For those higher education professionals managing their college’s Title IV funds checkbook, the job comes with some critical compliance duties.
In a November 18 Electronic Announcement, the Department of Education reminds schools of the general disbursement reporting, excess cash, and reconciliation requirements for all Title IV programs. The Department suggests that both the Financial Aid Office and Business Office review the information since the requirements apply to disbursement and financial data.
The announcement includes detailed information addressing the following topics:
- Disbursement Reporting Requirements
- Excess Cash Requirements
- Reconciliation
- Final Reconciliation
Questions regarding disbursement reporting, excess cash, or reconciliation and processing can be directed to the FSA Partner and School Relations Center at 1-800-848-0978 or via email to CODSupport@ed.gov.
