CARES Act: Higher Education Student Aid – Guidance

UMBC Departments/Tasks

• Financial Aid / OSP – Certified [Complete]
• OSP retrieves the GAN [Complete] (GAN Project Description is inaccurate, if for Student Portion.)
• Financial Services – Create CARES Project Chartstring:
  • Restricted Fund 1263, Department 10602, Expense 051 Student Services (debates NACUBO “Telephone Townhalls and USM)
  • Grant Awards and Other: Account 7129919 “CARES Act – Student Expense”
  • Project CARESSTU
• SBS – create ITEMS in Campus Solutions to CARESSTU Project chartstring
  • 1263, 10602, 051, 7129919, CARESSTU
    
• Financial Aid – gather Docusign information from Students to pass along to SBS
• SBS transfer funds to students (Bank Mobile)
• Financial Aid – Report from REX
• OCGA Draw down funds in G5 after Students receive money
• NACUBO cannot comment until OMB and AICPA 403 – Alert are addressed related to SEFA clusters or categories.

CARES Act: Higher Education Institution Aid – Guidance

UMBC Departments/Tasks

• Financial Aid / OSP – Certified  [Complete]
• OSP retrieves the “GAN” [WAITING to see how Description appears compared to Student]
• OCGA Draw down funds.  To be determined.
• Financial Services – Create second CARES Project
  • Unrestricted Fund 1113, Department 10513 ?? , Expense Pfin 031 Public Service (input from USM / NACUBO)
  • Expense Accounts will vary
  • Account 4876319 “CARES Act Funds”
  • Project CARES020, Project Type CARES
• Financial Services  – Report from REX using GAD/USM Requirements (CARES Act funds tracking)
• AICPA 403 – Alert