Financial Aid and Awards Administration

1. Financial Aid and Awards Administration

2. Today’s Topics • Who’s who/What’s what • Terminology • Fund Management • Budget Management • Award Processing • Award Maintenance • Eligibility • Reporting • Support

3. Who’s who/What’s what

4. Who’s who/What’s what Who’s who • Scholarships & Student Aid Office (SSAO) • Student Funding (SF) • Award Processing Support Service (APSS) • Graduate & Post Doctoral Studies (GPS) What’s what • BSAC/BSA • FAA Admin

5. Terminology

6. Aid Year/Fiscal Year/Grant Year • Aid Year (Academic Year) • A complete aid cycle for which student aid/award is being tracked. McGill defines as academic year i.e. September 1st to August 31st of the following year. • Fiscal Year - May 1stthrough April 30th . • Grant Year - Twelve consecutive months as determined by the Granting Agency. The most common but not limited to is Tri-Agency which runs from April 1stthrough March 31st.

7. Aid Fund • An Aid Fund Code in BSA is a unique code that is used to distinguish an award entity • These codes identify specific awards, e.g. institutional scholarships, external fellowships, stipends, etc. with properties • An aid fund for a monetary award is associated to a FOAPAL and is given an Allocation • More than one aid fund may be associated to one FOAPAL (but only one FOAPAL can be associated to an aid fund.) • An award that should come from two FOAPALs is processed as two awards.

8. Aid Fund Code coding Coding convention: 1st character =>Award Type S-Scholarship, F–Fellowship; R–Agency; I–Stipend; T - Travel 2nd-6th character => Finance Fund 7th character =>Program StageEntrance, In-Course & Convocation 8th– 9th character =>sequential number assigned or G/S • Aid Fund names for Agency Awards are based on the FIS fund title • Aid Fund names for Student Stipends begin with STP – [researcher last name] – first characters of the FIS fund title R 213875 C • 0G C 179518 • 00 F • 0G I 217818 C

9. Disbursement/Memo/Payment • Disbursement • Release award and pass award info to the system that pays it: • Accounts Receivable (AR) – award pays for tuition, etc. • Accounts Payable (AP) – Student gets a cheque or direct deposit Note: If a payment is future dated it is still “disbursed” • The payment of an award on the scheduled pay date • Memo - Future-dated disbursements (payments) not yet paid • Payment - The payment of an award on the scheduled pay date

10. Award/Stipend/ • Award – based on academic merit, extra-curricular or community activities, travel support or demonstrated need • Stipend – paid from a researchers grant for the student to work on thesis research (Support) • The funding source is depicted in the Finance system as a Grant (2F or 2M). • Such payments are subject to approval by the RFMS in Financial Services to ensure compliance with granting agency restrictions and thresholds.

11. Support/Employment Income FAA Admin • Support • Students may be “working” in a lab with the Researcher but it is notconsidered “pay for work” if: • The research is in support of the student in qualifying for a degree or other scholastic recognition in their field • There is no work schedule • There is no contract • There is no timesheet • Employment Income • Research Assistantships or other forms of employment • Treated as employment income with T4 and Relevé 1 slips issued • Pay for work performed (e.g. laboratory work) • Pre-arranged terms – hourly rate, # hours, specific work days • Under specific direction of researcher or co-researcher =>Work for pay example: Student has graduated and received their degree but researcher wants to keep them on working in the lab for 6 months HR/Payroll

12. Student Stipends • See ‘Student Stipends’ link http://www.mcgill.ca/studentfunding/faa-admin-toolkit/factsheets/studentstipends • ***Agency requires PI signature. Use ‘Student Stipend Payment Authorization form’ (retain for 7 years) found at http://www.mcgill.ca/studentfunding/forms/paymentauthorization*** • The Student: • is not eligible for the university benefits plans including, but not limited to Group Life, Health, Dental, LTD and Pension. • is not eligible for federal and provincial government deductions and benefits such as: Employment Insurance, Quebec Pension Plan, Quebec Parental Insurance Plan and Medicare. • is not subject to the 4% vacation pay or any form of vacation accrual or payment • will not be entitled to collect Employment Insurance upon completion of the payments. • will receive T4A/Releve1 receipts for income tax purposes for both the Federal and Quebec governments.

