Verification in Banner. Agenda  Defining Terms  Forms and processing.

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Presentation transcript:

Verification in Banner

Agenda  Defining Terms  Forms and processing

Defining Terms  Federal ‘Verification’  The process of verifying the accuracy of certain data elements the applicant submits on the FAFSA and CPS reports in the ISIR sent to the institution  Institutional ‘Verification’  The process of verifying the accuracy of any application data element that affects institutional funding expenditures to meet the applicant’s need

Defining Terms (cont.)  Required Federal verification items  Household size  Number in college  Adjusted Gross Income (AGI)  U.S. taxes paid  Certain untaxed income and benefits  SS benefits, child support, IRA/Keough deductions, foreign income exclusion, earned income credit, interest on tax-free bonds

Defining terms (cont.)  Items institutions examine as resources/ ‘indicators of wealth’ and/or hidden income  Divorce/separated?  Family business?  Trust? (Missed on FAFSA)  Home equity?

Verification in Banner  Banner functionality is configured to fulfill federal verification requirements, but also lends itself to institutional verification requirements  Need Analysis Document Verification Form: RNAVRxx  Also useful: RNANAxx, RNAPRxx, RNASUxx, RNARSLT, RNARSLT, RNAOVxx, RNINAIQ, RNIMSxx  Report: RNRVRFY (Federal requirements)  Identifies discrepancies and optionally updates FAFSA information

Federal Verification: RNAVRxx Checking boxes enables updating of respective fields in application record (on RNANAxx) when RNRVRFY is run with update parameter set to ‘Y’ Need Analysis Document Verification Form* * Second window: Parent Information Scroll: B, C Worksheet fields ‘EDE Correction’ from ROAINST

Federal Verification: RNRVRFY  Verification Discrepancy Report prints discrepancies between verification documents and application data.  Option: Update the application with verification data

RNRVRFY (cont.) Report Output

Institutional: RNASUxx Need Analysis Supplemental Form Divorced or separated

Institutional: RNASUxx (cont.) Divorced or separated Trust

Institutional: RNAPRxx Asset window Home equity

Institutional: RNAPRxx (cont.) Assets (cont.) Business or farm value