1 / 44

Funds Management

Funds Management. Introductions. Name Organization Title/Function Job Responsibility SCT Banner Experience Expectations. Objectives. Performance Objectives Create and maintain Financial Aid funds Create default award and disbursement schedules

lore
Download Presentation

Funds Management

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Funds Management

  2. Introductions • Name • Organization • Title/Function • Job Responsibility • SCT Banner Experience • Expectations SCT Banner Financial Aid 4.0

  3. Objectives • Performance Objectives • 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 SCT Banner Financial Aid 4.0

  4. Funds Management Module overview • Process overview • Funds Management menu • 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) SCT Banner Financial Aid 4.0

  5. Funds Management Module overview (cont.) • 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 SCT Banner Financial Aid 4.0

  6. Funds Management Module overview (cont) • 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 SCT Banner Financial Aid 4.0

  7. Funds Management Module overview (cont) • Creation of funds (part 2) • Fund inquiry forms • 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 SCT Banner Financial Aid 4.0

  8. Funds Management: Process overview Award & Disb. Schedules Award & Disb. Schedules Standard Fund Specific Fund Reconciliation & management Fund Awarding & Disb. rules RORRULE 4 Fund Mgmt Menu 1 2 3 Fund Mgmt Form Fund type codes Fund source codes Fund base info. 5 6 Aid year and fund-specific options 7 ROAMGMT Disbursement Process RUPFNDBL.SQL RSLFNDBL.SQL Packaging Process

  9. Module definition • Establish fund type codes • Define the fund’s basic characteristics • Define fund type • Create Accounts Receivabledetail codes • Associate appropriate Federal Fund ID as required - source codes, etc. SCT Banner Financial Aid 4.0

  10. Module definition (cont.) • Establish fund source codes • Indicate if fund will come from: • Federal • State • Organization • Other • Create as many fund source codes as necessary • Examples: Institutional Endowment Fund Institutional Athletic Department SCT Banner Financial Aid 4.0

  11. Module definition (cont.) • Establish fund base information • Establish a code and description • Associate an A/R detail code with each Financial Aid fund code • 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 SCT Banner Financial Aid 4.0

  12. Module definition (cont.) RFRBASE Establish base information Associate fund source and fund type codes

  13. Module definition (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) • Rule and validation forms SCT Banner Financial Aid 4.0

  14. Module definition (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? • SCT Banner is term driven SCT Banner Financial Aid 4.0

  15. Module definition (cont.) • Create default award and disbursement schedules (cont.) • Set the date funds will be disbursed • Set the memo expiration date • NOTE: The session on fund disbursement will describe “memo’d” financial aid in detail • Will create both default schedules and fund-specific schedules SCT Banner Financial Aid 4.0

  16. Module definition (cont.) • Create fund-specific award and disbursement schedules • 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 SCT Banner Financial Aid 4.0

  17. Funds Management Form (RFRMGMT) • Funds Management Form • Main form for fund options • aid year-specific • 9 windows - 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 SCT Banner Financial Aid 4.0

  18. RFRMGMT (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 SCT Banner Financial Aid 4.0

  19. RFRMGMT (cont.) • Associating funds with other modules • Funds and budget components • Funds and A/R detail codes • Funds and tracking requirements • Funds and message codes SCT Banner Financial Aid 4.0

  20. RFRMGMT (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 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 SCT Banner Financial Aid 4.0

  21. RFRMGMT (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 SCT Banner Financial Aid 4.0

  22. RFRMGMT (cont.) • Funds and message codes • Messages in SCT Banner can be used in a variety of ways • Tracking requirements • Budget components • Student specific messages, and ….. • With fund codes SCT Banner Financial Aid 4.0

  23. RFRMGMT (cont.) • Funds and message codes (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 SCT Banner Financial Aid 4.0

  24. Creation of Funds (part 2) ...From part 1 RFRBASE Packaging and Disbursement Funds Management Form (RFRMGMT) Default Award Sched. RFRDEFA Disbursement & Fund Awarding Rules Form RORRULE Fund Award Sched. RFRASCH

