M.E.G Calabrese University of Minnesota – Twin Cities

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Slide 2 M.E.G Calabrese University of Minnesota Twin Cities Slide 3 M.E.G. Calabrese - schmi138@umn.edu University of Minnesota Twin Cities 15 years experience in Direct Lending Approximately $3 BILLION in Direct Loans disbursed since 95-96. And all reconciled to $0 balances. Slide 4 Its a Journey, not a destination Slide 5 Do not fear it; its not that bad. Work your origination rejects. Work your change rejects. Work your disbursement rejects. Slide 6 Find a method that works for your school, your system and you. Keep on top of it. Slide 7 Get your SAS (School Account Statement) as a fixed length report and retrieve from your SAIG mailbox. SASs are generated the first of the month. Download the files using the FA inbound process. Slide 8 Enter your cash draws from G5 into Manage DL Cash Transactions page. Reconcile your cash activity. Slide 9 Run the Generate Reconciliation Report under the DL School Account Summary menu. Identifies loans that exist in your system but not at COD Reconcile cash draws Loans or cash transactions that do NOT match show on report. Work these. Slide 10 Realize that sometimes timing is an issue and that on the next months report there wont be an issue. If not timing, disbursement or change record not yet accepted at COD. Fix what is wrong. Slide 11 Keep a copy of the PDF generated for auditors to show youre doing monthly reconciliation. Slide 12 Process at U of M: Load SAS into Access database. Load PeopleSoft query info into that database. Use compare to find loans that do not match up (dollar amounts are off). Fix those loans as needed. Slide 13 Helpful queries: Loans on hold (run daily) Unbooked loans (run weekly) Failed origination (run daily) Slide 14 M.E.G. Calabrese University of Minnesota schmi138@umn.edu 612-624-0824 schmi138@umn.edu Slide 15