KEAN UNIVERSITY OFFICE OF STUDENT ACCOUNTING POLICY AND PROCEDURES MANUAL

KEAN UNIVERSITY OFFICE OF STUDENT ACCOUNTING POLICY AND PROCEDURES MANUAL BILLINGS AND COLLECTIONS

KEAN UNIVERSITY BILLINGS AND COLLECTIONS 1. Overview of the Student Accounting Office A.1 Office Responsibilities A.2 Office Operations A.3 System Overview A.4. External Accounts B.2 Billing and Receivable System B.3 AR Code Maintenance B.4 Window 1 Registration Through T-REG and WEB B.5 Window 2 Registration B.6 Immediate Billing Control B.7 Housing and Meal Plan Billing B.8 Payment Plan Policies and Procedures B.9 Tuition Management Systems (T.M.S) B.10 Book Vouchers Policies and Procedures 10.1 Book Vouchering Process B.11 Bounced Check Procedure B.12 Set-up of Miscellaneous Charges B.13 Set-up Restrictions (Holds) B.14 Billing of Open Accounts B.15 Waivers B.16 Registration Adjustment B.17 Accounts Receivable Write-off Accounting Procedures B.18 Policy for Calculating Allowance on Student Receivable B.19 Late Payment Fee and Payment Plan Late Charge Adjustments B.20 Term Balance Transfers C.1 All Records Pertaining to TITLE IV PROGRAMS Must Be Maintained a Minimum of Five (5) Years C.2 University Student Refund Policies and Procedures C.3 Student Refund C.4 Transmittal of Financial Aid Funds to Student Accounts C.5 Applying Financial Aid Funds to Student Accounts C.6 Credit Balance Accounts of Less Than $1.00 Accounting Procedures C.7 Refund Procedure for Veterans Tuition Credit Program (VTCP Vietnam Veterans Tuition Aid Program (VVTAP) C.8 Procedures for Handling Undeliverable Student Refund Checks C.8.A Procedures for Handling Uncashed Student Refund Checks (Non Title IV Funds) C.8.B The Following Procedure will be followed for Undeliverable Student Refund Checks C.8.C from Title IV Funds Procedure for Handling Uncashed Student Refund Checks Resulting from Title IV Credit Balances D.1 Outside Scholarship Procedures and Refunds E.1 Third Party (Sponsor) Billing F.1 Meal Plan (Diebold) Policy

A.1 OFFICE RESPONSIBILITIES The Office of Student Accounting functions as part of the Student Financial Services Department. The Student Accounting Office encompasses the following functional areas of responsibility: Revenue Management and Cash Receipts. Accounts Receivable and Cash Receipts Maintenance. Student Loan Accounting and Collections. Diebold Meal Plan and ID Card Data Base Management. Defaulted Loan Accounting and Collections. Federal and State Financial Aid Cash Distribution and Refunds. Reconciliation of AR to GL. Maintenance of Cardinal System for Parking Services. The Office is responsible for the timely and accurate management of students accounts, which requires working closely with Computer Services, Registrar, Housing, One Stop Service Center, Financial Aid, and the Admissions Office. A.2 OFFICE OPERATIONS Student Accounts are maintained on the Accounts Receivable System. Each student is assigned an identification number through the Admission Module of the Colleague System. A student's record may be retrieved from the system by the student's I.D.#, Social Security Number, Last Name, Maiden Name or Former Name. The AR module and GL are structured on the accrual basis of accounting. Tuition and fees are recorded when earned, i.e., at the beginning of a semester. Charges to student accounts are input to the AR Module from the following sources: 1. Charges for tuition and fees are automatically billed through the Immediate Billing System in the AR Module coupled with the Student Data Base maintained by the Registrar's Office. 2. Charges for room and board are generated through the Residence Life module by the Housing Office. 3. Special charges may be entered through miscellaneous billing by batch or on an individual student basis. Credits to student accounts are input to the AR Module from the following sources in addition to the three (3) sources above: 1. Transmittal from the Financial Aid System 2. Through the Cash Receipts Module maintained by the Office.

