session #13 using cod and gaps to reconcile pell grant and … · 2019. 5. 1. · 1 session #13...
TRANSCRIPT
![Page 1: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/1.jpg)
1
Session #13Using COD and GAPS to Reconcile Pell Grant and
Direct Loan Program Funds
Anthony Laing, George Karayianis and Tremayne Cobb
![Page 2: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/2.jpg)
2
Discussion Outline
Funding Overview– Terminology– Basics
• 7-day rule• Cash management regulations• Reconciliation
Pell Reconciliation
![Page 3: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/3.jpg)
3
Discussion Outline (continued)
Direct Loan Reconciliation
Using GAPS to request payments and manage your cash – Requesting payments– Electronic refunds– Drawdown adjustments– Reports
![Page 4: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/4.jpg)
4
FUNDING OVERVIEW
![Page 5: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/5.jpg)
5
Funding Terminology
Funding Terms:COD = Current Funding Level (CFL)GAPS = AuthorizationESOA = Obligation
Origination and Disbursement Records Net Accepted and Posted DisbursementsSubstantiation
![Page 6: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/6.jpg)
6
Funding BasicsFunding based on actual disbursements7 day rule – Records submitted up to 7 days in advance of
disbursement date can trigger change in funding
Cash Management Regulations– 30 day reporting requirement– 3 -Day cash rule– Monthly reconciliation (DL only)
![Page 7: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/7.jpg)
7
Reconciliation Defined
School Funding/Student Data = COD Funding/Student Data = GAPS Cash
Common Goal: School Financial Aid Office/Business Office data matches the Department’s data
![Page 8: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/8.jpg)
8
Pell Grant CFL Process
Initial CFL created in May.
CFL level in GAPS is not increased until initial CFL has been exceeded.
Schools cannot draw cash in GAPS that exceeds their CFL.
![Page 9: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/9.jpg)
9
Pell Funding in COD
CFL level in GAPS is not increased until initial CFL has been exceeded.
Disbursement Release Indicator (DRI)
Schools submit disbursement records to COD that adjusts CFL within 7 days.
![Page 10: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/10.jpg)
10
Pell Processing Example: Initial CFL of $5 Million
CFL adjustment on 1/8/04 of $1M Current CFL of $6M New ESOA of $6M
$6MT1/15/041/08/04School updates DRI of T for disb of $4M
No CFL adjustmentNo new ESOA
$5MF1/15/0410/1/03School submits anticipated disb of $4M
No CFL adjustmentNo new ESOA
$5MT9/12/038/30/03School submits actual disb of $2M
ResultCFLDRIDisbDate
Process Date
Action
![Page 11: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/11.jpg)
11
Pell Processing Example: Initial CFL of $5 Million
CFL adjustment on 2/2/04 of $100K Current CFL of $5.9M New ESOA of $5.9M
$5.9MT1/15/042/2/04School submits adjustment of $100K
CFL adjustment on 10/13/03 of $1M Current CFL of 6M New ESOA of $6M
$6MT10/20/039/30/03School submits anticipated disb of $4M
No CFL adjustmentNo new ESOA
$5MT9/12/038/30/03School submits actual disb of $2M
ResultCFLDRIDisbDate
Process Date
Action
![Page 12: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/12.jpg)
12
Pell Daily CFL Adjustments
School GeneratedSchools submit disbursement increases and decreases throughout the year
System GeneratedNegative pendingPotential Over-award Project (POP)
![Page 13: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/13.jpg)
13
Pell Global CFL Reductions
Reduction for “W” Verification (April)
Reduction to level of accepted and posted disbursement records (March)
Reduction to level of net GAPS drawdowns (end of second year)
![Page 14: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/14.jpg)
14
Pell Funding Reconciliation
Date CFL = Disb Records = Cash(COD) (COD) (GAPS)
$500,000$500,000$500,000
$500,000$750,000$500,0003/05
$500,000$750,000$750,0002/04
$500,000$750,000$1,000,00011/03
![Page 15: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/15.jpg)
15
Pell Reconciliation Tools
COD Year to Date FileCOD Reconciliation FileCOD Pending Disbursement List
COD ESOACOD Web ScreensGAPS Web Reports
![Page 16: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/16.jpg)
16
Electronic Statement of Account (ESOA)
GAPS AWARD NUMBER P063P034444
Previous Pell Grant Obligation $5,000,000.00Current Pell Grant Obligation $6,000,000.00Adjustment (Increase + or Decrease -) $1,000,000.00+
Previous Pell Grant Obligation/Payment $0.00Current Pell Grant Obligation/Payment $0.00Adjustment (Increase + or Decrease -) $0.00
GAPS Drawdowns/Payments $5,000,000.00Date of Last Activity in GAPS 10/06/2003
YTD Total Unduplicated Recipients 1,555YTD Pell Accepted and Posted Disbursement Amount $6,000,000.00YTD Administrative Cost Allowance $7,500
As of Document ID/Batch ID 200312345619990101123000Payments Apply only to “:Obligate/Pay” Accounts
