||Business and Support Operations
||Financial Transactions: Accounts and Notes Receivable Write-off
||Date of Present Issue:||
||Date of Previous Issues:
02/79, 06/94, 10/94
Accounts receivables, which are delinquent after reasonable collection efforts have been made by the University, are reported to the Board of Trustees for approval to write off. Collection efforts will continue on charged off accounts receivable through University-selected outside collection agencies, at the judgment of the University.
||1. Pursues the collection of accounts receivable with scheduled notices, prior to becoming delinquent for non-student accounts. Student charges will be forwarded to Business Operations to be placed on student accounts.
2. If account has not been paid 15 days after third past due notice is sent will forward account to Business Operations.
||1. Will ensure all charges are on student account and send a final bill indicating the account will be turned over to collections if not paid immediately.
2. Will forward account to collections office 15 days after final billing if account has not been paid.
3. Pursues delinquent account collection with a "Final Notice" notifying debtor that the account will be turned over to an appropriate outside collection agency and that collections fees may be added if appropriate. Telephone calls and personal contact will be used if circumstances warrant.
4. Ensures holds are on student records.
5. Accounts in excess of $50.00 that do not respond are turned over to an appropriate outside collection agency.
6. When all efforts have been exhausted and it is determined that an account is uncollectible, a list of those accounts of at least $100 will be recommended for write-off and submitted to the Director of Business Operations. Accounts under $100.00 will be written off on a monthly basis.
|Director of Business Operations
||1. Reviews the list of proposed write-offs and submits Operations accounts greater than $100 to the Vice President for Business and Financial Operations for review.
2. Submits write-off list to Board of Trustees Finance Committee for approval.
||1. Writes off the amount of the approved list of delinquent accounts from the appropriate accounts receivable control and charges it against the appropriate account.
2. Continues collection efforts on written-off accounts by appropriate means.
3. Whenever a Notice of Bankruptcy is received from the United States District Court, initiates a "Proof of Claim In Bankruptcy," in duplicate and discontinues billing process.
- Attaches to the original claim form a photocopy of all contracts and invoices that show proof of debt.
- Submits the original claim form to the Director of Business Operations for signature.
- Files the duplicate claim form in the debtor's account file and forwards original claim form to the United States District Court.
- After court decision, if debt is discharged, includes account on the next list of accounts proposed for write-off by Board of Trustees action if the account has not been previously written-off. If debt is not discharged, attempts to collect on account through normal collection procedures.