The Office is responsible for assuring that information is processed in the AR Module correctly and in a timely manner. Other responsibilities of the Office are to authorize refunds to students who have overpaid on their accounts and to answer student inquiries concerning their accounts. A.3 SYSTEM OVERVIEW Student balances are maintained on the AR Module of the Colleague System. Charges to student accounts for tuition and fees are entered into AR through the Rate Tables established by the Student Accounting Office. The room assignments are established through the Residence Life Module and charges for room and board Rate Tables are established by the Student Accounting Office. Credits to student accounts for cash receipts are processed through the Cash Receipts Module. Direct credits to financial aid are maintained in the Financial Aid Module and are transmitted to Student Accounts at the discretion of the Student Accounting Director. The AR Module maintains individual student balances for each student through the use of a student identification number. The student's record contains complete detail of all charges and credits. A.4 EXTERNAL ACCOUNTS The AR Module is also used to maintain accounts for individuals or groups of individuals that may be charged for some type of Kean University sponsored activity. The following types of receivables will be maintained in the AR Module: 01 11000001210 STUDENT RECEIVABLE 02 11000001241 PAYROLL ADVANCES 04 32000001270 MEMORIAL LOAN A/R 05 11000001250 A/R MISC (OTHER BILL) 07 SPONSORED BILLING Every student and external account maintained by AR is carried on the AR Master File and must have an AR Master File record. This record contains all demographic data about a student or external account, i.e., all personal or non-financial account data. The file permits the input of up to five addresses, student type information and attributes, and AR Balance. B.2 BILLING AND RECEIVABLE SYSTEM Student charges for tuition and fees, room, and meal plan are entered into Accounts Receivable during the pre-registration, registration and late registration periods as well as during the semester. Charges may be entered into the student's account through the Immediate Billing Process which will be controlled by either the Director, the Supervisor of the Billing Department or the Managing Assistant Director. The Billing Process assesses charges for tuition and tuitionrelated fees based on what the student has registered for in the Registration Module. The

Detailed Billing Process assesses charges for specific non-tuition related charges, e.g. parking decals, book vouchers, and meal plans. B.3 AR CODES MAINTENANCE Charges are entered into the AR Module through the use of AR Codes for each type of transaction. This list of AR Codes will be updated by the Director of Student Accounting or the Managing Assistant Director on a semester basis or as needed. A new AR Code will be established for each new charge or credit. The office establishing the charge or credit, i.e. the Office of Financial Services (OFS) or Student Affairs Office should inform the Student Accounting Director in writing that a new charge is being established. All new fees require the written approval of the Vice President for Administration and Finance and the approval of the Board of Trustees. The S/A Director will submit a request for a new account number to the Director of Accounting once OFS and the Board have given their approvals. The GL Accountant will establish GL Revenue and/or Control Accounts for the new AR Code. The S/A Managing Assistant Director will set up the new AR Code in the AR Module. The S/A Director will also send a memo to the staff informing them that a new AR Code has been established and providing a description of the charge or credit. Charges for the semester should be established and approved at least THREE WEEKS PRIOR TO THE FIRST BILLING FOR THE SEMESTER. B.4 WINDOW 1 REGISTRATION THROUGH KEANWise During pre-registration the student will receive a registration statement which includes a class schedule. The S/A Director will prepare a schedule for printing and mailing pre-registration bills. A copy of the memo is sent to the Financial Aid Director to ensure that financial aid award postings are up-to-date prior to running the registration bills in order to show the Financial Aid credits on the student s bill. The bill will be mailed to all students who have pre-registered in the form of a pre-set mailer approximately three weeks prior to the payment due date. The charges and credits will reflect the parameters that have been set up in the Registration, Financial Aid, Housing and AR Modules to define student type, tuition and fee charges, as well as Housing and Meal Plan charges. Upon receipt of the bill, the student will have approximately three weeks to remit payment. If payment is not received by the due date the University may assess a late payment fee to the student s account. All registered students are encouraged to mail their bill with payment to the lock box. On a daily basis, the lock box processor picks up and opens the mail, makes deposits, and prepares a file which is transmitted electronically to the University in order to update the students accounts and a separate file is prepared for credit cards. The lock box processor will process all payments (checks or charges). When the file is received from the lock box, the head cashier loads the file and updates the students accounts. The lock box processor will forward a hard copy report on

