The Monthly Memo

WHEG UW PROCESSING - IMPORTANT!

The 03-04 WHEG appropriation does not provide enough funding to meet our committed awards.  Rather than cut or revoke awards, we will over-spend the appropriation this year and institutions will be reimbursed at the start of the next fiscal year. University System has given approval for financial aid offices to run deficit balances for their committed awards and in early July HEAB will reimburse those deficit amounts. Please feel free to call Connie with questions or concerns at (608) 264-6181, or by email at connie.hutchison@heab.state.wi.us.

Vouchers are normally processed on Tuesday and Friday nights. If funds are available on Tuesday night, UW voucher requests will be processed normally as 03-04 expenditures. If funds are not available, the voucher requests will be processed as 04-05 expenditures and no checks will be mailed from HEAB at this time, but will be reimbursed in July as stated above. 

REFUNDS - IMPORTANT

Spending is very tight. Please be sure to process refunds as soon as possible.
To assure quick and accurate processing of refunds, please make sure to include student name, social security number, disbursement code, school code, voucher number or academic year and semester and amount of refunds using the guidelines outlined in Chapter 10 of the Policies and Procedures Manual found on our website www.heab.state.wi.us.

PROCESSING INFORMATION

Notification lists for March will be March 2nd, 9th, 16th, and 23rd.  We will not be producing a notification list on March 30th.  

Because of anticipated budget cuts, in April we will be vouchering only once a week, which will be on Fridays.

BOARD MEETING REPORT

The Board met Friday, February 27th. The complete Board Report will be posted on the website by the end of the week. The following formulas were approved:

2004-05 WHEG UW Formula
($4,554 - EFC) X 43% = Award ($1,958 Maximum)

2004-05 WHEG Tribal Formula
($6,560-EFC) X 27.44% = Award ($1,800 Maximum)

2004-2005 WHEG Techs
The Board will reconvene soon to consider this formula.

2004-05 WTG Formula
UW Tuition - $5,183

Inflation Factors
Dependent - 264%
Single or Married Independent without Children - 706%
Single or Married Independent with Children - 853%

Base Maintenance
Dependent - $6,245
Single or Married Independent without Children - $6,245
Single or Married Independent with Children - $10,444

Maximum Award - $2,500

[Please follow this link to the February 27, 2004 Board Report.]

UPDATES

	CURRENT	THIS TIME LAST YEAR
WHEG-UW COMMITTED SPENT	130.49% 95.82%	135.51% 99.30%
**This takes into account carry-back of $2.2 million
TIP GRANT COMMITTED (2/25/04) SPENT (2/28/04)	136.07% 94.49%	133.45% 86.97%
WHEG-WTC COMMITTED SPENT	166.79% 99.92%	169.90% 100.00%
TUITION GRANT (2/25/04) COMMITTED SPENT	90.63% 93.94%	116.85% 90.09%

Questions or concerns? I truly appreciate your feedback. Please contact me:

By phone:	(608) 264-6181
By Email:	connie.hutchison@heab.state.wi.us
By SnailMail:	HEAB P.O. Box 7885 Madison, WI 53707-7885