It’s almost FISAP Time – (has it been a year already)? Yes, the annual ritual is upon us and it’s time to report your expenditures from Campus Based funding for 2016-2017 and request Campus Based Funds like FSEOG and FWS for the 2018-2019. The deadline this year is a little earlier due to the weekend so mark your calendars for this year’s FISAP deadline September 29, 2017.
John Kane, Federal Student Aid’s Acting Service Director recently published these tips and reminders to help you get through FISAP season.
- Award year and date references have been updated and FISAP instructions have been clarified, as outlined in the April 25, 2017 Electronic Announcement.
- Only disbursements made from 2016-2017 funds should be reported in Part II, Section E, Field 23. If crossover payments are made from 2017-2018 funds, the disbursements should be reported in next year’s FISAP (Fiscal Operations Report for 2017-2018 and Application to Participate for 2019-2020).
- It is important that all affected campus offices coordinate and reconcile the information reported in the school’s FISAP.
- If funds are drawn from G5 that exceed the amounts reported on the FISAP, a negative balance will result and the school will need to return funds to G5.
- Example: If a school’s Federal Work-Study (FWS) authorized amount was $50,000 and the school reported an expended amount of $40,000 on its FISAP, the school’s award will be closed out at the expended amount of $40,000. If more than $40,000 has been drawn in G5, a negative balance for the amount over $40,000 will result and that amount must be returned.
- Appropriate Administrative Cost Allowance should be calculated and claimed (see Volume 6 of the Federal Student Aid Handbook). Any change to this information will not be accepted after December 15, 2017.
- Report the Federal share of Perkins Loan Fund’s Excess Liquid Capital that your school returned to the Department in Part III, Section A, line 28 “Repayments of fund capital to federal government.”
- Report the institutional share of Perkins Loan Fund’s Excess Liquid Capital that you returned to your school in Part III, Section A, line 30.2 “Distribution of excess/liquid fund capital.”
- If you encounter issues printing PDF files from the eCB website, review the information available at the PDF printing solution link at the top of the Self-Service page on the eCB website. Additional information about printing can be found in the 2018-2019 FISAP Desk Reference.