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Fiscal Management: Federal Perkins Monthly Reconciliation Worksheet

This document provides instructions for completing a Federal Perkins Monthly Reconciliation Worksheet to reconcile the Federal Perkins account on a monthly basis. It describes filling out columns for the Financial Aid Office records, Business Office records, amounts in GAPS, any administrative cost allowance claimed, program transfers, and ensuring correct Perkins matching. Completing the worksheet monthly will make the annual reconciliation process easier. It also provides links to additional exercises on administrative cost allowance and non-federal share.

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56 views3 pages

Fiscal Management: Federal Perkins Monthly Reconciliation Worksheet

This document provides instructions for completing a Federal Perkins Monthly Reconciliation Worksheet to reconcile the Federal Perkins account on a monthly basis. It describes filling out columns for the Financial Aid Office records, Business Office records, amounts in GAPS, any administrative cost allowance claimed, program transfers, and ensuring correct Perkins matching. Completing the worksheet monthly will make the annual reconciliation process easier. It also provides links to additional exercises on administrative cost allowance and non-federal share.

Uploaded by

anon-679743
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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Fiscal

FiFF
Management: Federal Perkins Monthly Reconciliation
Worksheet

Complete the attached Federal Perkins Monthly Reconciliation Worksheet to ensure that the Federal Perkins
account has been reconciled. If your school has been reconciling monthly, the year-end process should be
easier.

These instructions should help your school understand how to use the Federal Perkins Monthly
Reconciliation Worksheet.

 Offices involved in the process: Financial Aid Office, Business Office, and Financial Aid Systems.

 Financial Aid Office Column: Determine the amounts disbursed each month from each program
(according to Financial Aid Office records). Calculate the totals for each program in the last row.

 Business Office Column: Determine the amounts disbursed each month from each program
(according to Business Office records, ledger, bank statements, etc). Calculate the totals for each
program in the last row.

 GAPS: Record the amounts in each column as reported in GAPS.

 Administrative Cost Allowance Column: Use this column to determine any Administrative Cost
Allowance claimed by the school. If none was claimed, this column can be skipped. For more
information, use the link to the Administrative Cost Allowance exercise available on the worksheet.

 Program Transfers Column: Use this column to record and track any transfers from the Federal
Perkins Program to any other Campus-Based Program.

 Federal Perkins Matching Column: Use this column to ensure that Federal Perkins Matching was
done correctly.

02/10/2008 1
Fiscal
FiFF
Management: Federal Perkins Monthly Reconciliation
Worksheet

Month of: ____________________ Amount of FCC: ______________________

Perkins Level of Expenditure (LOE): _________________________________________

Financial Aid Office Records Business Office Records GAPS


D i s b u r s e Adjusted Net Disburse Refunded Net Disburse Refunded Net
d Expended d Expended d Expende
d

TOTALS:

02/10/2008 2
Fiscal
FiFF
Management: Federal Perkins Monthly Reconciliation
Worksheet

Explanation of differences in amounts reported by Financial Aid Office, Business Office, or GAPS:

Administrati Program Transfers: Perkins Matching**


ve Cost
Allowance From Date Gross Inst. Share Feder
Claimed*: Comp al
Amount Share

To

Amount

Tools for Perkins Administrative Cost Allowance and Non-Federal Share:

Complete the Campus-Based Administrative Cost Allowance Activity from the Fiscal Management
Module.

Complete the Perkins Non-Federal Share Activity from the Fiscal Management Module.

02/10/2008 3

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