Pat Stephenson

U.S. Department

of Education

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FISAP:Back to the

Basics

What is the Fiscal Operations Report & Application to

Participate (FISAP)?•It’s the school’s operations report on how Campus-Based Program funds were spent for the reporting year that has just ended

•It’s also the school’s application to participate in the Campus-Based Programs and request funds for the upcoming year

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When is the FISAP Due?• By October 1 of each year

– If October 1 falls on a weekend, the due date would be the Friday before. For example, the 2011 date was September 30

– Revisions to the initial FISAP submission may be made through December 15

– December 16 the FISAP form is locked

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Purpose of Tentative Awards

• To provide a preview of each school’s award

• To allow schools to identify possible errors in reporting and correct them before Final Awards are calculated

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FISAP on IFAP

• The updated link will be provided during the session

• Form, Instructions & Technical Reference published by August 1

• Tentative Awards made by February 1

• Final Awards made by April 1

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FISAP• Part I - Identifying Information, Certification,

and Warning Instructions

• Part II - Application to Participate, Request for Funds, and the Eligible Applicant Grid

• Part III - Federal Perkins Loan Program Report (cumulative and award year data)

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FISAP

• Part IV - FSEOG Program Report

• Part V - FWS Program Report

• Part VI - Program Summary

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FISAP Part II, Section A

• Request for funds for the award year

– Schools should request an amount they can reasonably expend to ensure adequate funding is available to students

– Base Guarantee amount

– Fair Share amount

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FISAP Part II, Section A

• A school will never receive less than their Base Guarantee unless their request for funds is less than the Base Guarantee amount

• If there are available funds, a school will receive their fair share as calculated on the Tentative/Final funding worksheets if their request for funds is at least that amount

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FISAP Part II, Section A• Request for Perkins Loan Level of Expenditure

(LOE)

– Schools with excess Liquid Capital (Cash on Hand) should request a LOE

– Schools requesting a Perkins LOE must actively advance funds to students

– Schools with an approved LOE must actively advance funds to students

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Part II, Section B

• Federal Perkins Loan Liquidation Request

– Schools wishing to liquidate their Perkins Loan Portfolio must check “Yes”

– Schools must also notify the Perkins Liquidation staff with their intent to liquidate by e-mailing PerkinsLiquid@ed.gov

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FISAP Part II, Section C

• Request for the Underuse of Funds Waiver

– Schools with unexpended Campus-Based funds exceeding 10% of their annual allocation should request a waiver to avoid a penalty in the upcoming year

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FISAP Part II, Section D

• Information on Enrollment

– Do not include students only enrolled in classes for audit

– Do not include students not enrolled in an eligible program of study

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FISAP Part II, Section E• Assessments and Expenditures

• Coordinate with Business & Registration Offices to ensure reported amounts are correct

– Total Tuition and Fees

– Total Pell Grant expenditures

– Total State grants

– Note: ACG/SMART not reported on 13/14 FISAP

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FISAP, Part II, Section F• Eligible Applicant Grid

– Pull data from your financial aid system ensuring you are only including eligible applicants

– Verify data to ensure you are pulling the correct CPS transaction number and accurate taxable and nontaxable income

– Make necessary adjustments

– Report information15

FISAP Part III, Section A• Cumulative Perkins Loan Information

– Report Cash on Hand as of 6/30

– Update Cash on Hand as of 10/30

– Add annual info to the cumulative data

– Report the discovery of Perkins Loan identity theft on line 26 Loan Principal Adjustments and on line 55 Other Costs or Losses

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FISAP Part III, Section A

• Cumulative Perkins Loan information

– The debit and credit columns must balance

– Use line 56 Balancing Adjustments (debits) and line 57 Balancing Adjustments (credits) if needed to balance

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FISAP Part III, Section B• Annual Fund Activity during the Award Year

– Report all activity for the reporting year

• Funds transferred from FWS to Perkins

• Funds transferred from Perkins to FWS and SEOG

• New Loans

• Collections

• Collections from Defaulted Borrowers18

FISAP Part III, Section C• Cumulative Repayment Info as of June 30

– Fully retired loans

– Purchased loans

– Assigned and accepted by ED due to default, liquidation, or Total/Permanent Disability