  25. Inquiry forms • Fund Budget Inquiry Form (RFIBUDG) • View status of entire budget for a specific fund per aid year • Federal Fund ID Inquiry Form (RFIFFID) • Delivered from SCT, lists all Federal Fund ID’s • Federal Rules Inquiry Form (RFIFEDR) • Delivered from SCT, displays fund awarding rules per federal regulations SCT Banner Financial Aid 4.0

  26. Fund Budget Inquiry Form(RFIBUDG) • Understanding/reading this form • For Packaging • 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 • 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 SCT Banner Financial Aid 4.0

  27. 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 SCT Banner Financial Aid 4.0

  28. ‘Remaining’ columns calculated • Current Offer: Remaining amount= ($7,000.00) • Available to Offer - (Current Offered + Declined + Canceled) • $ 12,000.00 - ($ 5,000.00 + 0.00 + 0.00) • Current Offer: Remaining % = (58.34 %) • (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) • TOTAL ALLOCATED - CURRENT OFFERED = Amount Remaining • $ 10,000.00 - $ 5,000.00 = $ 5,000.00 SCT Banner Financial Aid 4.0

  29. ‘Remaining’ columnscalculated(cont) • Accepted - Remaining Amount: ($0.00) • Current Offered - Accepted • $ 5,000.00 - $ 5,000.00 • Accepted - Remaining %: ($0.00) • (Current Offered - Accepted) / Current Offered • ($ 5,000.00 - $ 5,000.00) / $ 5,000.00 • Paid - Remaining Amount: ($ 5,000.00) • Accepted - Paid • $ 5,000 - $ 0.00 • Paid - Remaining %:(100%) • (Accepted - Paid) / Accepted • ($ 5,000.00 - $ 0.00) / $ 5,000.00 SCT Banner Financial Aid 4.0

  30. Federal Fund ID Inquiry Form (RFIFFID) • Displays all federal funds and the federal ID for that fund • Delivered by SCT • Hard-coded SCT Banner Financial Aid 4.0

  31. Federal Rules Inquiry Form (RPIFEDR) • Displays rules for all federal funds • Class load • Award minimum and maximum • Extended Loan Option (ELO), HEAL Loan, and Additional Stafford Eligibility • Used in packaging process • Delivered by SCT • Hard-coded SCT Banner Financial Aid 4.0

  32. Manage Funds Form(ROAMGMT) • Use segments from entire Funds Management module • Monitor, update, and create financial aid fund activity • Sort by fund source, type or all funds • From RT • Custom display displays funds by: • Available to offer  Accepted  Paid • Current offer  Declined  Remaining SCT Banner Financial Aid 4.0

  33. Manage Funds Form(ROAMGMT) (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 SCT Banner Financial Aid 4.0

  34. Manage Funds (ROAMGMT) Sort by fund source, type, or all funds Custom display

  35. Financial Aid Selection Rules Form(RORRULE) • Create specific fund awarding and disbursement rules • 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 • A, F, and D pertain to Funds Management SCT Banner Financial Aid 4.0

  36. Processes related to Funds Management • 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 descending) • Fund Budget Report (RFRBUDG) • Prints fund budget allocation information for each fund account for a given aid year SCT Banner Financial Aid 4.0

  37. Processes related to Funds Management (cont.) • Fund Budget Report (RFRBUDG) (cont.) • 6 parameters: Aid year code, fund code, source, type, federal fund ID, sort sequence • Fund Description Report (RFRFUND) • Provides detailed descriptive information on the fund, System rules, and budget allocation assigned each fund for a given aid year SCT Banner Financial Aid 4.0

  38. Processes related to Funds Management (cont.) • Fund Description Report (RFRFUND) (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 SCT Banner Financial Aid 4.0

  39. Fund reconciliation • 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 SCT Banner Financial Aid 4.0

  40. Fund reconciliation (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 SCT Banner Financial Aid 4.0

  41. Fund reconciliation (cont.) • RSLFNDBL.SQL • 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…….. SCT Banner Financial Aid 4.0

  42. Fund reconciliation (cont.) …. If totals do not match • RUPFNDBL.SQL • Can be run to update the balances stored in the RFRASPC table to match the student-by-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 SCT Banner Financial Aid 4.0

  43. Questions?……………..

More Related