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Fiscal

FiFF Management: Activity 4: File Review Worksheet

Directions:

The file review activity is designed to test your disbursement procedures for Title IV Recipients. For this
activity, please pull a sample of at least 10 students who received Title IV funds and complete the
worksheet for each student in your sample. You may want to consider pulling a sample of Federal Pell
Grant Recipients since most Pell recipients will also receive other Title IV programs.

Student Name: SS N : Award year


reviewed:

Cost of Attendance (COA) General Disbursement Requirements


COA ______________  Required Student Authorizations on file 668.165
- EFC ______________
- Pell ______________  If selected, verification completed for this student prior to
- ACG National SMART ______________ releasing funds 668.58 and 668.60
- FFEL/Direct Loan ______________
- Institutional Aid ______________  Satisfactory Academic Progress Review prior to
- Other ______________ disbursement
- Other ______________
= total ______________  Student/parent was notified of amount of FSA funds
expected to receive and when the funds will be disbursed
Overaward? Y N
 If disbursements made early, requirements of 668.164
met for this student

 Proper method of disbursement used for this student


668.164

Did this student meet all general

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FiFF Management: Activity 4: File Review Worksheet

disbursement requirements? Y N
Fe d e r a l P e l l G r a n t Ye s No ACG Yes No
 Federal Pell Recipient
 Rigorous H.S. Program
 This student’s eligibility reviewed at time of  1st or 2nd year student
disbursement 690.75(a)  3.0 cum. GPA end of first year
 Pell Disbursements for the Award Year Reviewed:
National SMART Yes No
1st Payment Period $_______ 2nd Payment Period
 Federal Pell Grant Recipient
$_______
 Eligible Major
3rd Payment Period $_______ 4th Payment Period $
 2nd or 3rd year student
_______
 3.0 cum. GPA end
 Proper notification was made regarding the amount to
of each payment period
be paid, the method, and pickup date if paying by check
 Proration
1st Payment Period $_______ 2nd Payment Period $_______
3rd Payment Period $_______ 4th Payment Period $ _______

ACG/National SMART Grant payments for this student


Pell payments for this student acceptable under
acceptable under program regulations? Y N
program regulations? Y N

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FiFF Management: Activity 4: File Review Worksheet

FSEOG Ye s No FWS Ye s No
FSEOG Disbursements for the Award Year Reviewed:
1st Payment Period $______ 2nd Payment Period $______
3rd Payment Period $______ 4th Payment Period $ Total amount of FWS received _______
______ Has this amount been reconciled? Yes___ No___
 Pell eligible student  This student was paid on an hourly basis only (Graduate
 Portion of FSEOG disbursed during each payment period students can be paid either hourly or salary) 675.24
676.16  The student is paid at least once per month for work
 Followed rules for single disbursements, if applicable performed
676.16  The supervisor has signed all timesheets 675.19(i)
 Followed rules for uneven costs/unequal disbursements,  The school monitored this student’s FWS earnings 675.19
if applicable 676.16
FSEOG disbursements for this student acceptable FWS disbursements for this student acceptable under
under program regulations? Y N program regulations? Y N

Fe d e r a l P e r k i n s L o a n D i s b u r s e m e n t s

Date Promissory Note signed: ____/____/____ 674.16


Perkins Disbursements for the Award Year Reviewed:

$______________ 1st payment period $__________________2nd payment period


____/____/____ 674.16 Date entrance counseling performed

$______________ 3rd payment period $__________________4th payment period


____/____/____ 674.42(b) Date Exit counseling performed

 Promissory Note stored in a locked, fireproof cabinet 674.19(e)(4)

 The disbursement was reported to a national credit bureau as required 674.16

 Portion of Federal Perkins disbursed during each payment period 674.16

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FiFF Management: Activity 4: File Review Worksheet

 Followed rules for single disbursements, if applicable 674.16

 Followed rules for uneven costs/unequal disbursements, if applicable 674.16

Federal Perkins disbursements for this student acceptable under program regulations?
Y N

FFEL & Direct Loan Pre- FFEL & Direct Loan Disbursement
Disbursement
FFEL/Direct Loan Disbursements for the Award Year Reviewed:
Date of Entrance Counseling: ____/____/____
$___________ 1st Payment Period
682.604(f); 685.304
$___________ 2nd Payment Period
 Certified/Originated Correctly
$___________ 3rd Payment Period
 Eligibility of borrower confirmed before loan
disbursement 682.604(b)(2)(i); $___________ 4th Payment Period
685.303(b)(2)(i)
 The borrower is enrolled at least half-time  Proper disbursement procedures followed 682.207(c-e);
668.32(a)(2); 682.604(b)(2)(iv); 685.301(b)(2)
685.303(b)(2)(iv)
 30 day delay requirement met for first-time, first-year
 Financial Aid History received before borrowers 682.604; 685.303(b)(4)

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disbursement 668.19
 Proper disbursement notifications made

 Signed Master Promissory Note on file

 Prorated Correctly

 Within Annual Loan Limits

 Within Aggregate Limit

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