Executive Director's Report - Illinois Student Assistance Commission

ILLINOIS STUDENT ASSISTANCE COMMISSION
FISCAL YEAR 2004 APPROPRIATION SUMMARY REPORT
(July 1, 2003 - August 31, 2003)
FY2004
Appropriation
Year-to-date
Expended
Number of
Recipients
Percentage
Expended
STATE GENERAL FUNDS
SCHOLARSHIPS AND GRANTS
Monetary Award Program* $338,699,800 $0 0 0.0%
Illinois Incentive for Access Grants 7,200,000 0 0 0.0%
Teacher Loan Forgiveness Program 2,700,000 21,448 2 0.8%
Minority Teacher Scholarships 3,100,000 0 0 0.0%
ITEACH Teacher Shortage Scholarships 2,900,000 0 0 0.0%
Illinois Future Teachers Corps Scholarship 4,100,000 0 0 0.0%
Student to Student Grants 950,000 0 0 0.0%
Dependents Grants 275,000 0 0 0.0%
National Guard Grants 4,500,000 0 0 0.0%
Illinois Veteran Grants 19,250,000 0 0 0.0%
Bonus Incentive Grants 650,000 0 0 0.0%
Merit Recognition Scholarships 5,400,000 0 0 0.0%
Illinois Scholars Program 2,914,300 2,914,300 N/A 100.0%
TOTAL $392,639,100 $2,935,748 2 0.7%
ADMINISTRATION AND OUTREACH
Administration (see detail on next page) 5,465,800 682,915 N/A 12.5%
Adult Learner Outreach 150,000 53 N/A 0.0%
Higher EdNet Clearinghouse 10,000 0 N/A 0.0%
Federal Cost Allocation Requirement 100,000 0 N/A 0.0%
TOTAL $5,725,800 $682,968 N/A 11.9%
TOTAL, STATE GENERAL FUNDS $398,364,900 $3,618,716 N/A 0.9%
SPECIAL REVENUE FUNDS
STUDENT LOAN OPERATING FUND
Administration Expense (see detail on next page) 58,619,800 3,502,255 N/A 6.0%
Fed Loan System Development & Maint. 5,000,000 47,145 N/A 0.9%
Working Capital Transfer 13,000,000 11,000,000 N/A 84.6%
Enhance Outreach Awareness 162,500 0 N/A 0.0%
E-Learning Initiative 250,000 0 N/A 0.0%
TOTAL $77,032,300 $14,549,400 N/A 18.9%
FEDERAL STUDENT LOAN FUND
Loan Guarantee Program 220,000,000 9,422,839 N/A 4.3%
Federal Reserve Recall 4,000,000 2,987,409 N/A 74.7%
Default Aversion Activities 1,300,000 50,120 N/A 3.9%
TOTAL $225,300,000 $12,460,368 N/A 5.5%
SCHOLARSHIPS AND GRANTS
Federal LEAP/SLEAP- Monetary Award Program * 3,700,000 0 0 0.0%
Transfer to ED -Paul Douglas Fund Collected 400,000 0 0 0.0%
Federal Robert C. Byrd Fellowships 1,800,000 0 0 0.0%
TOTAL $5,900,000 $0 0 0.0%
OTHER
ISAC Accounts Receivables 300,000 10,321 N/A 3.4%
Higher Education License Plate Program 70,000 0 N/A 0.0%
Optometric Education Scholarship Program 50,000 0 0 0.0%
Illinois Future Teachers Corps Scholarship 50,000 0 0 0.0%
Contracts and Grants Fund 50,000 0 0 0.0%
TOTAL, SPECIAL REVENUE FUNDS $308,752,300 $27,020,089 8.8%
GRAND TOTAL $707,117,200 $30,638,805 2 4.3%
* Monetary Award Program Total, All Funds $345,099,800 $0 0 0.00%