13. Disbursement schedule • A disbursement schedule is the calendar of award payments. • Awards are released for payment based on the disbursement schedule and transmitted to the student’s bank account within 1 – 4 business days • Some award types may have a default disbursement schedule (Fellowships often have a ten payment default schedule, Scholarships have two – Fall & Winter term) • The disbursement schedule wizard can automatically generate a schedule of payments based on a monthly or semi-monthly schedule • Disbursement schedule dates drive which aid year, grant year or fiscal year the transactions are posted to. • BSA does not have a trail out period like FIS at yearend. The last day of the year is the last day to process • i.e. A payment with an April scheduled pay date that was delayed and only paid in May will be charged in May. We cannot back date records for posting purposes

14. Disbursement Schedule • Default • pre-determined schedule established on a Aid fund code • Carry forward same schedule year after year • Ideal to pay Fall awards in August • Required • No schedule exists – it must be created upon submission of an award using the award processing form • Custom • A schedule that has been created using the award processing form

15. Disbursement Schedule • Monthly/Semi-Monthly/Customize • Pay frequency determined when generating a new disbursement schedule. • Customize is an option that allows you to design your own disbursement schedule e.g. lump sum payment, 50/50 split for fall/winter term

16. Payment Method • Accounts Payable (A/P) • Award payment made via Direct Deposit to a student’s personal bank account • Accounts Receivable (A/R) • Award payment made via Student Accounts to a student’s individual fee account

17. Status Codes • Forecast • Award has not been disbursed • Accepted • The award has been submitted, and is awaiting processing by the Central Office. • Revoked/Rescinded • The award was revoked after at least one payment was made. • Used when an award is being taken away from the student / revoked. • Visible to the student in Minerva Financial Aid & Awards tab • Cancelled • The award was canceled before any payments were made. • Cannot be used for awards that have been disbursed. • Not visible to the student in Minerva Financial Aid & Awards tab • Award processor cancels award in Minerva

18. Fund Management

19. BSA Fund Management structure • Direct Deposit • Student Fee Account

20. Aid Fund creation • Central aid office create • Fellowships & Scholarships approved by CESA (Committee on Enrolment and Student Affair) automatically • All other Fund types (not 2C, 2E, 2F, 2M with grants) upon request • Requests are made using Aid Fund Request Form – http://www.mcgill.ca/studentfunding/forms/aid-fund-request-form • Award Processors create • Student Stipends and Agency Awards (2C,2E, 2F & 2M grants only) • Requests are made using ‘On the fly’ Aid Fund Request Form

21. Understanding Award Properties

22. Impact of ORG/PROG changes • Aid Fund code is associated to a FOAPAL

23. Impact of ORG/PROG changes • Aid Fund code that has not been used can have the ORG/Prog changed • Aid Fund code that has been used must be terminated and a new code created with the new FOAPAL combination • Implicates • Future dated memos on old FOAPAL • Reassignments • If Finance journals are done • BSA will be out of sync with FIS • It may implicate user security

24. Termination date / BSA vs FIS • Aid Fund Codes will pick up the termination date from Finance through a nightly process • Finance funds that get re-activated do not get picked up in BSA • Users must notify student.funding that the Fund is re-opened

25. Budget Management

26. Funding Sources Supporting Student Awards Endowment Income or Direct Spending Finance fund types: 2A medals 2B prizes 2C scholarships 2D bursaries 2E fellowships “Institutional Awards” From PI’s research grant “Student Stipends” Finance fund types: 2F grants 2M contracts Linked to Grant Code Finance fund types: 1A operating Finance fund types: 2C scholarships 2E fellowships Linked to Grant Code “Institutional Awards” Allocated to Faculty/Departments by Central Aid Office “Agency Award to Student” Granting Agency awards to Student Proportions not accurate

27. Budget Management • BSA budget: every Aid Fund (monetary award type) that is set up in BSA requires a corresponding budget • Budgets in BSA are separate from FIS budgets • How budgets are set in BSA depends on the fund type of the FOAPAL to which it is attached

28. Budget Management • Finance Funds used exclusively for institutional awards and agency awards (2A to 2E fund types) • Nightly refresh from Finance budgets to set Budget to ‘actual’ in FAA • Researcher’s funds for student stipends (2F & 2M fund types) • No upfront budget required. System will self-adjust budget based on disbursements scheduled. • Operating and Other funds (not 2A-2E, 2F, 2M fund types and not linked to a grant) Note: BSA Budgets are only a guide and do not necessarily reflect the available balance in Finance. BSA Budgets can be adjusted upon request

29. Budget Management • Budget Setup/Adjustments • BSA Budget Adjustment Request form • Only funds that are not part of the automated nightly refresh • Excludes 2A -2E, 2F, & 2M • The form requires the FFM, FFO, FST or KFC to be copied on the request • Allows for disapprovals to occur • Central Aid Office processes within 1-3 business days

30. Encumbrances • Based on the disbursement schedule, BSA will pass encumbrances to Finance for future dated payments • Up to the end of the fiscal year • Or, if a grant, up to the end of the current active grant year • Up to the End of the Aid Year • Once the future payment date = today • Encumbrance cancelled as payment is issued (and therefore expense is recorded) • Will be encumbered only when disbursed • Future years are not disbursed until the year becomes active

31. Future Dated Disbursements (Memos) If payment date is beyond the current fiscal year: • No encumbrance • On the 1st day of the fiscal year within which the memos are to be disbursed (e.g. June 1st for 2014), original encumbrances are batch loaded.

