Kentucky State University Business Policies and Procedures Manual
Processing Student Refunds
Responsible position(s):
Bursar
Accountant
Accounts payable
Cashier
Required documents and access:
Banner
Higher One
Frequency and timing:
Weekly, describe normal refunding schedule, e.g. third week of classes, after drop/add period, etc.
Steps:
Bursar:
Accountant runs feed process from AR to Finance:
Accounts Payable:
Cashiers hold refund checks for students to pick up.
Determine credit balances after refundable aid has been posted to student accounts.
Run process to generate student refunds.
FURFEED to feed AR to Finance
FURAPAY to feed refunds to AP
Notify accounts payable when student refund invoices are ready to run checks
Process AP check cycle including refund invoices.
Upload data to Higher One for refunds
Initiate Direct Pay Request to Higher One for refunds to be paid by wire transfer.
Forward printed checks to Cashier for student pick up.
Collections from Current Students
The University works with current students who are past due.
Responsible position(s):
Bursar
Required documents and access:
Banner
Frequency and timing: