Fund Setup

See Fund Setup Data Elements to explain each item in Fund Setup.

Add Fund

What is it?

This is the process by which you set up funds in the system.

Table of Contents

Here's how it works:

1. From the Administration bar, navigate to the appropriate Campus. Expand the tree for the campus by clicking on the arrow to the left of the campus name, clicking on Fund Setup, and then clicking on Add Fund.

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   • Note: When a new fund is added and saved, the system clears any filters in the top grid before displaying the newly added fund type.

2. Enter all the fund-related information for the General subtab and then click the Save button. Repeat the process for each fund being added.  
   
   

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3. If the fund has a budget, click the Add Budget button and configure it on the Budgets subtab.

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4. After Sites, Programs, and Disbursement Schedules are configured, associate the appropriate information for the fund on the Sites, Programs, and Disbursement Schedules subtabs.

Treatment of Paid vs Unpaid Disbursements

COD Reported Funds

For COD-reported funds (Pell, Direct Subsidized Loans, Direct Unsubsidized Loans, Direct Graduate PLUS Loans, Direct Parent PLUS Loans, TEACH and IASG):

• Regardless of the values configured on Fund Setup for “Allow Auto-Adjustment of Paid Disbursements” AND Campus Setup for “Attempt To Keep Paid Disbursements Unchanged,” Regent Award must ALWAYS create a new disbursement for upward adjustments if the existing disbursement meets the following criteria:

  • If the DRI flag for the disbursement is "true,” and the disbursement increases, then a new disbursement must be created. 

    • Note:  The DRI “true” disbursement may not have a status of "Paid" in Regent Award at the time of the upward adjustment, but RNA should still create a new disbursement for the upward adjustment amount.  

• Decreases to the disbursement should be handled as they are today under Regent Award's current functionality, using the Fund and Campus configuration options mentioned below.

Non-COD Funds

If Fund Setup “Allow Auto-Adjustment of Paid Disbursements” = “Yes”:

• And if Campus Setup “Attempt To Keep Paid Disbursements Unchanged” = “Yes”:

  • If there’s an increase to the award:

    • Create or update existing unpaid disbursements to account for the increase.

    • Create new disbursements when the existing disbursement is paid.

  • If there’s a decrease that’s within the total of unpaid disbursements:

    • Decrease the unpaid disbursements to account for the decrease.

  • If there’s a decrease that is not absorbed by the total of unpaid disbursements:

    • Decrease paid disbursements.

  • If all disbursements are paid,  any increase will create a new disbursement.

• And if Campus Setup “Attempt To Keep Paid Disbursements Unchanged” = “No”:

  • Increase or decrease paid disbursements as needed to accommodate award adjustments.

  • Unpaid disbursements can be increased or decreased.

If Fund Setup “Allow Auto-Adjustment of Paid Disbursements” = “No” (then Campus Setup Attempt to Keep Paid Disbursements Unchanged setting is obsolete):

• If there’s an increase:

  • Create or update existing unpaid disbursements to account for the increase, or if all disbursements are paid, create a new disbursement to account for the increase.

  • Create new disbursements when the existing disbursement is paid.

• If there’s a decrease that’s within the total of unpaid disbursements:

  • Decrease the unpaid disbursements to account for the decrease.

• If there’s a decrease that is not absorbed by the total of unpaid disbursements:

  • Cancel all unpaid disbursements.

• If there are no paid disbursements, update existing disbursements freely.

If Fund Setup “Allow Auto-Adjustment of Paid Disbursements” = “Yes”:

• And if Fund Setup “Attempt To Keep Paid Disbursements Unchanged?” = “Yes”

  • If there’s an increase to the award:

    • Create or update existing unpaid disbursements to account for the increase.

    • Create new disbursements when the existing disbursement is paid.

  • If there’s a decrease, and the amount of the decrease is less than or equal to the total of unpaid disbursements:

    • Decrease the unpaid disbursements to account for the decrease.

  • If there’s a decrease and the amount of the decrease is greater than the total of unpaid disbursements:

    • Decrease paid disbursements.

  • If all disbursements are paid, any increase will create a new disbursement.

• And if Fund Setup “Attempt To Keep Paid Disbursements Unchanged?” = “No”:

  • Increase or decrease paid disbursements as needed to accommodate award adjustments.

  • Unpaid disbursements can be increased or decreased.

Allowing Awards for Multiple FAYs in a Crossover Period 

When the 'Allow Awards From More Than One Available FAY per Crossover Period' is checked in a crossover payment period (a payment period that spans multiple FAYs, e.g., Summer,) the payment period may contain an award from the prior-year FAY as well as the next-year FAY. When the field is unchecked, all awards from the fund in the same payment period must be from the same FAY.

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