32. Example: today is Oct 8th • Payment schedule set on Oct 8th: • Pay immediate $400 to student fees • Pay immediate $600 as direct deposit • Pay $1000 on March 1st • Pay $1000 on July 1st.

33. Example: today is March 1st • Payment schedule set on Oct 8th: • Pay immediate $400 to student fees • Pay immediate $600 as direct deposit • Pay $1000 on March 1st (was processed) • Pay $1000 on July 1st.

34. Example: today is June 1st • Payment schedule set on Feb 24th: • Pay immediate $400 to student fees • Pay immediate $600 as direct deposit • Pay $1000 on March 1st • Pay $1000 on July 1st.

35. Yearend • Fiscal/Aid Year Considerations • May 1st open new fiscal year in BSA • Require two day operational shutdown • FIS Encumbrances do not roll for 5-7 business days • Balances in Finance will be skewed • Payments will not be delayed • Encumbrances will not be cleared upon payment • Encumbrance and Actual will both appear on ledger during this period

36. Award Processing

37. Award Processing A w a r d S u m m a r y/S e a r c h m e n u A w a r d P r o c e s s i n g m e n u PREVIEW & SCHEDULE POST-AWARD ACTIONS CREATE QUERY SUBMIT • CREATE AWARD(S) • Select Aid Fund • Indicate term/dates, as prompted by system • Displays the Aid Fund properties • Assign student and amount • If you have multiple recipients on the same Aid Fund, you may enter a list of students & amounts in bulk (you can use copy & paste) • CREATE AID FUND(S) • If needed, you can create new Aid Funds on-the-fly for Stipends and Agency awards from the Aid Fund list or via a separate menu item.

38. Financial Aid & Awards AdminTab in Minerva A w a r d S u m m a r y/S e a r c h m e n u A w a r d P r o c e s s i n g m e n u PREVIEW & SCHEDULE POST-AWARD ACTIONS CREATE QUERY SUBMIT • PREVIEW & SCHEDULE AWARD(S) • See your list pending submission to confirm award information • Create disbursement schedule(s) • Review warnings and fix any errors flagged by the system which could include: • Duplicate awards • Invalid IDs • Sum of scheduled disbursements don’t equal total award. • Insufficient budget • TIP: Your preview list cannot be saved. You must submit before leaving this page.

39. Financial Aid & Awards AdminTab in Minerva A w a r d S u m m a r y/S e a r c h m e n u A w a r d P r o c e s s i n g m e n u PREVIEW & SCHEDULE POST-AWARD ACTIONS CREATE QUERY SUBMIT • SUBMIT AWARD(S) • All is deemed final and error-free • Once preview list is submitted, some awards can no longer be updated • Upon submission, award(s) then: • Reviewed by Fund Administrator (Stipends & research awards on researcher grants only) • Processed by central Aid Office • Appears to student in Minerva ‘My Financial Aid & Awards’

40. Financial Aid & Awards AdminTab in Minerva A w a r d S u m m a r y/S e a r c h m e n u A w a r d P r o c e s s i n g m e n u PREVIEW & SCHEDULE POST-AWARD ACTIONS CREATE QUERY SUBMIT • QUERY AWARD(S) • Use filters to look-up awards. Must at least specify one of: • Student ID • Aid Year • Finance Fund/Aid Fund • You can query • Awards you originated • All awards within the unit or faculty, as dictated by your FAA security. • Use list and drill down to award details to: • Check the status of a particular award • To verify a colleague’s processed award as back-up or duplicate avoidance • Initiate a change to a particular award (see next step )

41. Financial Aid & Awards AdminTab in Minerva A w a r d S u m m a r y/S e a r c h m e n u A w a r d P r o c e s s i n g m e n u PREVIEW & SCHEDULE POST-AWARD ACTIONS CREATE QUERY SUBMIT • POST-AWARD ACTIONS • You may need to take action on a previously processed award, such as: • Update the comments associated to an award • Change disbursement schedule if not subject to RRF approval and not yet disbursed. • Reassign some or all payments (past or future) to another FOAPAL/Aid Fund if disbursed • In some circumstances, make changes to or cancel an award if not disbursed.