– Borrowers not yet in repayment

– Borrowers on schedule in repayment

– Defaulted borrowers

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FISAP Part III, Sections D & E

• Perkins Cohort Default Rate (CDR)

– School calculates & reports CDR

– Schools with >50% CDR for three consecutive years will be notified by ED to appeal and/or liquidate their portfolio

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FISAP Part IV, Section A• SEOG Final Adjusted Authorization

– Must agree with Final Funding Worksheet for the award year

– Should be reduced if school returned funds through the reallocation process

– Should be increased if school received supplemental funding

– Should not be adjusted for any other reason (such as a deobligation of funds in G5)

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FISAP Part IV, Section B• Amount of SEOG funds Available

– Report the transfer of funds between Campus-Based Programs

• FWS and/or Perkins to SEOG• SEOG to FWS

– Report Campus-Based funds carried forward/backward

– Calculate the total amount of SEOG funds available for the reporting year

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FISAP Part IV, Section C

• SEOG funds Available to Recipients

– Report total funds to recipients

– Compute the non-federal share

• Cash outlay

• Other resources

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FISAP Part IV, Section D

• Total Funds Spent in SEOG

– Federal share of funds provided to recipients

– Amount of Administrative Cost Allowance claimed

– Total federal funds spent

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FISAP Part IV, Section E• Use of SEOG Authorization

– Report total expended amount

– Report total unexpended amount

• Any amount reported as unexpended will be deobligated from G5 around the end of April

– The school is responsible to repay the amount deobligated if they drew the funds down from G5 during the year

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Award Authorized Amount and G5

• Confirm the amounts authorized for each Campus-Based program matches the amount authorized on the G5 Award History Report

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FISAP Part V, Section A• FWS Final Adjusted Authorization

– Must agree with Final Funding Worksheet for the award year

– Should be reduced if school returned funds through the reallocation process

– Should be increased if school received supplemental funding

– Should not be adjusted for any other reason (such as a deobligation of funds in G5)

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FISAP Part V, Section B• Amount of FWS funds Available

– Report the transfer of funds between Campus-Based Programs

• SEOG to FWS• FWS to SEOG/Perkins

– Report Campus-Based funds carried forward/backward

– Calculate the total amount of FWS funds available for the reporting year

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FISAP Part V, Section C• Total Compensation for FWS

– Report total earned compensation• On-campus earned compensation• Off-campus earned compensation in public or private

non-profit organizations• Off-campus earned for agencies unable to pay the non-

federal share and had a federal share up to 90%• Off-campus for private for-profit organizations

– Report total institutional share of earned compensation

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SEOG and FWS in G5

• Please note that the reported total amount of SEOG and FWS expended should equal the total draw down amount for each program in the G5 Award History Report

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FISAP Part V, Section D• Federal share of earned compensation

• Federal share up to 75%, federal share up to 100% for Title III/V waiver, federal share up to 90% for agencies unable to pay their regular non-federal share, federal share up to 50% for off-campus private for-profit organizations

• ACA

• Federal share of Job Location and Development (JLD)

• Total federal share spent

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FISAP Part V, Section E• Use of FWS Authorization

– Report Expended amount of FWS

– Report Unexpended amount of FWS

• Any amount reported as unexpended will be de-obligated from G5 around the end of April

– The school is responsible to repay the amount deobligated if they drew the funds down from G5 during the year

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FISAP Part V, Sections F - I

• Section F – JLD Expenditures

• Section G – Community Service Expenditures

• Section H – Reading Tutor Expenditures

• Section I – Mathematics Tutor Expenditures

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FISAP Part V – Sections J - K

• Section J – Civic Education and Participation Activities Expenditures

• Section K – FWS Disaster Affected Student Expenditures

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Part VI, Section A• Distribution of Program Recipients and

Expenditures by Type of Student– Independent/Dependent– Income Level– Graduate/Professional– Less than Full Time– Auto Zero EFC

• Unduplicated Student Recipient Counts in each Category

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Part VI, Section B

• Calculates Administrative Cost Allowance for each Campus-Based Program

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Transfer of Campus-Based Program Funds

• The transfer of Campus-Based Program funds should only be noted on the FISAP

• Beginning mid-June 2012, G5 will disable the drawdown adjustment functionality for Campus-Based awards

