AwardYear: 1998-1999 EnterChapterNo: 4 EnterChapterTitle: Federal Pell Grant Program SectionNumber: SectionTitle: Appendix D: Reconciling Student Payment Data PageNumbers: 113-116 Example Batch dated 12/01/98 Total Amount Paid to Date (Item 6) 8,238 Total Remaining to be Paid (Item 7) 6,497 Total Payment Amount (Item 6 + Item 7) 14,735 Actual payments in institutional records 12,414 STEP 1. From institutional records, determine the payments not yet made. EXAMPLE: $2,700 remained to be paid as of the date the school is reconciling the data. STEP 2. Deduct result of Step 1 from the Total Payment Amount on the SPS. EXAMPLE: $14,735 - $2,700 = $12,035. STEP 3. Compare result in Step 2 to the payment amounts in institutional records. EXAMPLE: Compare $12,414 to $12,035; the difference is $379. STEP 4. Account for any discrepancy in the following categories: - Payments in institutional records for recipients the school has not yet reported; - Payments in institutional records for recipients the school reported but the Department rejected; - Payments in institutional records which the Department disallowed; - Payments included in the school's student payment data but missing from institutional records; and - Recoveries the school has restored to its Pell account but has not reported to the Department as changes to its student payment data. Please keep in mind that - The Pell payments according to institutional records should never exceed the school's Pell authorization--the school cannot pay more Pell funds than the Department has authorized. - The school's records of actual payments should equal or exceed the total Amount Paid to Date listed on the SPS, unless the school has already recovered some of those payments. - Actual payments should not exceed the Total Payment Amount listed on the SPS. If this occurs, the school either needs to report additional recipients and payment amount adjustments or correct the institutional records and payments. - The actual payments made by the school should equal the Total Payment Amount (Item 6 + Item 7) after the school makes all payments and reports all payment adjustments to the Department. If the school identifies major discrepancies, it needs to correct the reporting errors so that the next SPS will reflect more complete and reconcilable data. |
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