Notifying school about scholarships

Recently, I received a scholarship to use toward my second semester expenses. My university has the policy that students notify them about all outside tuition assistance, as is the case with many other schools. Should I notify my school before the year begins or directly before second semester? Also, how should I compose this letter/is there a template available for this type of correspondence?

Thanks!

When you get to school ask the FA office how they would like the info and if they have an example of what’s needed.