![Page 17: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/17.jpg)
17
School Funding Info Web Screen (Pell)
MOELLER UNIVERSITYFunding Information
Program Pell Grant Award Year 03-04
Entity ID 12333213Initial CFL $2,000,000Current CFL $6,000,000Previous CFL $5,000,000CFL Adjustment $1,000,000Available Balance $ 500,000Net Accepted & Posted Disbursements $6,000,000 Net Drawdowns $5,000,000Total Unduplicated Recipients 1500
![Page 18: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/18.jpg)
18
Ongoing Pell Reconciliation
Financial Aid Office and Business Office reconcile as of September 30
Post deadline adjustments (after 9/30 – administrative relief, audits, decreases)
![Page 19: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/19.jpg)
19
Negative Available Balances -- example
($5,000)$4,995,000School submits $5,000 negative adjustment
$0$5,000,000School submits $5,000,000 in disbursement records
Available Balance in GAPS
CFLAction
![Page 20: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/20.jpg)
20
How to Resolve Negative Balances
Refund the cash
Adjust the drawdown
Increase the CFL
![Page 21: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/21.jpg)
21
Direct Loan reconciliation versus end of year closeout
Monthly Reconciliation – Process of comparing your internal
records with the Department’s to identify and resolve outstanding discrepancies.
Closeout– Net Accepted and Posted disbursements
=GAPS net cash– Ending Cash Balance (ECB) = 0
![Page 22: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/22.jpg)
22
When are you closed out for the award year?
Net cash Net disbs
When you have finished processing, your loan records match the Departments, and your net disbursements equal net cash received (zero ECB).
![Page 23: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/23.jpg)
23
Your Ending Cash Balance Equation
--BeginningCash
Balance
Refunds of
Cash+ Disburse-
mentsCash
Receipts
EndingCash
Balance=
DownwardAdjust-ments
+- UpwardAdjust-ments
![Page 24: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/24.jpg)
24
COD and GAPS Tools to help reconcile Direct Loans
COD Funding Web screens
Reports (COD)
GAPS
![Page 25: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/25.jpg)
25
COD Webscreens
Funding Info
Cash Activity
Summary Financial Info
![Page 26: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/26.jpg)
26
School Funding Info Web Screen
EDUCATION UNIVERSITYFunding Info
Program Direct Loan Award Year 04-05
Entity ID 12333213Initial CFL $56,000Current CFL $200,000Available Balance $15,000Cash > Net Accepted & Posted Disbursements $0Net Accepted & Posted Disbursements $185,000Net Drawdowns $185,000Disbursement To Drawdown Ratio 1.0000
![Page 27: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/27.jpg)
27
Cash Activity ScreenHIYA UNIVERSITYProgram Direct Loan Award Year 04-05
Net Draws $30,000Cash > Accepted & Posted Disbursements & older than 30 days $0
TotalsDate of Transaction 10/23/03Time 1:35PMDrawdowns $30,000 $2,000Drawdown adjustments $0Refunds $1,000Returns $0Days for On-time reportingPayment Control Number 2003102321221Accepted & Posted Disbursements Applied $20,000 $0 Cash > Accepted & Posted Disbursements $10,000Source System GAPS
![Page 28: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/28.jpg)
28
School Summary Financial Info Screen
RAILROAD COLLEGE
Program Direct Loan Award Year 04-05
Entity ID 22346667Beginning Cash Balance $0Cash Receipts $100,000Disbursement Amount $80,000Disbursement Adjustments Amount -$5,000Refunds of Cash $15,000Ending Cash Balance $10,000
![Page 29: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/29.jpg)
29
Direct Loan School Account Statement (SAS) Report
Report run from COD – Copied from main database– Loan/Disbursement Information
• Summary • Detail
– Cash Information
![Page 30: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/30.jpg)
30
SAS – Year to date Cash Summary
![Page 31: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/31.jpg)
31
SAS – Monthly Cash Summary
![Page 32: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/32.jpg)
32
SAS – Loan Detail
![Page 33: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/33.jpg)
33
The Department of Education’s Grant Administration and Payment System (GAPS)
![Page 34: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/34.jpg)
34
GAPS link from COD web
![Page 35: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/35.jpg)
35
E-Payments Website (http://e-grants.ed.gov)
![Page 36: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/36.jpg)
36
Logon to GAPS
![Page 37: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/37.jpg)
37
Drawdown Requests
Year and program specificRequest only what you can disburse within 3 business daysACH requests - next dayFedwire - same day
![Page 38: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/38.jpg)
38
Main Menu
Hair Care and Nails 13 Ventura Blvd.
