February 1, 2021
In a Nov. 18, 2020 Electronic Announcement we published general information regarding Title IV Aid Disbursement Reporting, Excess Cash, and Reconciliation Requirements. In addition, updated disbursement reporting and data submission timelines for all programs were published in a recent Federal Register Notice (see Federal Register Volume 85, Number 135 (Tuesday, July 14, 2020) for the 2020–2021 deadlines).
In this announcement, we provide specific information to assist your school in reconciling the Federal Pell Grant (Pell Grant) Program. Both the Financial Aid Office and Business Office should review the information provided below.
Pell Grant Reconciliation Defined
Pell Grant Reconciliation is the process by which a school reviews and compares Pell Grant data recorded on the Department of Education’s (the Department’s) systems with the information in the school’s internal records. This process should be performed on a regular basis and is recommended at least monthly.
There are two types of reconciliation, Internal and External.