42. Checklist for Award Processors Student validation (SR Admin & Unofficial Transcript – SIS access required) • Golden Rule • Students must go to their home departments for support • Student Eligibility • Registration • Status • Full time/part time • Degree/program/number of credits • Meets restrictions • Student Personal data updated (Student’s Personal/Financial Aid & Awards) • Address Information • Direct Deposit Banking Information • Canadian Banks only • No more cheques (extremely exceptional cases)

43. Checklist for Award Processors Award validation (FIS access required) • Finance Fund exists • Aid Fund Code exists • Budget available in BSA/Finance • Disbursement Schedule option chosen • Appropriate payment method chosen Award verification (BSA access required) • View award record using Award/Summary Search menu • Inform Student.Funding@mcgill.ca if any changes are required

44. Disbursement Schedule • A Processingschedule is available • To guide award processors with a timeline for processing awards and stipends • Provides deadline dates for each the pay dates within the calendar year • Includes expected delays due to holidays and summer Fridays

45. Award Payment Delays • Award Payments may be delayed for various reasons: • Student no longer eligible • Student personal data not updated • Finance fund has ended • And more… • Student Funding will email the award processor only • Data linked to award processor and their personal email (first.last) • We cannot email to generic email accounts

46. Processing anInstitutional in-course Scholarship • Budget of $6,000 in Fiscal Year • Three recipients • $1K/student for each Fall and Winter term • typically paid via A/R (to student fee account) • All within same fiscal year and aid year May/10 Jan/12 May/13 Jan/11 Sept/11 May/11 Sept/10 May/12 Jan/13 Sept/12 FY12: May/11-Apr/12 FY13: May/12-Apr/13 FY14: May/13-Apr/14 $6K Aid Year 1112 Aid Year 1213 Aid Year 1314 … Fall201109 Summer201205 Winter201201 Fall201209 Summer201305 Winter201301 Fall201309 Winter201401 $1Kx3=$3K $1Kx3=$3K

47. Processing an Institutional convocation award • $1,000 award given at convocation • Typically paid out in May once final marks in • Pick the term of the student’s last registration. • Most have been setup with April 30th disbursement date to ensure award is paid out immediately when processed • Awards are disbursed close to the convocation date May/10 Jan/12 May/13 Jan/11 Sept/11 May/11 Sept/10 May/12 Jan/13 Sept/12 FY11: May/10-Apr/11 FY12: May/11-Apr/12 FY13: May/12-Apr/13 $1K $1K Aid Year 1112 Aid Year 1213 Aid Year 1213 … Fall201009 Summer201105 Winter201101 Fall201109 Summer201205 Winter201201 Fall201209 Winter201301 $1K Tip!

48. Processing an Institutional Fellowship • $24,000 from May/12 to April/13 • Using funds within fiscal year • Award split ($8K and $16K) into two aid years This is the perfect scenario to use if you need to spend your allocation by end of fiscal year May/10 Jan/12 May/13 Jan/11 Sept/11 May/11 Sept/10 May/12 Jan/13 Sept/12 Budget $24K FY12: May/11-Apr/12 FY13: May/12-Apr/13 FY14: May/13-Apr/14 Aid Year 1112 Aid Year 1213 Aid Year 1314 … Fall201109 Summer201205 Winter201201 Fall201209 Summer201305 Winter201301 Fall201309 Winter201401 $8K $8K $8K Tip: Know if your funding source must be used by April 30th e.g. GEF/GREAT

49. Processing an Institutional Fellowship • $24,000 from Sept/11 to Aug/12 • Crossing fiscal years; do you have funds next year to cover it? This scenario will result in under-spending/over- spending of your fiscal year allocation if not properly monitored. May/10 Jan/12 May/13 Jan/11 Sept/11 May/11 Sept/10 May/12 Jan/13 Sept/12 Budget $24K FY11: May/10-Apr/11 FY12: May/11-Apr/12 FY13: May/12-Apr/13 Aid Year 1011 Aid Year 1112 Aid Year 1213 … Fall201009 Summer201105 Winter201101 Fall201109 Summer201205 Winter201201 Fall201209 Winter201301 $8K $8K $8K Tip: Know if your funding source must be used by April 30th e.g. GEF/GREAT

50. Processing an Institutional Fellowship • $24,000 from Jan/12 to Dec/12 • Crossing fiscal years/Aid years; do you have funds next year to cover it? • Is it setup with a budget in the new Aid Year? • Award split ($16K and $8K) into two aid years May/10 Jan/12 May/13 Jan/11 Sept/11 May/11 Sept/10 May/12 Jan/13 Sept/12 Budget $24K FY11: May/10-Apr/11 FY12: May/11-Apr/12 FY13: May/12-Apr/13 Aid Year 1011 Aid Year 1112 Aid Year 1213 … Fall201009 Summer201105 Winter201101 Fall201109 Summer201205 Winter201201 Fall201209 Winter201301 $8K $8K $8K