The amount placed into Decrease Net Draws will increase the Available Balance for that Award once approved.
This means that the total of the Decrease Net Draws must be the same as the total of the Increase Net Draws.ĭo not put in negative numbers in the Increase/Decrease Net Draws fields. Step 4įor an Adjustment, the net effect of the increases and decreases must equal zero. You cannot go below a zero Available Balance nor increase your Net Authorization above its awarded amount. Conversely, if the Net Draws is $0 then the Decrease Net Draws will be grayed out. Note that the Increase Net Draws or Decrease Net Draws fields may be grayed out due to available balances, invalid or missing bank account information or specific award status (such as Stop Payment, Suspension, etc.).įor example, if the Available Balance for an award is $0, then the Increase Net Draws will be grayed out. You can use the Filter By fields to search for awards of a specific fiscal year and/or award type.Ĭlick the Continue button to view the specified awards. Warning : The award for which you are increasing the net draw amount must have available funds that equal to or greater than the amount being requested in order to increase the net draw amount.Ĭlick the Create Adjustments menu item to go to the Create Adjustments screen. The adjustment may be applied across multiple awards, yet this procedure demonstrates decreasing the net draw amount from one award and increasing the net draw amount to a second award.
#LOAN DRAWDOWN PROCESS HOW TO#
In this topic, you will learn how to process a drawdown adjustment from one award to another which applies to both Direct Loan and Non-Direct Loan awards. Enter Drawdown Adjustments Enter Drawdown Adjustments
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