a daily basis for the purpose of verifying accuracy between the electronic transmission, daily deposits and the report. At that point, a posting will be made to the General Ledger. If the student pays cash in person he/she will receive a system generated receipt from the cashier. Payments will be entered on a daily basis by the cashiers. B.5 WINDOW - 2 REGISTRATION During Window-2 Registration, students will register on-line through KEANWise. After registering, the student will receive a Registration statement/invoice of courses with the appropriate charges assessed. Payment must be made by the due date in order to avoid a late payment fee or a hold flag being placed on the account. If a student is totally funded by financial aid, or if the bill indicates a zero or credit balance, it is not necessary to return the bill to the Student Accounting Office. Once registered, full payment is due for all courses not withdrawn. B.6 IMMEDIATE BILLING CONTROL In the Auto Billing Process charges are set up for tuition and fees based on certain Rate Tables which describe the student status. When Immediate Billing is on, the system permits the AR module to read the student records in the Registrar's Module. All student records in the Registered Processor are read and charges are assessed for tuition and fees. These charges are automatically posted to the student's account in the AR Module. B.7 HOUSING AND MEAL PLAN BILLING Charges for Housing and Meal Plans will be billed with registration billing. The Housing Office will enter the room assignment for dormitories, apartments, and meal plans into the Residence Life Module on a student basis. When the Immediate Billing is on, these charges will transmit to the AR automatically. B.8 PAYMENT PLAN POLICIES AND PROCEDURES Kean University s payment plan consists of five monthly payments and can be used for tuition and fees as well as housing and meal plan charges. This plan is available to all students including those who are receiving financial aid and can be used this to pay any current semester balance remaining after deduction of financial aid awards. A non refundable $25.00 fee is assessed for the agreement. The $25.00 fee is payable with the first payment. The payment plan is available for Fall and Spring semesters only. Each payment plan that is set up must be entered into the system by a data entry clerk. Two weeks prior to the payment due date, the Managing Assistant Director will run the payment plan in order to send a bill to all students who are in the plan. The student may make the payment in person at the Student Accounting Office or mail payment to the Office or lock box by the due date. A hold flag will be placed for those students who still have open balances and letters will

then be sent to students with open payment plan balances after the final payment is due. A final letter will be sent, giving them ten (10) days to clear his/her debt before the account is turned over to the out-side collection agency. If, after the ten (10) additional days, the account still remains open, then the account is turned over to the collection agency. The students are directed to contact the collection agency in regards to making payments. The Student Accounting Office is not to accept any payments on accounts turned over to the collection agency. B.9 TUITION MANAGEMENT SYSTEMS (T.M.S.) All full-time students are eligible to enroll in the ten (10) month payment plan available through T.M.S. Each year, new freshmen and transfer students are mailed applications by T.M.S, with a cover letter from the Director of the Student Accounting Office. Students may also enroll online by accessing the student menu on KeanWISE and clicking on www.afford.com. The first payment is due by July 1st. Payments are made for ten (10) months, beginning in July and ending in April. T.M.S. will notify the University by sending a list of each student and the budget amount for registration purposes. At the end of each month, T.M.S. sends a check to the Student Accounting Office for the payments received during the month. The detailed information including each student s name, social security number and the amount paid is sent to the Student Accounting Office on an Electronic Transmission for the purpose of updating the student account. A hold flag is put on each delinquent account. After all ten (10) payments have been received, each account is reviewed by the staff of the refund section. A refund is processed for each account that has been overpaid. If there is still a balance due, the account is referred to the billing supervisor for billing purposes. B.10 OCC B00K VOUCHER POLICIES AND PROCEDURES Book vouchers are made available to students who are awarded financial aid, for the purpose of purchasing books and supplies at the campus bookstore. The amount the student may request is limited to the balance of their financial aid awards, after deducting tuition, room and board deferred against their awards. Students are required to sign the following statement in compliance with Title IV regulations in order to receive book voucher credits. I authorize Kean University to charge my account for books and supplies and deduct these expenses from Federal and State Financial Aid Programs. If I am determined ineligible for financial aid for whatever reason, I shall personally be responsible for all charges. I also understand that the amount I am authorized to charge at the bookstore is merely an estimate and that I will be responsible for all purchases that exceed my financial aid awards.

