Posted Date: August 2, 2019

Author:  Federal Student Aid

Subject: Information and Reporting Reminders for the Fiscal Operations Report for 2018–19 and Application to Participate for 2020–21 (FISAP)

The Fiscal Operations Report for 2018–19 and Application to Participate for 2020–21 (FISAP) is now available on the Common Origination and Disbursement (COD) Web Site.

Schools that had Campus-Based expenditures for the 2018–19 Award Year and schools that wish to request funding under the Campus-Based programs for the 2020–21 Award Year are required to electronically submit a FISAP via the COD Web Site. The deadline for the electronic submission of the FISAP is 11:59 p.m. Eastern time (ET) on October 1, 2019. Transmission must be completed by midnight.

In a July 26, 2019 Electronic Announcement, schools were informed of the availability of the final 2020–21 FISAP Form, Instructions, Desk Reference and 2020–21 Technical Reference.

Reminders:

  1. Updates to the FISAP and instructions have been outlined in the July 26, 2019 Electronic Announcement.

  2. Schools that were impacted by any 2018 natural disaster and, as a result, must return more than 10% of their 2018–19 total (original plus supplemental) FWS and/or FSEOG allocation should apply for the underuse waiver in Part II, Section C. Waivers will be approved for any schools that were impacted by a disaster.

  3. Only disbursements made from 2018–19 funds should be reported in Part II, Section E, Field 23. If crossover payments are made from 2019–20 funds, the disbursements should be reported in next year's FISAP (Fiscal Operations Report for 2019–20 and Application to Participate for 2020–22).

  4. The financial aid and business office staff must coordinate efforts in order to reconcile and report accurately on the FISAP.

  5. 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 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.

  6. Appropriate Administrative Cost Allowance (ACA) should be calculated and claimed (see Volume 6 of the Federal Student Aid Handbook). After December 13, 2019, schools are not permitted to make any additional claims to the ACA that were not previously reported on its FISAP.

    Note: No Perkins ACA is permitted to be claimed after 2018–19.
  7. Report the federal share of Perkins Loan Fund’s that your school returned to the Department in Part III, Section A, line 28 “Repayments of fund capital to federal government.” Your school should not have returned the federal share to the Department; however, if funds were returned, your school must report the amount returned on this line.

  8. Report the institutional share of Perkins Loan Fund’s that you returned to your school in Part III, Section A, line 30.2 “Distribution of excess/liquid fund capital.” Your school should not have returned the institutional share to the Department; however, if funds were returned, your school must report the amount returned on this line.

Contact Information

For additional information about the FISAP or the referenced documents, contact the COD School Relations Center at 1-800-848-0978. You may also email CODSupport@ed.gov.

   

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