RE: Disbursing Federal Funds

From: Piper, Pat (ppiper@ufl.edu)
Date: Fri May 17 2002 - 11:49:33 EDT

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    Response from University of Florida in CAPS below:

    > -----Original Message-----
    > From: Stogryn, Jennifer [mailto:jstogryn@post03.curry.edu]
    > Sent: Thursday, May 16, 2002 3:13 PM
    > To: bursar-l@virginia.edu
    > Subject: Disbursing Federal Funds
    >
    >
    > Greetings,
    >
    > Our Finance and Financial Aid offices are in the midst of an
    > interesting
    > discussion about which office should be responsible for disbursing or
    > 'posting to the student's accounts' any federal funds. Currently, the
    > Bursar's area performs this function but we have been
    > informed by Fin Aid
    > that this is absolutely 'non-compliant' with current federal
    > regulations. My
    > understanding of the 'separation of functions' concept is
    > that the same
    > office can not both authorize/award and disburse aid. We are a Banner
    > school.
    >
    > I would greatly appreciate your responses to the following questions.
    >
    > What is the size of your institution.

    46,000 FTE
    >
    > Are your Bursar and Financial Aid offices separated or do
    > they report to the
    > same manager, i.e., Student Services Model?

    SEPERATED IN FUNCTION AND ORGANIZATION (REPORT TO DIFFERENT VP) BUT LOCATED
    NEXT DOOR IN STUDENT SERVICES BUILDING
    >
    > Who 'disburses' aid?

    WE DO IN THE BUSINESS OFFICE (UNIVERSITY FINANCIAL SERVICES)
    >
    > If Bursar disburses aid, does Fin Aid have any authority to
    > disburse aid
    > under any circumstances, i.e., for reconciling purposes?

    NO
    >
    > What is your definition of 'authorize' aid in regards to this topic?

    DETERMINE ELIGIBILITY FOR FINANCIAL AID
    >
    > What product/s do you use for Fin Aid and Student A/R?

    HOME-GROWN MAINFRAME SYSTEM

    Patrick Piper
    Administrative Services Coordinator
    University of Florida
    University Financial Services
    S-113 Criser Hall, PO Box 114050, Gainesville, FL 32611
    (352) 392-0766 Fax: (352) 392-3448
    ppiper@ufl.edu <mailto:ppiper@ufl.edu>

    >
    > Thank you in advance for your time! If there is any interest,
    > I will compile
    > responses and post to the listserve.
    >
    > Jennifer L. Stogryn
    > Bursar/Manager of Student Accounts
    > Curry College Milton, MA
    > (617) 333-2153
    > (617) 333-3140 fax
    >
    >

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