Executive Director's Report - Illinois Student Assistance Commission
Executive Director's Report - Illinois Student Assistance Commission
Executive Director's Report - Illinois Student Assistance Commission
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ILLINOIS STUDENT ASSISTANCE COMMISSION<br />
FISCAL YEAR 2003 APPROPRIATION SUMMARY REPORT<br />
(July 1, 2002 - August 31, 2003)<br />
FY2003<br />
Appropriation<br />
Year-to-date<br />
Expended<br />
Number of<br />
Recipients<br />
Percentage<br />
Expended<br />
STATE GENERAL FUNDS<br />
SCHOLARSHIPS AND GRANTS<br />
Monetary Award Program* $329,522,800 $329,253,619 132,025 99.9%<br />
MAP Reserve Fund * 6,677,000 2,370,160 N/A 35.5%<br />
Minority Teacher Scholarships 3,100,000 2,275,467 493 73.4%<br />
<strong>Student</strong> to <strong>Student</strong> Grants 950,000 949,999 4,428 100.0%<br />
Dependents Grants 275,000 251,965 64 91.6%<br />
National Guard Grants 4,500,000 4,473,796 2,132 99.4%<br />
<strong>Illinois</strong> Veteran Grants 19,250,000 19,239,390 12,164 99.9%<br />
Bonus Incentive Grants 650,000 645,540 1,440 99.3%<br />
ITEACH Teacher Shortage Scholarships 2,900,000 2,585,802 543 89.2%<br />
<strong>Illinois</strong> Incentive for Access Grants 7,200,000 7,097,500 18,429 98.6%<br />
Merit Recognition Scholarships 5,400,000 5,369,750 5,492 99.4%<br />
Teacher Loan Forgiveness Program 2,700,000 169,076 29 6.3%<br />
TOTAL $383,124,800 $374,682,064 177,239 97.8%<br />
ADMINISTRATION AND OUTREACH<br />
Administration (see detail on next page) 6,109,200 5,460,156 N/A 89.4%<br />
Adult Learner Outreach 150,000 131,814 N/A 87.9%<br />
Higher EdNet Clearinghouse 65,000 55,227 N/A 85.0%<br />
Federal Cost Allocation Requirement 75,000 74,936 N/A 99.9%<br />
TOTAL $6,399,200 $5,722,134 N/A 89.4%<br />
TOTAL, STATE GENERAL FUNDS $389,524,000 $380,404,198 N/A 97.7%<br />
SPECIAL REVENUE FUNDS<br />
STUDENT LOAN OPERATING FUND<br />
Administration Expense (see detail on next page) 57,656,600 27,984,214 N/A 48.5%<br />
Fed Loan System Development & Maint. 5,000,000 4,600,692 N/A 92.0%<br />
Working Capital Transfer 13,000,000 2,000,000 N/A 15.4%<br />
TOTAL $75,656,600 $34,584,906 N/A 45.7%<br />
FEDERAL STUDENT LOAN FUND<br />
Loan Guarantee Program 190,000,000 132,747,768 N/A 69.9%<br />
Federal Reserve Recall 20,000,000 20,000,000 N/A 100.0%<br />
Default Aversion Activities 1,500,000 336,603 N/A 22.4%<br />
TOTAL $211,500,000 $153,084,371 N/A 72.4%<br />
SCHOLARSHIPS AND GRANTS<br />
Federal LEAP/SLEAP-Monetary Award Prog * 3,700,000 3,662,070 N/A 99.0%<br />
Federal Robert C. Byrd Fellowships 1,800,000 1,608,063 1,091 89.3%<br />
TOTAL $5,500,000 $5,270,133 1,091 95.8%<br />
OTHER<br />
ISAC Accounts Receivables 300,000 84,210 N/A 28.1%<br />
Higher Education License Plate Program 70,000 52,325 N/A 74.8%<br />
TOTAL, SPECIAL REVENUE FUNDS $293,026,600 $193,075,944 65.9%<br />
GRAND TOTAL $682,550,600 $573,480,142 178,330 84.0%<br />
* Monetary Award Program Total, All Funds $339,899,800 $335,285,848 132,025 98.64%
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