ABUSF 115


Number:

ABUSF 115

Section:

Finance & Administration

Subject:

Accounts Receivable/Allowance for Doubtful Accounts/Write Offs

Date:

March 19, 2008

Issued by:

Vice Chancellor for Finance & Administration/CFO

Authorized by:

Vice Chancellor for Finance & Administration/CFO

 I. Policy

The campus (housing and general) allowances for doubtful accounts are reviewed annually by the Directors of Housing and Business Services and the Vice Chancellor for Business and Finance and may be adjusted based upon actual experience or anticipated losses. An allowance is established for housing separately from the general allowance for all other campus activities.

II. Procedure

All campus receivables are aged at least annually. Based upon this aging, accounts may be written off using the guidelines for write offs below:

DESCRIPTION

OLDER THAN

OFF SET

Tuition Fee Payment Agreements _ No Housing or Meal Plan

1 Year

Campus Allowance

Tuition Fee Payment Agreements _With Housing or Meal Plan

1 Year

Allocated between Housing  and Campus Allowances

Tuition / Fees

1 Year

Campus Allowance

Returned Checks _ Tuition and Fees

1 Year

Campus Allowance

Returned Checks- Bookstore

1 Year

Bookstore ( Expense)

Returned Checks _ Application Fees

1 Year

Application Fees ( Current Year Revenue)

Returned Checks _ Housing

1 Year

Housing Allowance

Financial Aid _ Campus

2 Years

Campus Allowance

Financial Aid _ Federal

2 Years

Campus Allowance

Financial Aid - State

2 Years

Campus Allowance

Financial Aid Advances

1 Year

Campus Allowance

Bookstore

1 Year

Bookstore ( Expense)

Other Campus Activities

1 Year

Campus Allowance

Parking Tickets

1 Year

Campus Allowance

The determined ADA adjustment and any current year write offs are submitted to the University Bursar for approval. 

Accounts including several categories (e.g. Tuition, Financial Aid and Parking), will be written off using guidelines for the longer period before write off.  (E.g. Account with Tuition, Financial Aid and Parking may be written off after two years)

Documentation for accounts written off is retained for at least seven years. Account Records are noted with the write off date.