B.10.1 BOOK VOUCHERING PROCESS 1. The Student Accounting staff reviews the student's financial aid record to make sure he/she is eligible for a book voucher and should review the student's A/R Items File and Financial Aid File prior to approving the voucher. 2. The staff in the billing department enter all book voucher charges through miscellaneous billing. 3. As soon as the payment deadline has passed, a report will be generated through the system, which will be in alphabetical order with the student's name, I.D.#, term, description, and amount. The report will be prepared in duplicate. This report will be approved by the Student Accounting Director or the Managing Assistant Director or the billing department supervisor and sent to the bookstore. The second copy will be retained in the office for future reference. 4. Students may then purchase books and supplies at the bookstore with valid identification. 5. Two to three weeks after the final day that the book voucher can be used, the OCC bookstore will issue a listing of student's names and the amount of purchases that were made. This list will be sent to the Office of Student Accounting and is reconciled to student accounts. 6. Under the direction of the billing supervisor, entries are made to the student's account to reflect the unused portion of the book voucher as listed on the bookstore billing. 7. The billing supervisor will use AR code "BVA" to input the credits to the students accounts. The transaction description on the account will read "Book Voucher Adjustment. Once completed, the supervisor will process a report to verify the entries and maintain the files. 8. Soon after all credits are entered to the students accounts, the designated staffer in the billing department will generate a report listing all students and amounts with A/R code equal to "BKV" "BVA. The list is reconciled to the amount billed by the bookstore. 9. After reconciliation, the billing department supervisor prepares a Request for Check Authorization payable to Barnes & Noble Bookstore for the amount due. A copy of the total page of the BKV/BVA listing is required as supporting documentation to the check request. The detailed listing is maintained in the Office of Student Accounting for audit purposes.

10. The billing department supervisor submits the Check Authorization Request to the Student Accounting Director. The Director approves the check authorization and forwards it to General Accounting with a notation that the completed check should be returned to the Student Accounting Office where the check will be forwarded to the bookstore with a cover letter explaining any differences and a copy of the detailed listing. B.11 BOUNCED CHECK PROCEDURE If a student's payment check bounces it will automatically be re-deposited by the bank a second time. If the check bounces a second time, a $50.00 Bounced Check Fee will be charged to the Student's Account through miscellaneous billing in the AR Module by a Data Entry Clerk in the Billings and Collections Area. The clerk will send a letter to the student informing him or her that the bounced check must be replaced by cash, certified check, money order including the $50.00 fee immediately. A hold flag is established on the student's account. If the student does not bring in payment or contact the Office he/she will be sent an additional letter stating that if the account is not paid within ten (10) days, the account will be forwarded to the collection agency. The collection area will maintain a listing of all students whose accounts are placed with the collection agency. B.12 SET-UP OF MISCELLANEOUS CHARGES The billing supervisor receives documentation from either the student or other sections to initiate a charge to a student's account, such as the following: 1) Book Voucher Credit BVA 2) Parking PKF 3) Meal plan MEL 4) Book voucher BKV 5) Certification CER 6) Returned check charge BCF 7) Late registration LRF 8) Late payment LPM 9) National Teachers Exam NTE 10) Graduation fee GAF When a specific charge amount is not specified, the clerk must key in the amount indicated on the documentation. For example, if a student requests a $600.00 meal plan, then the Clerk would enter "MEL" and then "600" to set up the charge. If there is a reversal needed of a charge, the clerk, under the direction of the Supervisor, would reverse the entry. B.13 SET-UP RESTRICTIONS (HOLDS)

