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).
• oReports of FA receivable – difference between awarded and drawn
• oLogin
• oCreate Payment
• oEnter amount by award
• oSubmit
• oDeposit bank
• oCredit account(s)