Fiscal Operations Report for 2019-2020 and Application to Participate 2021-2022 (FISAP) and Reallocation Form

ICR 201912-1845-005

OMB: 1845-0030

Federal Form Document

ICR Details
1845-0030 201912-1845-005
Historical Active 201902-1845-004
ED/FSA
Fiscal Operations Report for 2019-2020 and Application to Participate 2021-2022 (FISAP) and Reallocation Form
Revision of a currently approved collection   No
Regular
Approved without change 05/27/2020
Retrieve Notice of Action (NOA) 02/24/2020
  Inventory as of this Action Requested Previously Approved
05/31/2023 36 Months From Approved 07/31/2022
3,893 0 3,962
89,846 0 91,348
0 0 0

The Higher Education Opportunity Act (HEOA) (P.L. 110-315) was enacted on August 14, 2008 and reauthorized the Higher Education Act of 1965, as amended, (HEA). It requires participating Title IV institutions to apply for funds and report expenditures for the Federal Perkins Loan (Perkins), the Federal Supplemental Educational Opportunity Grant (FSEOG) and the Federal Work-Study (FWS) Programs on an annual basis. The data submitted electronically in the Fiscal Operations Report and Application to Participate (FISAP) is used by the Department of Education to determine the institution’s funding need for the award year and monitor program effectiveness and accountability of fund expenditures. The data is used in conjunction with institutional program reviews to assess the administrative capability and compliance of the applicant. There are no other resources for collecting this data. The HEA requires that if an institution anticipates not using all of its allocated funds for the FWS, and FSEOG programs by the end of an award year, it must specify the anticipated remaining unused amount to the Secretary, who reduces the institution’s allocation accordingly. The changes to the version of the FISAP are to update the deadline and award year references, incorporate new data fields added to capture cumulative service cancellation reimbursement activity beginning in the 2019-20 award year under the Perkins Loan Program.

US Code: 20 USC 1087b Name of Law: Higher Education Act of 1965, as amended
  
None

Not associated with rulemaking

  84 FR 69367 12/18/2019
85 FR 10424 02/24/2020
No

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 3,893 3,962 0 -69 0 0
Annual Time Burden (Hours) 89,846 91,348 0 -1,502 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
Yes
Miscellaneous Actions
The HEA requires that if an institution anticipates not using all of its allocated funds for the FWS, and FSEOG programs by the end of an award year, it must specify the anticipated remaining unused amount to the Secretary, who reduces the institution’s allocation accordingly. The total annual reporting and record keeping hour burden decreases to 89,846 hours for 3,893 respondents from the previous 91,348 for 3,962 respondents.

$1,570,069
No
    No
    No
No
No
No
No
Beth Grebeldinger 202 708-8242

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
02/24/2020


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