The setting up of flags to the students' accounts is done under the supervision of the billing supervisor. Holds are put on students' accounts as per the following example: RC RETURNED CHECK TM TMS DELINQUENT CL NCO PV PARKING VIOLATION SO STUDENT ACCOUNTING OBLIGATION A/W A/R WRITEOFF ER Eastern Revenue ND NDSL/PERKINS CO Collection CO of America Only designated personnel will be allowed to access this module restrictions file. After gaining access to the PERC maintenance screen, the Student Accounting personnel is able to add a hold to a student's account or to delete a hold when the student's account is cleared. The Supervisor may assign certain clerks to assist in the keying of the flags. Once an obligation is cleared, the related flag must be removed by entering a date in the student account. B.14 BILLING OF OPEN ACCOUNTS B.15 WAIVERS Under the supervision of the billing supervisor, letters and statements will be mailed to the students requesting payment to clear their accounts. A hold is placed on the account at this time. Upon receipt of the payment, the money will be turned over to the cashier for entry into the records. Account Receivable statements for all debit balances will be processed, which will indicate the debit and credit of the student's accounts. The statement will be mailed to the student, indicating that the payment is due and payable within ten (10) days of receipt of the statement. Copies of the statement will be filed. As soon as payment is received, the copy will be pulled and submitted to the cashier for entry. At this time the hold is removed for this obligation. The student will be notified by a second billing from the Student Accounting department, that the payment has not been received. If the payment is not received by the deadline established in the second billing, a final notice will be sent advising the student that the account will be turned over for collection. If payment still is not received, the account will be turned over to the Collection Agency for further collection activities. A list will be maintained with the name, I.D.#, semester/year, and amount due for further reference. A collection agency hold is put on PERC screen. In most instances, the billing department supervisor or the Managing Assistant Director of student accounting is responsible for establishing the waiver in the tuition rate tables in order for the system to calculate waivers based on the University policy. However, other offices on campus are responsible for entering waivers for certain populations. The type of waivers that are processed include:

1) Senior Citizens (Registrar s Office) 2) Foreign Students 3) Graduate Assistantship (Nathan Weiss Graduate School) 4) Unemployment 5) Washington Fellowship 6) Employee and Employee Dependents 7) National Guard After each student type is entered into the computer to reduce the AR balance, the billing supervisor will run the waiver listing. If everything is correct, the proper document will be signed by the Managing Assistant Director and will be filed with backup support papers for audit purpose. B.16 REGISTRATION ADJUSTMENT All registration adjustments are entered through the Registrar s Module. B.17 ACCOUNTS RECEIVABLE WRITE-OFF ACCOUNTING PROCEDURES The following procedures are to be followed for accounts receivable authorized for write-off. 1. The Director of Student Accounting will submit a detailed listing of all accounts authorized for write-off to the Director of Student Financial Services who will submit the listing to the Executive Vice President of Operations for approval. 2. The approval of the Executive Vice President Of Operations is required prior to the writeoff of any account. 3. With the appropriate approvals received, the Director of Student Accounting will use AR Code ACW to adjust the accounts. The transaction will be: Debit --- Allowance for Doubtful Accounts Credit --- Student Accounts Receivable The transaction description on the account will read: "AR Write-Off"- COLLEAGUE. 4. All adjustments will be performed under the direct supervision of the Director of Student Accounting. 5. After making adjustments, a report will be generated for reconciliation purposes and presented to the Director of Financial Services for review. All adjusted accounts will be compiled in a detailed listing and maintained for record purposes.

