Admin

Scholarship Procedures

Any scholarship money donated to schools or departments must be receipted and deposited into a specified fund 865 activity code.  Scholarship money may not be earmarked for a specific student prior to award.

If the scholarship does not already have a fund 865 activity code, the bookkeeper will need to create one with the help of the accounting department.  The bookkeeper will work directly with the College Now campus office to determine which fund 865 activity codes will be assigned to specific scholarships.

If more than one donor gives money to schools or departments for scholarships, a fund 865 activity code will need to be created for each individual scholarship.  Examples of these are 865.01.XXX.SCHL, 865.02.XXX.SCHL, etc.

School administrators (i.e. principal, College Now coordinator, senior counselor) will work with the donor to determine the criteria for the specified scholarship.

Once criteria for the scholarship is established, the campus will be responsible for the entire application and awarding process.  Campuses will develop an application if needed, publicize the scholarship, accept applications, establish a selection committee, and determine award recipients.

If no application is available, the campus will develop an application specific to the scholarship criteria.  The application should include a minimum of student information, extracurricular involvement, essay, transcript, and letter of recommendation.

The College Now campus office will be responsible for keeping a ledger of transactions related to all awarded scholarships (with the exception of club related scholarships).  This will include monitoring the balance of all fund 865 scholarship activity codes (865.XX.XXX.SCHL) and ensuring that correct amounts are awarded to students appropriately.

The College Now campus office will send an award letter to the student requesting the name and address of the institution of higher education (IHE) the student will attend, the student’s IHE ID number, and the specific office at the IHE where the scholarship check will be mailed.  The award letter will indicate that the student has until the end of the summer semester in the year following his/her high school graduation to utilize the scholarship funds or they will be forfeited.

The College Now campus office will send to the campus bookkeeper a copy of the award letter indicating the student’s name, scholarship name, scholarship amount, and fund 865 activity code to be used.  Documentation of student’s IHE ID number and IHE name and address where the check will be mailed will also be submitted.

All Scholarship checks must be issued by the Business Office by submitting a Non- Standard with all back up documentation for payment.  Checks will be paid directly to the IHE the student will attend.  Requisitions must contain special instructions for check to be either sent via certified mail or sent back to the campus, depending upon the circumstance of the payment. 

Non-standards for Scholarship checks will be an exception to the over $500 purchasing guidelines.  Fund 865 activity code scholarships do not need to meet fund 865 club requirements.

Any unused miscellaneous scholarship funds will be journalized or undesignated donated scholarship funds will be deposited into fund 865.99.XXX.SCHL.  Distribution of scholarship funds from fund 865.99.XXX.SCHL will be at the discretion of the campus.  Campus may determine criteria and amount of scholarships distributed from this activity code.

In the event funds are not used and are returned to the school district they will be deposited into the original activity code used to distribute the funds.  Campus bookkeeper will notify College Now staff of any returned funds.  Student will be responsible for notifying the campus of any changes in enrollment that would require the funds to be send to a different IHE than was originally indicated.  If the one year deadline has passed and the student has forfeited the funds, they will be awarded to another student during the next scholarship process.

Any campus clubs that have scholarships will set their own criteria for awarding funds.  Club sponsor will work directly with the campus bookkeeper and provide all documentation needed to distribute funds including a copy of the award letter indicating the student’s name, scholarship name, scholarship amount, fund 865 activity code to be used, and a copy of the club minutes that indicate the scholarship awarded.  Documentation of student’s IHE ID number and IHE name and address where the check will be mailed will also be submitted.  Clubs will also be responsible for keeping a ledger of transactions related to all awarded scholarships.