Posted Date:August 1, 2018
|Author:||Federal Student Aid|
Subject: Information and Reporting Reminders for the Fiscal Operations Report for 2017–18 and Application to Participate for 2019–20 (FISAP)
The Fiscal Operations Report for 2017–18 and Application to Participate for 2019–20 (FISAP) is now available on the Common Origination and Disbursement (COD) Web Site.
Schools that had Campus-Based expenditures for the 2017–18 Award Year and schools that wish to request funding under the Campus-Based programs for the 2019–20 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, 2018. Transmission must be completed by midnight.
Information for Hurricane-Impacted Schools and Schools that Received Supplemental Funds due to the Hurricanes:
The Hurricanes Harvey, Irma, and Maria Education Relief Act of 2017 extended certain flexibilities to schools that may impact their information reported on 2017–18 Award Year activity on the Fiscal Operations Report. The Department of Education identified schools that were impacted by the 2017 hurricanes or had students enrolled who were impacted by the hurricanes and awarded 2017–18 supplemental Federal Work-Study (FWS) and/or Federal Supplemental Educational Opportunity Grant (FSEOG) funds to all identified schools.
Any unexpended 2017–18 supplemental FWS or FSEOG funding may be carried forward and spent in 2018–19. The maximum amount that may be carried forward is up to 100% of the supplemental award, OR up to 10% of the total (original plus supplemental) allocation for the program. Any amount carried forward must be reported on the FISAP.
If a school returns more than 10% of its 2017–18 total (original plus supplemental) FWS and/or FSEOG allocation, the school will notreceive a penalty to its 2019–20 FWS or FSEOG allocations. A school does not have to take any action in Part II, Section C of the FISAP to apply for a waiver of the underuse of funds— the waiver will be granted automatically to impacted schools that received supplemental funding.
Schools that received supplemental funding were not required to provide an institutional match to their 2017–18 FWS or FSEOG allocations. If this is applicable to your school, report any amount of institutional share your school did provide accurately on the FISAP.
If a school encounters Edit Errors (including but not limited to 08030, 08090, and 09060) during the FISAP validation process as a result of this guidance, you will have the option to log an explanation for the edit citing your status as a school that received supplemental funding. However, you may proceed to submit the FISAP with or without explanation.
Reminders for ALL Schools:
Any updates to the FISAP and instructions have been outlined in the July 13, 2018ormInstruDeskRefTechRefeDue100118.html">July 13, 2018sbursements made from 2017–18 funds should be reported in Part II, Section E, Field 23. If crossover payments are made from 2018–19 funds, the disbursements should be reported in next year's FISAP (Fiscal Operations Report for 2018–19 and Application to Participate for 2020–21).
The financial aid and business office staff must coordinate efforts in order to reconcile and report accurately on the 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 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 (ACA) should be calculated and claimed (see Volume 6 of the Federal Student Aid Handbook). After December 14, 2018, schools are not permitted to make any additional claims to the ACA that were not previously reported on its FISAP.Note: Schools that advanced Federal Perkins Loans to students during 2017–18 are permitted to claim the ACA for this year. No Perkins ACA is permitted to be claimed after 2017–18.
- 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.”
Contact InformationFor 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.