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Session 14
Rapid Reconciliation
and
Program Year Close Out
Session 14 - 2
Session 14
Session 14 - 3
EPJSEARS:
Reformat hanging
paragraph What is Rapid
Reconciliation?
Session 14 - 4
EPJSEARS:
Change
representations to Key Players in this
Process
representatives
screenbeans are
hiding a letter
Session 14 - 5
Contact Telephone
Numbers
■ Your Customer Service Representative or
Reconciliation Accountant at the LOC
(800) 848-0978 or
loan_origination@mail.eds.com
■ Your regional Client Account Management
Staff (see list on following slide)
Session 14 - 6
Regional CAM Contact
Region States Number
I-Boston CT, MA, ME, NH, RI, VT (617) 565-6911
II-New York NJ, NY, PR, VI (212) 637-6412
III-Philadelphia DC, DE, MD, PA, VA, WV (215) 656-5929
IV-Atlanta AL, FL, GA, KY, MS, NC, SC, TN (404) 562-6259
V-Chicago IL, IN, OH, MI, WI (312) 886-8766
VI-Dallas AR, LA, NM, OK, TX (214) 880-2405
VII-Kansas City IA, KS, MO, NE (816) 880-4090
VIII-Denver CO, MN, MT, ND, SD, UT, WY (303) 844-3677
IX-San Francisco AZ, CA, HI, NV (415) 556-4201
X-Seattle AK, ID, OR, WA (206) 615-2637
Session 14 - 7
EPJSEARS:
Increase font size
to be consistent
as possible to the
rest of
Reconciliation Process
presentation/as
well as font
1997/98 & 1998/99
style/check all
slides
– Confirmation/Appeal Process
– Status Letters mailed
– Bill Letters mailed
– Final Analysis of Program Year
– Program Year Close Out Letters mailed to
schools
Session 14 - 8
EPJSEARS:
Consolidate
points 2 and 3
Consolidate Reconciliation Process
points 7&8
1999/00
Balance Verification Process
– LOC mailed letters and processed school responses
– Issues worked by the LOC
LOC mailed Program Year Closeout Letters to schools
– Program Year Closeout Date (July 31, 2001)
Confirmation/Appeal Letters
– LOC mailed letters and processed school responses
– Issues worked by the LOC
Session 14 - 9
Manual Fixes
Session 14 -10
Manual Fixes
Session 14 -11
EPJSEARS:
Do we want to
address
outstanding Rapid Reconciliation and
negative balances
on slide and/or in
Program Year Close Out
speaker notes/
Clarification of
“establishing
1997/98 & 1998/99
Receivables”
make slide
content more– Forward outstanding issues to Case Management
centered
& Oversight (CMO) for their review
– Establish Receivables through CMO for
outstanding positive balances
Session 14 -12
Rapid Reconciliation and
Program Year Close Out
Session 14 -14
Rapid Reconciliation and
Program Year Close Out
Session 14 -15
EPJSEARS:
Take out 3rd
bullet/ Rapid Reconciliation and
change continues
to
Program Year Close Out
continued/check
all slides for that.
2000/01 continued...
– Program Year Closeout Letters mailed to schools as
schools confirm zero ending cash balance
– Selectively stop receiving and process batch data at the
Loan Origination Center
– Forward outstanding issues to CMO for their review
– Establish Receivables through CMO for outstanding
positive balances
Session 14 -16
Rapid Reconciliation and
Program Year Close Out
Session 14 -17
Session 14 -18
EPJSEARS:
Better align text
box to be Rapid Reconciliation and
consistent with
the other slides. Program Year Close Out
2001/02
– Program Year Close Out -
• December 31, 2002
– Common Procedures
– Balance Verification
– Site Visits
– Confirmation/Appeal Letters
Session 14 -19
EPJSEARS:
change continues
to continued Rapid Reconciliation and
lose third bullet Program Year Close Out
Use same
wording as in
2001/02 continued...
slide 23?
