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University policy dictates all departments
generate sale receipts in advance or at the time of sale. It is recognized
that certain departments process transactions that do not allow for receipt
of funds at point of sale and must maintain adequate records to fully
substantiate the charges owed to the University by individuals or firms.
The receipts or records
must include:
· Name
· Student ID number (for
KU students)
· Last four digits of the
social security number or taxpayer ID number
· Amount
· Type; and
· Date the charge was
incurred
In addition, the department must keep a
control sheet showing the total amount outstanding and post all new charges,
payments, or adjustments to the control sheet daily.
The detailed records are to be reconciled
monthly to the control totals. Any differences are to be investigated and any
necessary adjustments fully documented. An aging of the reconciled accounts
is to be prepared as of the last day of each month with the following
categories: 0-30 days, 31-60 days, 61-90 days, and 91-120 days.
A report summarizing
the monthly control totals and the account aging is to be forwarded to the
Comptroller's Office within 5 days after the end of the month. A sample of
the approved form to be used by departments when reporting accounts
receivable to the Comptroller's Office is included in the On-line Business
Procedures Guide forms packet. If a department would like to request a
different format, prior approval must be obtained from the University
Comptroller.
If a department is
having difficulty in collecting debts, or does not wish to collect the debts,
they may request that the Bursar's Office bill and collect the charge(s) on
behalf of the department (except Parking & Transportation). The Bursar's
Office should receive these charges within four months from the original
sale/service date. The Student Financials System accepts students (past and
present), faculty, staff, and non-university accounts with a social security
number (provided by the department) or non-university accounts without a
social security number. The Bursar's Office will bill and attempt to collect
the debt first then will send the debt to collection agencies as needed. In
the event the debt is uncollectible, the debt will be written-off after five
years. The department must retain back-up documentation for the debt. Reports
will be sent to the department when the charge is paid or has been written
off.
To turn accounts over
to the Bursar's Office for further collections, the department should send a
list containing: name, amount of charge, student ID number and/or social
security number, address, and department income number (org, fund, account
code) to be credited. If the debtor does not have an ID or SSN, please enter
"No ID/SSN found".
Payments collected are
credited to the income account set by the department. If no payment or
response is received from the billings, the account is reviewed for referral
to a commercial collection agency and to either the Kansas Department of
Administration Setoff Program or the Board of Regents Setoff. The State
Setoff Program will initiate procedures to match the debts against state
warrants issued to the debtor. Debtor accounts for current University
employees are referred to Regents Setoff instead of to the State Setoff
Program. Debts are then deducted from employee pay. If the collection agency
or the State Setoff Program is able to collect the debt, the University
department's account is credited with the amount of collection and charged
with a collection fee for the services of the agency.
Management reports are
made available to the departments that use the Student Financials System for
record keeping on these accounts. These reports are generated daily for those
accounts with activity. Departments may be charged a portion of the cost of
operating the Student Financials System if use contributes significantly to
the cost of operating the system. Once an account is turned over to Bursar's
Office for collection, the department should no longer include these amounts
in their monthly summary report totals on accounts receivables.
Departments are allowed
to make adjustments to an account if necessary documentation is submitted to
the Bursar’s Office including: date, reason, amount, department name,
department income account number, and name of the person authorizing the
adjustment. Adjustments to approved departmental deposits are submitted via
the Departmental Deposit System using a Correction style deposit. Payments
are not to be considered as adjustments.
A department may not
write-off any accounts receivable without first sending charges to the
Bursar's Office for collection. The request to write-off accounts will be
submitted by the Bursar's Office when the debt is five years old, there has
been no activity in the account for five years, and the debtor is not
enrolled at The University of Kansas. The department must keep back up
documentation for five years after the write off accounts are accepted by the
State (approximately June of each year). For additional information, contact
the Bursar's Office at 864-3322.
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