Budget Reporting - MAP, IVG & ING

There are two types of Budget Packets depending on the program participation. The Gift Assistance Budget Packet allows colleges participating in the Monetary Award Program (MAP), Illinois Veteran Grant (IVG), and the Illinois National Guard (ING) Grant Programs to enter their budget information on one form. Colleges that participate only in MAP will complete the Monetary Award Program (MAP) Budget Packet.

Only one of the budget packet types must be completed and is due to ISAC on or before June 1, preceding the academic year. Review the Gift Assistance Budget Packet Instructions and the MAP Budget Packet Instructions before completing either budget packet.

Tuition and/or Fee Amounts Finalized after June 1st

Under 2700.30 (e) of the ISAC Rules, any tuition and/or mandatory fee increases reported after June 1st would not be utilized in the calculation of gift assistance benefits for the coming academic year. The rules do not specify, but it is normally assumed, that such increases in tuition and/or fees would have been approved by the institution’s governing board prior to the submission of this data to ISAC.

If this is not the case, the Budget Packet should be completed with anticipated tuition and/or fee amounts. A written explanation from the Financial Aid Director stating that the institution’s governing board has not finalized budget figures must accompany the Budget Packet. If the tuition and fee increases (including Out-of-District rates) are not adopted at the amounts reported in the Budget Packet submitted by June 1st, the Financial Aid Director must contact ISAC (schoolservices@isac.org) with accurate figures no later than August 1, 2010.

A letter of explanation from the Financial Aid Director should also accompany the Budget Packet if a mid-year tuition and/or fee increase is anticipated.

Use of MAP Data Reported

Tuition and mandatory fee information is gathered through this process on or before each June 1st for the upcoming academic year. During the MAP recompute process, which is typically in the summer of each year, any changes to the MAP formula, as well as adjustments to the institution’s tuition and mandatory fee figures, may be incorporated depending on the final state appropriation for the program. (For the 2010-11 academic year, the MAP start-up formula is using the 2003-04 reported tuition and fees.) The reported tuition and fee information, as well as the term start and end dates, room and board charges and contact information, may be used by other ISAC programs and/or for research purposes within ISAC.