session 31
DESCRIPTION
Session 31. Grant Administration and Payment System (GAPS) Update. Presenters. Anthony Laing - Acting Director Pell Operations George Karayianis - Funds Team Lead Direct Loan Operations Ruth Ann Harrold - GAPS Representative. Session Outline. Pell Funding Terms Obligations Cash - PowerPoint PPT PresentationTRANSCRIPT
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Session 21- 2
Session 31
Grant Administration and Payment System (GAPS)
Update
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Session 21- 3
Presenters
Anthony Laing - Acting Director Pell Operations
George Karayianis - Funds Team Lead Direct Loan Operations
Ruth Ann Harrold - GAPS Representative
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Session 21- 4
Session Outline Pell Funding Terms
– Obligations– Cash– Unprocessed Deobligations
Direct Loan Funding– Cash Control Amount– Drawdowns– Option 2 and Standard Origination Schools
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Session 21- 5
Session Outline (continued)
Cash Management Requirements– Excess CashGAPS Functionality/New Enhancements– Electronic Refunds– Drawdown Adjustments– Reports– View Access– Payment Request File Upload
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Session 21- 6
Pell Funding Terms
Pell Grants
– Obligation
– Cash
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Session 21- 7
Current Pell Grant Obligation Process
Initial Obligation in May Schools draw cash in GAPS not to exceed
their obligation level Schools submit disbursement records to
RFMS that adjust obligation levels Schools can request Year-to-date and/or
Reconciliation Reports at any time.
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Session 21- 8
Initial Obligation
Created in May
Schools submit disbursement records
Obligation level in GAPS is not increased until initial obligation has been exceeded
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Session 21- 9
School Example
Initial Obligation = $5 million
Total Accepted Disbursements = $2 million
Difference = $3 million
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Session 21-10
Electronic Statement of Account
GAPS AWARD NUMBER P063P014444
A. Previous Pell Grant Obligation $5,000,000.00Current Pell Grant Obligation $6,000,000.00Adjustment (Increase + or Decrease -) $1,000,000.00+
B. Previous Pell Grant Obligation/Payment $0.00
Current Pell Grant Obligation/Payment $0.00Adjustment (Increase + or Decrease -) $0.00
GAPS Drawdowns/Payments $5,000,000.00Date of Last Activity in GAPS 02/13/2002
YTD Total Unduplicated Recipients 3,333YTD Pell Accepted Disbursement Amount $6,000,000.00YTD GAPS Posted Disbursement Amount $6,000,000.00YTD Administrative Cost Allowance $16,665.00
As of Batch ID 200212345619990101123000
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Session 21-11
Obligation Adjustments School Generated
– Schools submit increases and decreases throughout the year
System Generated– Administrative Cost Allowance (ACA) – Negative pending– W Verification
Financial Aid Office and Business Office reconcile as of September 30
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Session 21-12
Pell Grant Funds Control
Initial Obligation (May) Reduction to level of accepted
disbursement records (February) Post deadline adjustments (after 9/30 -
administrative relief, audits, decreases) Reduction to level of net GAPS drawdowns
(end of second year)
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Session 21-13
Unprocessed Deobligations
A new column on the GAPS website
Deobligations in excess of available balance
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Session 21-14
Unprocessed Deobligation Report
Award Balances Report
Payee DUNS/SSN: 555555555
Payee Name: Tony’s Beauty Schools
Payee Address: SMITH, INC, CHICAGO, IL 60603
AWARD BALANCES TABLE(As of February 13, 2002)
No Award Recipient Authorization Unprocessed Net Draws Available Balance Ref. Deobligations
1 P063P011222 01-02 Pell $5,000,000.00 ($5,000.00) ($5,000,000.00) ($5,000.00)
2 P007A006050 00-01 SEOG $26,693.00 $0.00 ($26,693.00) $0.00
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Session 21-15
School Example of Unprocessed Deobligation
School obligation = $5 million Net drawdown in GAPS = $5 million Available balance in GAPS = $0 School submits negative disbursement of
$5,000 Unprocessed deobligation of $5,000
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Session 21-16
Resolve Unprocessed Deobligation
Increase the obligation
Refund the cash
Adjust the drawdown
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Session 21-17
Direct Loan Funding Terms
Direct Loans
– Cash Control Amount
– Drawdowns
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Session 21-18
Direct Loan Funding Process
Initial CCA Schools draw and/or receive cash not to
exceed their CCA level Timely reporting of disbursements in the
LOS increases CCA level Monthly reconciliation reports sent to
school
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Session 21-19
Direct Loan School Funding Example:
School initial CCA = $5 million School draws/receives = $3 million in
drawdowns Available balance = $ 2 million
– The CCA will be increased as the school submits disbursement records timely.