– Program Year Closeout Letters mailed to schools as
schools confirm zero ending cash balance
– Selectively stop receiving and processing batch data at the
Loan Origination Center
– Forward outstanding issues to CMO for their review
– Establishing Receivables through CMO for outstanding
positive balances
Session 14 -20
EPJSEARS:
change continues
to continued Rapid Reconciliation and
lose third bullet Program Year Close Out
Use same
wording as in
slide 23? Program Year Close Out
for
2001/2002
is
Session 14 -21
EPJSEARS:
change font to be
consistent with
rest of
Rapid Reconciliation and
presentation Program Year Close Out
Take off periods
from each bullet
Increased Monitoring
statement
Emphasize that
– Use LO-Online Reports to monitor activity
all players will be
participating in
increased related to Direct Loan processing weekly
monitoring
– Proactively contact schools in a priority order
based on ending cash balance, unbooked loans,
loan period end dates
– Use LO-Online with schools to help them
resolve issues
Session 14 -22
EPJSEARS:
Change font
change Closed to Rapid Reconciliation and
Close Program Year Close Out
Change
confirmed to
confirm
Confirming Close Out
Take out “when”
in third bullet
– Schools can confirm they are finished with
Program Year Close Out (PYCO)
GAPs processing
instead of process
– What will happen next?
– Processing at LOC will cease for that year
– GAPS processing will cease for that year
– Close Out letter will be sent
Session 14 -23
EPJSEARS:
Add a slide that
identifies the tools
we are going to
demo when we
Reconciliation Tools
show the report
screen shots.
■ Reports
Reports
– 30-Day Warning
lo-online
– New Format! DLSAS
dl toolkit software
– 732
– Other Reports
■ LO-Online
– Turn Reports On or Off
■ Compare Program
■ Direct Loan Tools Software
Session 14 -24
EPJSEARS:
Fix 2nd point of
first bullet Can choose either
2nd bullet
List (indent) the
DLSAS or 732 Report
parts of the
DLSAS sections
In 2001/02 you can receive the DLSAS in a
Move slide 35 -
47 to appear after
slide 27. – Text format (current format) - DSAS02OP
– Delimited (new format) - DSAC02OP
■ The DLSAS has six sections
– Monthly and YTD Cash Summary
– Monthly and YTD Disbursement Summary by Loan Type
– Cash Detail
– Loan Detail
Session 14 -25
732 Report - 2001/02
Session 14 -26
Session 14 -27
EPJSEARS:
switch order of 28
and 29…if you LO-Online Website:
http://lo-online.ed.gov
want to
Provides:
■ Access to batch and transaction information
■ Access to loan information by school ID
■ New:
– Batch Reports Option
– Master Promissory Review
– Change Record Processing
Session 14 -28
EPJSEARS:
Change first bullet
to be about the Maintain Batch
Reports
30-day warning
report
■
DID I GET THE 30-Day Warning Report
INFO FOR 30-
– Disable
DAY WARNING
– Specify format
CORRECT?
■ DLSAS
– Disable
– Specify format
■ Disb Activity Not Yet Booked in Servicing
– Disable
– Specify format
■ 732
– Disable (only if program year is closed)
– Specify format
Session 14 -29
Maintain Batch
Reports--Disable
Session 14 -30
MPN Review
■ Check to see if student has an MPN on file
■ Displays:
– Loan Year
– Status
– Date of MPN
– Expiration Date
■ Indicator for electronic versus paper
Session 14 -31
Josiah Bartlet
111-11-1111
01-01-1945
Session 14 -32
Batch Processing
■ Identify rejects
– duplicate batches
– rejected records
– rejected disbursements
■ Resolve problems
Session 14 -33
Session 14 -34
Session 14 -35
Session 14 -36
Session 14 -37
LO Online Reports
Available from your CAM
■ ECB including total cash receipts, booked and
unbooked loans
■ Detailed information on unbooked loans
■ Cash receipts by program year
■ Excess cash totals
Session 14 -38
Session 14 -39
Session 14 -40
Session 14 -41
Session 14 -42
Direct Loan
Reconciliation Tools
Continued...
Compare Program
Direct Loan Tools Software
Session 14 -44
EPJSEARS:
Insert transition
slide before this
slide Compare Program
Include in notes:
Compare
Program available
The Compare Program is a Microsoft
for which years
available
Session 14 -45
EPJSEARS:
Remove periods
check all slides
for this Compare Program
Session 14 -46
EPJSEARS:
Remove periods
Compare Program
Session 14 -47
Direct Loan
Tools Software
■ 732 Compare
Session 14 -48
EPJSEARS:
Say something
that will tell what Rebuild, Cash
Management & Compare
years DL Tools is
for
Session 14 -49
Session 14 -50
Session 14 -51
Session 14 -52