Fiscal Operations Manual
Section 500: Financial Accounting and Analysis
WARNING: THESE ARE NOT CURRENT POLICIES!!
All distributions (scholarships, fellowships or awards) to enrolled students shall be made through the OSU Business Office and coordinated with the OSU Financial Aid Office to ensure that a student’s eligibility for other financial aid or awards is not jeopardized.
For scholarships, the Scholarship-Fellowship-Award Payment Authorization form is completed by the department identifying the foundation account that will fund the awards and the individual student recipients. The Payment Authorization Form is forwarded to the OSU Foundation which verifies that there are funds to make the requested payments. After OSUF’s funding verification, the form is forwarded to OSU Office of Financial Aid and Scholarships for verification of the student’s enrollment and eligibility. Once verified by OSU Financial Aid, the scholarship payment is posted to the student’s OSU account.
These payments will be recorded on FSxxxx indexes when funding is from the OSU Foundation. All scholarships must be on FSxxxx indexes with program code of 82001 Scholarships & Fellowships. Only expenses applicable to account codes 51xxx and 52xxx should be debited to these FS indexes.
At a minimum, scholarship funds should be reconciled with the Financial Aid Office and OSUF on a quarterly basis. The Scholarships-Fellowship-Awards Payment Authorization form is located at the OSUF website.