 Set the percentage of the budget component
that the fund award should not exceed
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Example: A Barnes & Noble scholarship that cannot
exceed the budgeted amount for books and supplies
Books and Supplies component = 100%
System will not award above books and supplies
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RFRMGMT
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(cont.)
Funds and A/R detail codes
Associate an A/R detail code with a particular
fund
 Set the percentage of the detail code that
the fund award should not exceed, just like
you would for a budget component
Example: Institutional grant that meets
100% of need up to 50% of tuition charges
Tuition detail code = 50%
System will not award above 50% paid to
tuition
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RFRMGMT
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(cont.)
Funds and message codes
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Messages in SCT Banner can be
used in a variety of ways
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Tracking requirements
Budget components
Student specific messages, and …..
With fund codes
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RFRMGMT
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(cont.)
Funds and message codes
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(cont.)
In the previous example for tracking
requirement association:
Thank You letter required for scholarship
You may wish to have a message that
tells the student that a Thank You letter is
required for that particular scholarship
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Creation of Funds
(part 2)
...From part 1
RFRBASE
Funds Management
Form (RFRMGMT)
Packaging and
Disbursement
Default
Award Sched.
RFRDEFA
Fund
Award Sched.
RFRASCH
Disbursement & Fund
Awarding Rules Form
RORRULE
Inquiry forms
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Fund Budget Inquiry Form (RFIBUDG)
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Federal Fund ID Inquiry Form (RFIFFID)
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View status of entire budget for a specific
fund per aid year
Delivered from SCT, lists all Federal Fund ID’s
Federal Rules Inquiry Form (RFIFEDR)
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Delivered from SCT, displays fund awarding
rules per federal regulations
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Fund Budget Inquiry Form
(RFIBUDG)
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Understanding/reading this form
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For Packaging
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In determining whether there is enough money remaining to
make additional offers to students, the System adds together
Current Offer + Declined + Canceled and compares it to
Available to Offer. Additional awards can be offered if:
Available to Offer - (Current Offered + Declined +
Canceled) > 0
For Disbursement
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In determining whether there is enough money remaining to
pay students, the System adds Memo’d + Authorized +
Paid and compares it to Total Allocated. Additional
payments can be made if: Total Allocated - (Memo’d +
Authorized + Paid) > amount paid
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Understanding/
reading this form (cont.)
• For the following examples:
– Total Allocated will = $ 10,000
– Amount Available to Offer will = $ 12,000
(over commit % = 120)
– Accepted amount will = $ 5,000
– Paid amount will = $ 0.00
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‘Remaining’ columns
calculated
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Current Offer: Remaining amount = ($ 7,000.00)
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Current Offer: Remaining % = (58.34 %)
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Available to Offer - (Current Offered + Declined +
Canceled)
$ 12,000.00 - ($ 5,000.00 + 0.00 + 0.00)
(Available to Offer - (Current Offered + Declined +
CANCEL)) / AVAILABLE TO OFFER
($ 12,000.00 - ($ 5,000.00 + 0.00 = 0.00)) / $ 12,000.00
Current Offer: Actual amount remaining = ($ 5,000.00)
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TOTAL ALLOCATED - CURRENT OFFERED = Amount
Remaining
$ 10,000.00 - $ 5,000.00 = $ 5,000.00
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‘Remaining’ columns
calculated (cont)
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Accepted - Remaining Amount: ($ 0.00)
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Current Offered - Accepted
$ 5,000.00 - $ 5,000.00
Accepted - Remaining %: ($ 0.00)
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Paid - Remaining Amount: ($ 5,000.00)
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(Current Offered - Accepted) /
Current Offered
($ 5,000.00 - $ 5,000.00) / $ 5,000.00
Accepted - Paid
$ 5,000 - $ 0.00
Paid - Remaining %: (100%)
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(Accepted - Paid) / Accepted
($ 5,000.00 - $ 0.00) / $ 5,000.00
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Federal Fund ID Inquiry
Form (RFIFFID)
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Displays all federal funds and
the federal ID for that fund
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Delivered by SCT
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Hard-coded
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Federal Rules Inquiry Form
(RPIFEDR)
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Displays rules for all federal funds
Class load
 Award minimum and maximum
 Extended Loan Option (ELO), HEAL
Loan, and Additional Stafford
Eligibility
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Used in packaging process
 Delivered by SCT
 Hard-coded
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Manage Funds Form
(ROAMGMT)
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Use segments from entire Funds
Management module
Monitor, update, and create financial aid
fund activity
Sort by fund source, type or all funds
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From RT
Custom display displays funds by:
Available to offer
 Current offer
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Accepted
 Declined
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 Remaining
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Manage Funds Form
(ROAMGMT)
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(cont.)
View information on a yearly basis or
term by term
Detailed information about awards made
to all students from a specific fund for a
particular year
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Manage Funds (ROAMGMT)
Sort by
fund
source,
type,
or all funds
Custom
display
Financial Aid Selection
Rules Form (RORRULE)
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Create specific fund awarding and
disbursement rules
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Create and modify selection criteria to
award aid to students
Create and modify selection criteria to
disburse aid to students
Assign funds to applicants within a certain
packaging group
Driven by rule type
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A, F, and D pertain to Funds Management
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Processes related to
Funds Management
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Account Balances Report (RFRABAL)
Prints detailed information on the status
of each fund for a given aid year
 7 parameters:
Aid year code, fund code, source, type, fed
fund ID, term code, sort (ascending or
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descending)
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Fund Budget Report (RFRBUDG)
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Prints fund budget allocation information for
each fund account for a given aid year
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Processes related to
Funds Management (cont.)
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Fund Budget Report (RFRBUDG)
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(cont.)
6 parameters:
Aid year code, fund code, source, type,
federal fund ID, sort sequence
Fund Description Report (RFRFUND)
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Provides detailed descriptive information
on the fund, System rules, and budget
allocation assigned each fund for a given
aid year
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Processes related to
Funds Management (cont.)
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Fund Description Report (RFRFUND)
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(cont.)
6 parameters:
Aid year code, fund code, source, type, federal
fund ID, sort sequence
Simulation Balance Report (RFRSBAL)
Provides detailed fund balance information
for use during packaging simulation
 6 parameters:
Aid year code, fund code, source, type, federal
fund ID, sort sequence
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Fund reconciliation
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Fund balances stored in the RFRASPC
table
Updated when:
Student’s award for year changes
 Award status changes
 When memo, authorize, or disburse
amount changes
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Fund reconciliation
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(cont.)
Two SQL*PLUS scripts ensure that
summary balances in the RFRASPC
table match the student-by-student
totals from the RPRAWRD table:
RSLFNDBL.SQL & RUPFNDBL.SQL
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Fund reconciliation
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(cont.)
RSLFNDBL.SQL
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Selects and displays fund balances for all
funds for a selected year
Calculated based on the sum of awards on
the RPRAWRD table
Compare to the Fund Budget Inquiry Form
to see if totals match……..
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Fund reconciliation
(cont.)
…. If totals do not match
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RUPFNDBL.SQL
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Can be run to update the balances stored
in the RFRASPC table to match the studentby-student totals stored in RPRAWRD
SCT Banner may stop awarding or
disbursing if a fund is out of balance
RECON ALL button from ROAMGMT will
also run this process
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Questions?……………..