Maintained for Historical Purposes

This resource is being maintained for historical purposes only and is not currently applicable.

Federal Pell Grant Program - Appendix D: Reconciling Student Payment Data Using the SPS

AwardYear: 1996-1997
EnterChapterNo: 4
EnterChapterTitle: Federal Pell Grant Program
SectionNumber:
SectionTitle: Appendix D: Reconciling Student Payment Data Using the SPS
PageNumbers: 113-114


Reconciliation of student payment data to the latest batch submitted

Example

IPS dated 12/01/96
Total Payments to date to Pell Recipients
per school records (Item 15) $12,414
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

STEP 1. From institutional records, determine the payments not yet
made through the date of the last batch. EXAMPLE: $2,700
remained to be paid as of the 12/01/96 posting date in the general
ledger.

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 Total Payments to Date to
Pell Recipients per school records. EXAMPLE: Compare $12,414 to
$12,035; the difference is $379.

STEP 4. Account for any discrepancy in the following categories:

- Payments included in Net Expenditures for recipients the school
has not yet reported;

- Payments included in Net Expenditures for recipients the school
reported but the Department rejected;

- Payments included in Net Expenditures which the Department
disallowed;

- Payments included in the schoolÂ’s student payment data but
omitted from Net Expenditures; and

- Recoveries the school has restored to its Pell account but has not
reported to the Department as changes to its student payment data.

If you cannot reconcile student payments to Net Expenditures in this
manner, the school may have misreported its Net Expenditures. The
school needs to report these corrections promptly.

Please keep in mind that

- The Total Payments to Date to all Federal Pell Recipients per
school records SHOULD NEVER EXCEED the schoolÂ’s Pell
authorization--the school cannot pay more Pell funds than the
Department has authorized.

- The Total Payments to Date (Net Expenditures) should equal or
exceed the total Amount Paid to Date listed on the SPS, unless the
school has already recovered some of those payments.

- The Net Expenditures 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
lower its Net Expenditures.

- The Net Expenditures 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.


Reconciliation of Pell student payments to institutional records

STEP 1. Take the reconciled student payment total from Step 4 on
the preceding page and add to that figure any payments the school
has made since the date it last submitted a batch of Payment Data.

STEP 2. Compare the result from Step 1 to the institutional records.

STEP 3. Account for any discrepancy in the same manner as
described in Step 4 on the preceding page.

STEP 4. The school should adjust its institutional records and/or
report new recipients and payment amount adjustments to the
Department to reconcile its Net Expenditures, student payments, and
institutional records.