6. Hold flags will be maintained for all student accounts written-off. 7. If a student account is collected after having been written-off, an entry will be made to reestablish the accounts receivable using AR Code RAR. The transaction will read: Debit --- Student Accounts Receivable Credit --- Allowance for Doubtful Accounts The transaction description on the account will read: "AR Write-Off Reversal". 8. In the case of Write-Off Recoveries, "hold-flags" will be immediately removed. B.18 POLICY FOR CALCULATING ALLOWANCE FOR DOUBTFUL ACCOUNTS ON STUDENT RECEIVABLE The following policy has been established in order to determine the allowance for doubtful accounts: The Receivables are aged by term and evaluated in order to determine how much money was collected for the prior fiscal year. The percentage collected is calculated. The estimated future collection is added and the balance is reserved against the allowance for doubtful accounts. Receivables greater than one year are reserved 100% against the allowance for doubtful accounts. B.19 LATE PAYMENT FEE AND PAYMENT PLAN LATE CHARGE ADJUSTMENTS The following procedures will be followed for late payment fee and payment plan late charge adjustments: 1. Administrative adjustments- If the late payment fee or late charge is determined to have been charged in error or the student deletes all courses, the charge will be reversed through the miscellaneous billing process after approval by the billing department supervisor or the Managing Assistant Director. 2. Appeal Adjustments- The student must file a written appeal stating the reason they feel the fee should be adjusted. The Managing Assistant Director or the billing department supervisor will review the appeal. If the appeal is approved, the account will be adjusted. If the appeal is not approved, the student will be notified accordingly.

B.20 TERM BALANCE TRANSFERS If an account has a credit balance for one semester and a debit balance for another, the term balances can be adjusted through the miscellaneous charge/credit process, MCRG. The term with the credit balance is debited and the term with the debit balance is credited for the same amount using AR code BLF. The entry description will read Term Balance Transfer and the net entry will be zero. This process is used only when the credit balance is the result of financial aid or a credit invoice. If the credit balance results from a cash receipt, the excess cash receipt can be transferred directly to the debit term using the payment term transfer process, APTT. If the credit balance results from financial aid, the credit balance will only be transferred to a term in the same financial aid year. Term balance transfer entries will be made only by the head billing clerk or Assistant Manager and will be approved by the Director of Student Accounting. C.1 ALL RECORDS PERTAINING TO TITLE IV PROGRAMS MUST BE MAINTAINED A MINIMUM OF FIVE (5) YEARS. C.2 UNIVERSITY STUDENT REFUND POLICIES AND PROCEDURES Refunds are made to students in the following circumstances: 1. Overpayment of tuition and fees by the student. 2. Withdrawal and/or cancellation from classes 3. Financial Aid 4. Class Loans, private loans, scholarships, and third party payments. The student's account must reflect a credit balance before a refund can be made except on an individual case by case basis as approved by the Director of Student Accounting or the Director of Student Financial Services. All refund checks are either mailed directly to the student by the General Accounting Office or transmitted electronically via a direct deposit to the student s account by General Accounting. Pick up requests must be approved by the by the Director or the Refund Department Supervisor. Pick up approvals are based on emergency financial circumstances, an address problem or in instances where a student s identity is compromised. The SA supervisor signs the Pickup Request form and forwards it to General Accounting with the Refund Voucher. When the student picks up the check, the student presents identification and signs the pickup request. If the student does not pick up the check within ten (10) days of the issue date, the check is mailed.

