1Overview of Fund Allocation

Oracle Fusion Student Financial Planning (SFP) enables institutions to create a fund allocation schedule to automatically reserve and release specific fund types over the course of the award year.

You can use the application configuration of a fund allocation for fund types awarded within the application on an award year/non-award year basis to limit awarding to the amount allocated within the fund. The application allows the fund to be allocated to configured periods. You can update the amounts within these periods to manage/ensure that funds can be reasonably available throughout the award year. The application also displays relevant fund calculations and you can enter adjustments as the amount of resources changes.

Here's what SFP automatically does:

• Reserves funds from the fund allocation

  Once the allocation periods and the amounts per period are established, the application automatically reserves funds for eligible students within the appropriate period. Reserved funds include estimated and awarded funds for eligible students. If a reserved amount associated with an allocation period is updated, the application automatically updates the reserved column.

• Releases awards from the fund allocation

  SFP releases funds and calculates the remaining amount available for the allocation period. The application tallies the number of students awarded the fund source and calculates the total amount reserved, released, disbursed, and remaining. The application releases any reserved amounts for a student when the award year associated with the reserved payment period has been updated and when the students planned disbursements in the payment period are less than the reserved amount.

• Repackages student when an allocation period is updated

  If you update any allocation period(s) the application automatically evaluates each student's awards when they're being re-packaged and will include or update the fund type if the student is eligible to receive the fund type. The application also repackages any student eligibility changes, resulting in the student becoming eligible or ineligible for the fund source, and immediately recalculates the reserved, released, disbursed and remaining amounts.

  Any time a student is repackaged, the application automatically evaluates the student record being re-packaged and updates or includes the fund type if funds are or have become available since the last time the student was packaged.

• Repackages when allocation period are fully reserved

  The application completes a re-package for all students with reserved amounts within an allocation period when there's no remaining eligibility is available within the allocation period. The application doesn't allow funds to be reserved or disbursed until an award year allocation schedule has been set up.

• Mass import or update of fund allocation

  The FasFundAllocationConfigEvent message lets you create and update the fund allocation configuration for any fund code configured to require a fund allocation. The message allows all create and update functions available on the Fund Allocation FAS UI page. You can submit a message to update the fund allocation configurations for multiple funds or fund allocation periods within a single MPG event. Within the message, you can define the total fund amount per fund, set allocated amounts and whether the fund can be disbursed for a defined period of time.
  Note:

  • The event message must adhere to existing validation rules enforced in the Fund Allocation management UI, otherwise, the event will not be processed.
  • Validation errors are displayed on the Application Event error report.

• Configure the award year allocation schedule

  You can configure the periods in which to allocate the fund throughout the award year. To set up the allocation schedule, you must create at least one period to allocate funds. You can then create more periods, set the maximum amount to allocate per period and decide if the period should be ready for disbursement.