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Transfer of Campus-Based Program Funds

• After G5 disables this functionality, schools will no longer be able to transfer Campus-Based funds in G5 between programs or years

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FISAP Reporting and G5

• Reminder: The Campus-Based information reported in Part IV and V of the FISAP must match how the funds were drawn down in G5 for each program

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FISAP Corrections Due by December 15

• Initial submission due by October 1 (or the Friday before if October 1 falls on the weekend)

• Schools have until December 15 to make revisions to FISAP data after the initial submission

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FISAP Corrections Due by December 15

• After December 15, revisions must be requested through Campus-Based Programs staff via the FISAP change request process within eCB

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Failure to Make Required FISAP Revisions

• Impacts tentative and final awards; there are limited funds appropriated annually

• School may receive less than what they are eligible for or be over-awarded and required to repay after an audit

– Base guarantee affected if request is less

– Fair share may be affected

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Failure to Make Required FISAP Revisions (cont.)

• Annual funding amount may be reduced in G5 by ED

• Amount expended on FISAP is official statement

• Funds in G5 will be adjusted to match and a negative balance may result

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Reinstatement of Campus-Based Funds in G5

• No reinstatement of funds for reporting errors

• FISAP revision does not initiate reinstatement of Campus Based funds

• Must request reinstatement of funds from Campus Based Program Manager

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Accurate FISAP Data• Schools are requested to make revisions

after the December 15 deadline to ensure FISAP historical data is accurate

– A-133 audit findings

– Award cancellations

– Ineligible students

– Errors in reporting

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FISAP Change Requests after December 15

• FISAP revisions are made in the “working copy” of the FISAP by the school

• Cannot submit the revisions until Campus- Based staff approves and “unlocks” the FISAP for submission

• School has five days after the FISAP change request approval to submit the revisions

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FISAP Change Requests after December 15

• Campus-Based staff work with the school to ensure revisions are made correctly and that the school understands the possible impact of the revisions made

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FISAP Change Requests after December 15

• Examples of changes not permitted:

– Increase/decrease in requested SEOG, FWS, and Perkins LOE

– Increase/addition of administrative cost allowance for any Campus-Based Program (many schools attempt to increase this amount to eliminate reported unexpended funds after G5 has been reduced)

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FISAP Change Requests after December 15

• Items that have the most impact on funding levels for the upcoming year:

– Number of enrolled students

– Total Tuition and fees

– Total grant funding expended

– Eligible applicant grid

– All Part II information

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FISAP Change Requests after December 15

• Items that have the most impact on funding for the reporting year (prior year expenditures):

– Part IV - SEOG expended/unexpended funds

– Part V - FWS expended/unexpended funds

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FISAP Changes in Part III, Perkins Loan Data

• Currently this program is not funded by ED

• Changes made to Part III will not impact the school’s revolving fund

• Increases in Administrative Cost Allowance are not permitted after December 15

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Common Errors in FISAP Filing

• Schools do not coordinate with other offices on campus in collecting and reconciling program information

• Schools do not validate FISAP information provided by third party servicers

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Common Errors in FISAP Filing• Mergers /Splits

– Schools combine or separate FISAP reporting data too soon

– Schools do not request funding for all involved schools

– Schools need to work with school compliance staff, FSA’s internal controls, and campus-based staff to ensure proper reporting

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Examples of Offices Involved in Collection/Reporting of FISAP Data

• Financial Aid Office - awards/disbursements• Business Office - disbursements/G5

drawdowns

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Examples of Offices Involved in Collection/Reporting of FISAP Data

• Registration – enrollment/program of study

• Admissions – guest student/regular student

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Contact Information

• We appreciate your feedback and comments

• Perkins Loan liquidation team e-mail – PerkinsLiquid@ed.gov – for schools in the Perkins Loan Liquidation process or have questions about the process

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Contact Information

• Phone: eCampus-Based Call Center 877-801-7168 for all other questions regarding Campus-Based Programs

• Email: CBFOB@ed.gov

• Pat Stephenson – Manager, Campus-Based Programs, 202-377-3782– Pat.Stephenson@ed.gov

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Questions?

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