m.e.g calabrese university of minnesota – twin cities

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M.E.G Calabrese University of Minnesota – Twin Cities

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Page 1: M.E.G Calabrese University of Minnesota – Twin Cities

M.E.G CalabreseUniversity of Minnesota – Twin Cities

Page 2: M.E.G Calabrese University of Minnesota – Twin Cities

M.E.G. Calabrese - [email protected]

University of Minnesota – Twin Cities

15 years experience in Direct LendingApproximately $3 BILLION in Direct

Loans disbursed since 95-96. And all reconciled to $0 balances.

Page 3: M.E.G Calabrese University of Minnesota – Twin Cities

It’s a Journey, not a destination…

Page 4: M.E.G Calabrese University of Minnesota – Twin Cities

Do not fear it; it’s not that bad.Work your origination rejects.Work your change rejects.Work your disbursement rejects.

Page 5: M.E.G Calabrese University of Minnesota – Twin Cities

Find a method that works for your school, your system and you.

Keep on top of it.

Page 6: M.E.G Calabrese University of Minnesota – Twin Cities

Get your SAS (School Account Statement) as a fixed length report and retrieve from your SAIG mailbox.

SAS’s are generated the first of the month.

Download the files using the FA inbound process.

Page 7: M.E.G Calabrese University of Minnesota – Twin Cities

Enter your cash draws from G5 into “Manage DL Cash Transactions” page.

Reconcile your cash activity.

Page 8: M.E.G Calabrese University of Minnesota – Twin Cities

Run the “Generate Reconciliation Report” under the DL School Account Summary menu.◦ Identifies loans that exist in your system but not at COD◦Reconcile cash draws Loans or cash transactions that do NOT

match show on report. Work these.

Page 9: M.E.G Calabrese University of Minnesota – Twin Cities

◦Realize that sometimes timing is an issue and that on the next month’s report there won’t be an issue.◦If not timing, disbursement or change record not yet accepted at COD. Fix what is wrong.

Page 10: M.E.G Calabrese University of Minnesota – Twin Cities

Keep a copy of the PDF generated for auditors to show you’re doing monthly reconciliation.

Page 11: M.E.G Calabrese University of Minnesota – Twin Cities

Process at U of M:◦Load SAS into Access database.◦Load PeopleSoft query info into that database.◦Use compare to find loans that do not match up (dollar amounts are off).◦Fix those loans as needed.

Page 12: M.E.G Calabrese University of Minnesota – Twin Cities

Helpful queries:◦Loans on hold (run daily)◦Unbooked loans (run weekly)◦Failed origination (run daily)

Page 13: M.E.G Calabrese University of Minnesota – Twin Cities

M.E.G. CalabreseUniversity of Minnesota

[email protected]

Page 14: M.E.G Calabrese University of Minnesota – Twin Cities