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Session 21-20
Funding for Direct Loan Schools
Option 2 Schools:– Go directly into GAPS and request the
money they need to disburse to students within the next 3 business days.
Standard Origination Schools:– Have cash deposited in their bank account
based on disbursement information submitted and accepted by the Loan Origination System.
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Session 21-21
Cash Management Requirements
30-Day Reporting Requirement
-685.301(d) Direct Loan
-685.83 Pell (and annual deadline notice) 3-Day Cash Rule
-668.162(b) Monthly Reconciliation
-685.102(b) Direct Loan
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Session 21-22
Excess Cash
Funds not disbursed within 3 business days must be returned as Excess Cash to the Department of Education.
Encourage schools to return funds electronically via the GAPS web.
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Session 21-23
Advantages of Electronic Refunds
Posts to GAPS within 2 business days School control over process School 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.
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Session 21-24
GAPS Award Numbers CFDA prefix (ex: P) CFDA suffix (ex: 268, 063) Sub program identifier (ex: K, P) Year identifier (ex: 01) Institution identifier (ex: 2244, 5543) Ex: DL = P268K012244 Pell = P063P015543 Campus Based = P007A992231
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Session 21-25
Access E-Payments Website (http://e-payments.ed.gov/gapsweb)
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Session 21-26
Logon to GAPS
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Session 21-27
Select Refunds from Main Menu
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Session 21-28
Select “refunds for open awards” and click “initiate refunds”
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Session 21-29
Select “continue”
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Session 21-30
Awards and net drawswill be displayed
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Session 21-31
Enter the amount(s) to berefunded and click “continue”
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Session 21-32
Click “verify selected awards”
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Session 21-33
Refund Confirmation
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Session 21-34
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.
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Session 21-35
Logon to GAPS
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Session 21-36
Select “Payment Requests” from Main Menu
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Session 21-37
Select for either Direct Loan, Pell, or Campus Based adjustments
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Session 21-38
Open Awards
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Session 21-39
Money can be adjusted fromone campus to another
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Session 21-40
Enter the amounts to be adjusted and click “Okay”
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Session 21-41
Click “yes” if you want GAPS to process the request
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Session 21-42
Adjustment Confirmation
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Session 21-43
GAPS Reports
GAPS Reports
– Activity Report
• Cumulative Activity by award
• Detail Activity by day
– Refund Report
• detailed list of refunds including confirmation numbers
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Session 21-44
From Main Menu select “Reports”
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Session 21-45
Select “Activity Report”
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Session 21-46
Activity Report Selection Screen
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Session 21-47
Activity Report - Cumulative Summary
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Session 21-48
Activity Report - Record Detail
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Session 21-49
Refunds Report
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Session 21-50
Refund Report
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Session 21-51
View Access
Limit 5 user ids per school Download form off e-payment web Fax completed form to GAPS
– (202-401-0006) Additional questions, call GAPS Helpdesk
– 1-888-336-8930
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Session 21-52
GAPS Helpdesk
1-888-336-8930 Helpdesk hours of operation are 8 a.m.
to 6 p.m. Monday through Friday, ET.
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Session 21-53
Questions??