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Financial Management Services

Grants, Loans, and Foreign Payment Services

Grants

ARC provides timely and accurate grant processing services to our customers. Grant processing services include, but are not limited to the following:

  • Create and maintain customer records in Oracle
  • Examine grant agreements, accruals, and payment requests for completeness
  • Process/reconcile files from customer grant systems in Oracle
  • Perform independent review and approval of supplier invoices ≥ $2,500
  • Record manual obligations and expense accruals in Oracle
  • Record grant receivable amounts due from external customers or other non-employee sources in Oracle
  • Process grant receivable adjustments or write-offs in Oracle
  • Receive grant payments and record collections in Oracle

Performance Metrics

Metric

Measurement

Standard / Target

Grants

Percentage of proper payments, excluding customer errors

99.5%


Loans

ARC processes loan accounting transactions in Oracle to accurately maintain customer accounts. Loan processing services include, but are not limited to the following:

  • Examine loan agreements and payment requests for completeness
  • Record manual subsidy and loan obligations
  • Process loan disbursements and/or claim payments
  • Perform independent review and approval of loan disbursements ≥ $2,500
  • Create and maintain loan customer records
  • Process/reconcile files from customer loan systems
  • Record loan receivable amounts due from external customer or other non-employee sources
  • Receive and process principal and interest collections
  • Process loan receivable adjustments or write-offs
  • Receive and record Non-Expenditures Transfers
  • Receive and record memorandum general ledger accounts for loan guarantees, if applicable
  • Receive subsidy re-estimates and record
  • Receive year-end interest calculations transactions and record
  • Receive and record activity related to foreclosures, if applicable
  • Record fees associated with loans

Performance Metrics

Metric

Measurement

Standard / Target

Loans

Percentage of proper payments, excluding customer errors

99.5%


Miscellaneous, Foreign, Personal Service Contractors (PSC)

ARC processes miscellaneous, foreign, and personal service contractor payments. These services include, but are not limited to the following:

  • Receive foreign payment/PSC requests and examine for completeness and process in Oracle
  • Send proper invoices for review and approval to the Invoice Official
  • Perform independent review and approval of invoices ≥ $2,500
  • Record manual obligations and expense accruals in Oracle

Performance Metrics

Metric

Measurement

Standard / Target

Miscellaneous, Foreign, PSC

Percentage of proper payments, excluding customer errors

99.5%


Learn About:

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ARC Communications Mailbox

Assistance for Current Customers
304-480-8000
arcsupportdesk@fiscal.treasury.gov