C.3 STUDENT REFUND At the end of the 100% withdrawal period and again at the end of the 50% withdrawal period, and after each financial aid transmittal, the Student Accounting Supervisor runs a report of all credit balances for the semester. The report generates a list of all students with credit balances for the term and total AR credit balances. The report is reviewed by the refund staff and returned to the refund supervisor for vouchering. Any discrepancies are reviewed by the refund supervisor prior to vouchering. At 4:00 pm each day, the refund supervisor generates a report of all refunds vouchered for the day. This report is printed in duplicate. The report must be reviewed by the Managing Assistant Director or the Director and both copies are signed. One copy is forwarded to General Accounting to process the checks. The second copy is maintained in the student accounting office with all attachments for future reference. C.4 TRANSMITTAL OF FINANCIAL AID FUNDS TO STUDENT ACCOUNTS 1. The Financial Aid Office enters all aid in their module. Based on established schedule the Financial Aid Director or a designee will run the Batch Financial Aid Pre-Posting Disbursement Report. After the pre-posting report is processed and signed by the F/A Director, the posting will be done by the Office of Student Accounting. A copy of the summary page of the transmittal will be given to the Grants Office for necessary drawdown (see General Accounting Procedure) C.5 APPLYING FINANCIAL AID FUNDS TO STUDENT ACCOUNTS A. Financial aid awards and direct loans are credited to the student account through the transmittal process. Financial aid funds are applied to term charges for tuition and fees as well as contracted room and board. Financial aid may also be applied to other costs of attendance such as books, meal plans, and parking decals if the student has authorized the University in writing to do so. The following statement is printed on the meal plan application: I understand that the proceeds of my Financial Aid awards may be applied to charges which include tuition, fees, room, and board. In addition, I authorize that the proceeds also be applied to other costs of attendance and institutional charges I may incur, such as meal plans. This statement is also printed on the parking decal application and a similar statement is printed on the book voucher application (see B.10.1). The statement must be signed by the student before the charges are posted to the student account. Refunds of excess funds in a student s account are to be mailed to the student or parent borrower within 14 days from the point the funds are posted to the student s account. (See procedures under C.3)

B. A notice will be generated and sent to the student indicating that their Financial Aid awards have been credited to their account within 30 days of the date the funds are credited. The notice states the amount and date the funds were credited and states that if they are due a refund, it will be processed in within the 14 days from the date the funds are posted to the student s account. This notice also notifies the student of their right to cancel all or part of their student loans. C.6 CREDIT BALANCE ACCOUNTS OF LESS THAN $1.00 - ACCOUNTING PROCEDURES It is established that refunds for less than $1.00 will not be processed. The following procedures will be followed to adjust credit balance accounts of less than $1.00. 1. All credit balance accounts of less than $1.00 must be adjusted on or before June 30th of each fiscal year. 2. A report will be generated by the refunds supervisor of all credit balance accounts of less than $1.00 and submitted to the Student Accounting Director. 3. The Student Accounting Director will submit a request to the Director of Financial Services along with a detailed listing of all accounts with credit balances of less than $1.00 for approval of transfer to miscellaneous income. 4. Once approval is obtained, the accounts will be adjusted to reflect a $0 balance by having the credit balance transferred to miscellaneous income by using AR Code CBT. The transaction description will read "Credit Balance Transfer. The adjustment will be performed by the Billings and Collections supervisor, under the direct supervision of the Director of Student Accounting. 5. After adjustments, a report will be generated for reconciliation purposes and presented to the Director of Financial Services for review. All adjusted accounts will be compiled in a detailed listing and maintained for record purpose. C.7 REFUND PROCEDURE FOR VETERANS TUITION CREDIT PROGRAM (VTCP VIETNAM VETERANS TUITION AID PROGRAM (VVTAP) 1. The Veterans Pre-disbursement Roster is sent to the Veterans Coordinator for verification of the enrollment status and the roster is returned to DHE. 2. After DHE's approval, a copy of the final disbursement roster is sent to the Student Accounting Office along with a check matching the total of the roster. DHE also sends a copy of the roster to the Veterans Coordinator.

