Run billing statements for each third-party payer.
Send notification to third-party customers with statements and required supporting documentation.
Run AR aging report of third-party customers monthly.
Contact all third-party payers with past due accounts by phone, email, mail to determine if there are any issues preventing payment that need to be resolved.
Contact the student for any outside scholarships that are past due. If payment is not received for this pending financial aid, the student will be responsible for the payment.
Escalate any third-party past due >90 days to the CFO.
○ VA
Etc.
Responsible position(s):
Bursar
Required documents and access:
Banner
Frequency and timing:
By Term
Steps:
Obtain information on other student fees to be applied to student accounts – parking, library fines, intramural fees, etc.
Assign charges to student accounts.
Send billing notification communications to students with payment instructions and due dates.
The University may bill for other miscellaneous charges that are not student related, e.g. facility rentals to outside groups, sales of farm products, sale of fixed assets, etc. Only the Cashiers in the Bursar's Office are authorized to collect or delegate the collection cash receipts on behalf of the university. Any employee or unit outside of the Cashiers that collects cash receipts must have documented and approved cash handling procedures on file with the Bursar's Office. Employees outside of the Bursar's Office may be granted approval to enter charges for goods and services directly. For good internal control, employees who post charges to accounts are not permitted to receive or post payment to the accounting system and employees who receive or post payments from students are not permitted to post charges to the accounting system.
Bursar or delegated employee posts charges
Cashier or delegated employee receives cash/check payments