Kentucky State University Business Policies and Procedures Manual
Responsible position(s):
Grant Accountant or Senior Accountant
Required documents and access:
Banner
G-5
Frequency and timing:
Monthly after month-end close
Steps:
Determine amounts due for Federal financial aid applied to student accounts for programs including Pell, SEOG, Federal Work Study, and Direct Loans.
Draw funds from G-5 supported by reports of receivable amount.
Forward confirmation email of drawdown to CFO, Controller, and Cashier, to watch for incoming electronic payment(s) and provide instructions for recording the deposit(s).
Reports of FA receivable – difference between awarded and drawn
Login
Create Payment
Enter amount by award
Submit
Deposit bank
Credit account(s)