Funds Management

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Funds Management
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Introductions

• Name
• Organization
• Title/Function
• Job Responsibility
• SCT Banner Experience
• Expectations

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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

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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)

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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

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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

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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

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Funds Management Process overview
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Fund Mgmt Menu
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2
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Fund Mgmt Form
Fund type codes
Fund source codes
Fund base info.
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Aid year and fund-specific options
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ROAMGMT
Disbursement Process
RUPFNDBL.SQL
Packaging Process
RSLFNDBL.SQL
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Module definition

• Establish fund type codes
• Define the funds basic characteristics
• Define fund type
• Create Accounts Receivabledetail codes
• Associate appropriate Federal Fund ID as required
  - source codes, etc.

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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

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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

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

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(No Transcript)
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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

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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 memod financial aid in detail
• Will create both default schedules and
  fund-specific schedules

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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

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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

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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

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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

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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

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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

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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

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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

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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
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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 IDs
• Federal Rules Inquiry Form (RFIFEDR)
• Delivered from SCT, displays fund awarding rules
  per federal regulations

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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) gt 0
• For Disbursement
• In determining whether there is enough money
  remaining to pay students, the System adds Memod
  Authorized Paid and compares it to Total
  Allocated. Additional payments can be made if
  Total Allocated - (Memod Authorized Paid) gt
  amount paid

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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

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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

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Remaining columns calculated (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

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Federal Fund ID Inquiry Form (RFIFFID)

• Displays all federal funds and the federal ID for
  that fund
• Delivered by SCT
• Hard-coded

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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

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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

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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

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

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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

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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

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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

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Fund reconciliation

• Fund balances stored in the RFRASPC table
• Updated when
• Students award for year changes
• Award status changes
• When memo, authorize, or disburse amount changes

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Fund reconciliation (cont.)

• Two SQLPLUS scripts ensure that summary balances
  in the RFRASPC table match the student-by-student
  totals from the RPRAWRD table
• RSLFNDBL.SQL RUPFNDBL.SQL

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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..

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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

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Questions?..