1. How do I manage fund allocations?
  2. Manage Fund Allocations

Manage Fund Allocations

When you edit a fund allocation, you can update the initial fund amount, update the allocation period dates, redistribute funds and choose if funds will be available for disbursement.

When reallocating funds:
  • You can add allocation periods as necessary, but periods can't overlap.
  • You can add funds to an allocation period without requiring the reduction of future periods resulting in a total that exceeds the award year allocation. However, SFP will not allow you to save the updates until an alternate period is reduced so the total allocation for all periods is equal to or less than the award year amount.
  • SFP doesn't alert you while you're making incremental adjustments to each allocation period if the updates result in an excess of the total fund allocation for the award year. However, SFP does alert if you try to save updates and the exceeds the total fund allocation.
  • You can't redistribute funds that would result in a remaining balance that's less than the reserved amount for that configured period. For example, if the allocation amount for a specific period is $10,000 and the reserved amount for that period is $8,000, the user can redistribute the remaining $2,000. If the user try to redistribute $2,001, SFP will not allow the request to be completed.

When making adjustments to the fund allocation, you can adjust the fund amount by applying credits or debits to the initial fund amount. SFP doesn't allow funds in excess of the awarded total amount. If applicable, you can set a deposit date and payment type for any credits to the fund allocation. As credits and debits are applied, SFP provides notes in the student history and you can identify the source using an available menu of fund sources.