PA Staff 1SRF Funding Process BACKUP

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Legend

Goals for an Ideal Process

More information provided at the time of application (EID, Facility Plan, Plans/Specs, etc.)
Program requires the same documentation every time, with every application from repeat borrowers.
Less waiting for information
More parallel processes
The more that can be done upfront the better
Getting on the PPL early on in the process - this takes a long time for projects to get on the list and seems to be overly complex. Sometimes takes projects 6 months to a year to get on the list.

Rocks in the road

Application doesn't ask for enough info
Was changed because Commisison thought it was too long onerous
Paper files volume could be significantly reduced as a result of too much duplication
PPL this takes a long time for projects to get on the list and seems to be overly complex. Sometimes takes projects 6 months to a year to get on the list.

Systems Issue

Idea

Rocks in the Road

Regulatory Requirement

Handling/Processing

Value Add

PA Staff 1 SRF Funding Process

6. Disbursement & Project Management

Loan Repayment & Servicing

Project Closeout

PA enters date on tracking sheet for project closing

PA prepares change in funding form if there are funds remaining and verify accuracy (2.5 hours)

If >10% of original bond amount remains, triggers a bond swap

Not the usual circumstance; triggers another process, but the need for this process is rare.

PA writes letter to owner informing them about the deobligation of funds (0.50)

Section Manager signs and returns to PA with cc to PA Supervisor (Darla) (.10

PS Supervisor sends to Section Manager (Mark Bennett) 0.10

PS Supervisor review, approves, signs (2 hours)

Financial Analyst sends to Program Support supervisor (Debby) 0.10

Financial Analyst reviews, approves and signs (2 hours)

Engineering supervisor sends to financial analyst for signature 0.10

Engineering supervisor reviews, approves, and signs (2 hours)

Engineer sends form to engineering supervisor 0.10

Engineer review, approves and signs (2 hours)

PA Supervisor sends to engineering 0.10

PA Supervisor reviews, approves and signs (1 hour)

PA sends to PA Supervisor 0.10

PA signs form 0.10

Process of signing the change in funding form takes about 12 hours to travel through the entire chain

PA review the final statement and compare against spreadsheet (.10 hours)

Owner submits final bank statement and closes account (8 hours)

PA prepare letter requesting final bank statement (0.10 hours)

Final bank statement should be submitted once check for final payment has cleared. PA may include request for final statement via final approval letter or verbal request at final inspection

Sometimes a reminder to the Owner may be required in order to receive final bank statement. We want it after the final payment has cleared, so it may be 30-60 days after final inspection. Can delay actual project closeout...

Martha sends the request to ADFA (XXX?

PA sends fund request to Martha 0.10

PA sends to PA Supervisor for review and approval (8 hours)

PA sends to engineer for review and approval (0.10)

PA reviews packet and approves final disbursement (2.5 hours)

PA conducts onsite final inspection (8 hours)

Contractor shares final documentation with PA (80 hours)

Review original loan terms and amortization schedule, depreciation reserve (0.50)

PA reviews budget to verify final payment amount on budget tracking spreadsheet and identify any remaining funds (0.10)

PA review final inspection checklist (0.50)

PA sends package of instructions 30 days prior to completing construction using boilerplat final inspection checklist (0.10)

Here is what I have to say about that

Funds Issued to Borrower

Change Orders

Disbursement Request Review & Approval

PA emails borrower with copy of RLF76, letter, and backup documentation (0.15)

PA saves PDF of Darla's approval 0.10

Darla reviews package and approves via email (0.15)

PA emails package to Darla

PA prepares portfolio of request correspondence and signed disbursement request 0.50 hours

PA drafts payment authorization letter to borrower (0.50)

PA initials payment journal and PDFs

Cross-reference spreadsheet and payment journal for accuracy (0.10)

Wait to receive scan of payment journal from Martha/Cynthia (2 hours)

PA emails Marhta & Cynthis to order funds

PA reviews and approves the request (1 hour)

PA makes another PDF of spreadsheet with new changes (0.10)

PA finalizes entry to project funding spreadsheet if there are disallowed costs based on lack of documentation (0.10)

PA receives request with engineer's signature and approval

PA waits for engineer to review the request (8 hours)

PA emials request to project engineer including PDF of funding spreadsheet (0.10)

PA saves PDF of spreadsheet

PA makes draft entry to project funding spreadsheet and verify information on RLF 76 form is correct (.15)

Borrower submits missing documentation or signatures to PA (4 hours)

Email borrower to collect any missing documentation 0.10

Verify necessary documentation has been provided in request (0.50)

Open project spreadsheet and verify funds available to satisfy request (0.10)

PA receives PDF of disbursement request and saves (0.10)

Use a nomenclature on file saving to differentiate requests--best practice (Disbursement # Loan # Owner Name)

Used to get six copies of each document under the old paper-based method

4 people 5 handoffs 3 approvals

Change order can often be concurrent with disbursement request

Disbursement Requests Submitted

PA files submission email in Outlook folder (0.10)

PA sends email reminders for requests to borrowers who haven't yet submitted (0.10)

Sometimes PA does this individually; sometimes in batches