Posted Date: April 30, 2009

Author: William Leith, Service Director, Program Management, Federal Student Aid

Subject: 2007-2008 Campus-Based Awards Closeout

We have completed the closeout of all 2007-2008 awards for the Campus-Based programs based on the official reporting in a school's Fiscal Operations Report section of the Fiscal Operations Report for 2007-2008 and Application to Participate for 2009-2010 (FISAP).

The questions and answers that follow explain the 2007-2008 awards closeout for the Campus-Based programs and provide important information regarding the notification process.

QUESTIONS AND ANSWERS

Q1: What does the 2007-2008 awards closeout mean for the Campus-Based programs?

A1: The 2007-2008 awards closeout for the Campus-Based programs involves reconciling a school's authorized award for each program with the amount reported as expended for that program on the school's 2007-2008 Fiscal Operations Report. For example, if a school's Federal Work-Study (FWS) authorized amount was $50,000 and the school reported an expended amount of $40,000, the school's award will be closed out at the expended amount of $40,000. If the school has a different amount in G5, we have assumed that the correct amount of expenditures are the amounts certified by the Chief Executive Officer in Part I, Section B of the FISAP.

Q2: What if a school's 2007-2008 FISAP expenditure report was incorrect and needs to be adjusted so that funds can be reinstated?

A2: The deadline for making edits to the FISAP was December 15, 2008. However, with sufficient justification and our advance approval, a school may correct its 2007-2008 Fiscal Operations Report via the eCampus-Based (eCB Web site). Before submitting the FISAP expenditure adjustment via the eCB Web site, the school must immediately contact the Campus-Based Call Center and provide a justification for the need to make an adjustment.

Q3: How will the closeout amount appear in G5 and on reports generated out of G5?

A3: The closeout amount will appear in G5 as the authorized amount for the 2007-2008 Award Year. If a school's fiscal office drew down more money than was reported as expended in its 2007-2008 Fiscal Operations Report, a negative amount will appear in the "available balance" line in G5 and on reports generated out of G5; the school must resolve this amount per the guidance in Q&A #4. If a school's fiscal office drew down less money than was reported as expended in its 2007-2008 Fiscal Operations Report, the difference will be deobligated and unavailable for drawdown.

Q4: What action must a school take if there is a negative balance in G5?

A4: If a school has a negative balance in G5, the school's fiscal office needs to refund the amount of the negative balance. (If the school's fiscal office has made the refund but posted it to the wrong account, that office needs to perform a drawdown adjustment in G5.) For assistance in making refunds, contact the G5 Hotline at 888/336-8930. Customer Service Representatives are available Monday through Friday from 8:00 A.M. to 6:00 P.M. (ET).

Q5: How were a school's closeout amounts determined?

A5: Closeout amounts were determined as follows:

For the Federal Supplemental Educational Opportunity Grant (FSEOG) Program, the amount was determined by subtracting the expended 2007-2008 FSEOG authorization amount (Part IV, Line 16 of a school's FISAP) from the school's current 2007-2008 FSEOG award authorization amount. The school's final 2007-2008 FSEOG award amount is now equal to the expended FSEOG authorization amount (Part IV, Line 16 of the school's FISAP).

For the FWS Program, the amount was determined by subtracting the expended 2007-2008 FWS authorization amount (Part V, Line 17 of a school's FISAP) from the school's current 2007-2008 FWS award authorization amount. The final 2007-2008 FWS award amount is now equal to the expended FWS authorization amount (Part V, Line 17 of the school's FISAP).

Note: If a school did not submit a FISAP reporting 2007-2008 expenditures, the school's authorizations were reduced to a zero dollar amount ($0.00).

Q6: How will a school be notified of award adjustments?

A6: If a decrease was applied to any 2007-2008 Campus-Based awards through this closeout process, we will notify the school by e-mail. In this e-mail, we will inform the school that the award adjustments are reflected in the Statement of Account posted on the eCB Web site. We will send this e-mail to the school's Financial Aid Administrator, as provided in the school's most recently submitted FISAP or as updated via the "Contact Info" page on the eCB Web site.

To access the Statement of Account following receipt of this e-mail, log in to the eCB Web site, select the "Self-Service" link from the top navigation bar, and scroll to the "Campus-Based Notifications for All Available Award Years" section. Then, scroll to the "Statement of Account" bullet and select the "2007-2008" link next to it.

Contact Information

For additional information about or assistance related to the 2007-2008 awards closeout for the Campus-Based programs, contact the Campus-Based Call Center at 877/801-7168. Customer service representatives are available Monday through Friday from 8:00 A.M. until 8:00 P.M. (ET). You may also e-mail CBFOB@ed.gov.