Does your unit utilize any Banner C-FOPs where the assigned program code has a NACUBO function designated for financial aid payments to students, such as scholarships (1787), fellowships (1788), or student prizes & awards (1789)?
If you’re not sure, remember that Banner page FZMPROG can be used to see the NACUBO function assigned to the program code which your C-FOP is utilizing.
Once you’ve confirmed that the program code you are using does in fact roll up to one of these aforementioned financial aid NACUBO functions, then it’s important to monitor those C-FOPs to ensure they are being used appropriately. This helps ensure proper financial reporting and tax treatment of the related financial aid payments. See below for guidance:
- Any C-FOP utilizing a program code designated with a Scholarships (1787) NACUBO function should typically only have expenses posting to the 181100 – Scholarships expense account code.
- Any C-FOP utilizing a program code designated with a Fellowships – Graduate Students (1788) NACUBO function should typically only have expenses posting to either the 181300 (Fellowships – Non-Stipend) expense account code or the 281300 (Fellowships – Stipend) expense account code.
- Any C-FOP utilizing a program code designated with a Student Prizes & Awards (1789) NACUBO function should typically only have expenses posting to the 181700 (Student Prizes & Awards) expense account code.
- However, if the scholarship, fellowship, or student prize & award recipient was a foreign national non-resident alien, then those types of payments should be posting to the 281400 (Financial Aid – Foreign National Non-Resident Alien Students) expense account code.
Contact
For further details, contact the applicable subject matter experts within the Program Codes or NACUBO Functions section of UAFR’s Who to Ask list.