Hollywood, CA 31221
Please select one of the following options:
Payment RequestsReportsRefunds
Password Maintenance
User’s GuideSelect New Payee
HelpExit
Select Payment Requests from Main Menu
Payment Requests
![Page 39: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/39.jpg)
39
Select Create Payment from Payment Requests Menu
Adjust Direct Loan Drawdown Amounts
View Direct Loan Payment Requests
Modify Direct Loan Payment Requests
Create Direct Loan Payment Requests
View Authorization History
Adjust Drawdown Amounts
View Payment Requests
Modify Payment Requests
Create Payment Requests
![Page 40: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/40.jpg)
40
Enter Payment Amount
Payee DUNS 055465543
P007A059999
P063P059999
P063P049999
P063P039999
![Page 41: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/41.jpg)
41
Electronic Refunds
Posts to GAPS within 2 business daysSchool control over processSchool directs from which bank account the money will be refunded.Multiple refunds on one screen and at one time.Electronic processing reduces human error and delays.
![Page 42: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/42.jpg)
42
Select Refunds from Main Menu
Main Menu
Hair Care and Nails 13 Ventura Blvd.
Hollywood, CA 31221
Please select one of the following options:
Payment RequestsReportsRefunds
Password Maintenance
User’s GuideSelect New Payee
HelpExit
Refunds
![Page 43: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/43.jpg)
43
Check “refunds to open awards” and “initiate refunds”
Refunds MenuHair Care and Nails
13 Ventura Blvd.Hollywood, CA 31221
Please select one of the following options:
Refunds to Open AwardsPerkinsInterest
Refunds to Closed Awards
X
Initiate Refund
Bank Account Maintenance
Refunds Report
Initiate Refunds
![Page 44: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/44.jpg)
44
Awards and net drawswill be displayed
![Page 45: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/45.jpg)
45
Enter the amount(s) tobe refunded
![Page 46: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/46.jpg)
46
Refund Confirmation
![Page 47: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/47.jpg)
47
Drawdown Adjustments
Can’t move more than has been drawn.Net adjustment must equal zero.Do not use adjustments as a substitute for returning excess cash.Do not use adjustments to close out a year or bring your school’s cash balance to zero.
![Page 48: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/48.jpg)
48
Select Payment Requests from Main Menu
Main Menu
Hair Care and Nails 13 Ventura Blvd.
Hollywood, CA 31221
Please select one of the following options:
Payment RequestsReportsRefunds
Password Maintenance
User’s GuideSelect New Payee
HelpExit
Payment Requests
![Page 49: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/49.jpg)
49
Select for either Direct Loan or Pell adjustments
PellDirect Loan
![Page 50: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/50.jpg)
50
Adjustments between years and/or campuses
![Page 51: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/51.jpg)
51
Enter the amounts to be adjusted and click “OK”
![Page 52: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/52.jpg)
52
Adjustment Confirmation
![Page 53: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/53.jpg)
53
GAPS Reports GAPS Reports– Activity Report
• Cumulative Activity by award• Detail Activity by day
– Refund Report• detailed list of refunds including
confirmation numbers
![Page 54: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/54.jpg)
54
From Main Menu select “Reports”
Main Menu
Hair Care and Nails 13 Ventura Blvd.
Hollywood, CA 31221
Please select one of the following options:
Payment RequestsReportsReportsRefunds
Password Maintenance
User’s GuideSelect New Payee
HelpExit
![Page 55: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/55.jpg)
55
Select “Activity Report”
![Page 56: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/56.jpg)
56
Activity Report Selection Screen
![Page 57: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/57.jpg)
57
Activity Report -Cumulative Summary
443221234
![Page 58: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/58.jpg)
58
Activity Report -Record Detail
![Page 59: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/59.jpg)
59
Select Refunds Report from Reports Menu
![Page 60: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/60.jpg)
60
Refund Report
![Page 61: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/61.jpg)
61
GAPS Access
Full AccessView Access– Limit 5 user IDs of each access per school
Download form off e-payment webFax completed form to GAPS – (202-205-0729)
![Page 62: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/62.jpg)
62
GAPS Helpdesk
1-888-336-8930Helpdesk hours of operation are 8 a.m.
to 6 p.m. Monday through Friday, EST.
![Page 63: Session #13 Using COD and GAPS to Reconcile Pell Grant and … · 2019. 5. 1. · 1 Session #13 Using COD and GAPS to Reconcile Pell Grant and Direct Loan Program Funds Anthony Laing,](https://reader036.vdocument.in/reader036/viewer/2022071513/61333556dfd10f4dd73af0a3/html5/thumbnails/63.jpg)
63