3. The SA Supervisor verifies the check amount with the roster total and forwards the check to the head cashier with a copy of the roster for the purpose of entering the payments. The cash code to be used for the entry is "VTP. The transaction will read: DEBIT - CASH CREDIT - STUDENT ACCOUNT RECEIVABLE: The transaction description on the account will read: Veterans Tuition Payment. (All payment receipts are retained in VTCP and VVTAP file). 4. The SA supervisor will prepare a schedule of payments and refund due to the student. 5. Based on the schedule, the Refund Supervisor will voucher the refund through the system for each student and submits it to the Director of Student Accounting for approval. Then, the refund report is forwarded to General Accounting. Once the check is ready, it is mailed to the student. 6. In the event the Veterans Coordinator certifies a reduction in the award amount, the Refund Supervisor prepares a Third Party Refund Voucher to request a check payable to the Treasurer, State of New Jersey for the amount of the over-award. The check is then forwarded to Trenton with a copy of the adjusted roster. C.8 PROCEDURES FOR HANDLING UNDELIVERABLE STUDENT REFUND CHECKS (NON TITLE IV FUNDS) GENERAL ACCOUNTING, CASH CONTROL, WILL NOTIFY THE STUDENT ACCOUNTING OFFICE REGARDING ANY UNDELIVERABLE STUDENT REFUND CHECKS. THE FOLLOWING STEPS WILL BE TAKEN IN REGARDS TO THE ABOVE. 1. Student Accounting clerk fills out a record for each undeliverable check. The address of any undeliverable refund check will be verified by the Student Accounting Office in the colleague system. If a new address is on file, the Student Accounting Office will notify Cash Control and check will be mailed to the new address. An attempt will also be made to contact the student by phone, if there is a phone number in the system. 2. If the check remains undeliverable after 90 days, Cash Control will void the check and the voucher, which will create a credit in the student's account. 3. After voiding the check and voucher, Cash Control will notify Student Accounting. The Student Accounting Director will submit a request to the Director of Student Financial Services who will forward the request to the Executive Vice President for Operations with a list of all accounts for approval for transfer to miscellaneous income.

4. Once approval is obtained, the accounts will be adjusted to reflect a "0" balance by having the credit balance transferred to miscellaneous income by using AR Code URC. The transaction will be: DEBIT - ACCOUNTS RECEIVABLE CREDIT - MISCELLANEOUS INCOME ACCOUNT The transaction description will read "Undeliverable Refund". The adjustment will be performed by the Billing and Collection Supervisor, under the direct supervision of the Director of Student Accounting. 5. In case a student claims that he/she is due a refund, an entry will be made to re-establish the credit using AR Code URR. The transaction will be: DEBIT - MISCELLANEOUS INCOME ACCOUNT CREDIT - ACCOUNTS RECEIVABLE 6. The Revenue Account is established for the use of undeliverable student refunds. The account number is 11-72120-4990. 7. After adjustments, a report will be generated for reconciliation purposes and presented to the Associate Vice President for Administration and Finance for review. All adjusted accounts will be compiled in a detailed listing and maintained for record purposes. C.8.A PROCEDURES FOR HANDLING UNCASHED STUDENT REFUND CHECKS (NON TITLE IV FUNDS) 1. Checks that are outstanding over six months days are voided and credited back to the student s account by the General Accounting Office at the end of each quarter. Payment is stopped on checks and a list is sent to the Student Accounting Office. 2. The Student Accounting Office will notify the student in a form letter regarding procedures to have the check reissued. An attempt will also be made to contact the student by phone. 3. The Student Accounting Office Director will submit a request to the Associate VP for Administration and Finance with a list of all remaining accounts for approval to transfer to miscellaneous income. 4. Once approval is obtained, the accounts will be adjusted to reflect a 0" balance by having the credit balance transferred to miscellaneous income by using AR Code URC. The transaction will be: DEBIT - ACCOUNTS RECEIVABLE CREDIT - MISCELLANEOUS INCOME ACCOUNT

The transaction description will read Undeliverable Refund. The adjustment will be performed by the Billing and Collection Supervisor, under the direct supervision of the Director of Student Accounting Office. 5. In case a student claims that he is due a refund, an entry will be made to re-establish the credit using AR Code URR. The transaction will be: DEBIT - MISCELLANEOUS INCOME ACCOUNT CREDIT - ACCOUNTS RECEIVABLE 6. The Revenue Account is established for the use of undeliverable student refunds. The account number is 11-72120-4990. 7. After adjustments, a report will be generated for reconciliation purposes and presented to the Associate VP for Administration and Finance for review. All adjusted accounts will be compiled in a detailed listing and maintained for record purposes. C.8.B THE FOLLOWING PROCEDURE WILL BE FOLLOWED FOR UNDELIVERABLE STUDENT REFUND CHECKS FROM TITLE IV FUNDS: General Accounting will notify the Student Accounting Office regarding any undeliverable refund checks returned by the post office. Student Accounting Office will review the student s account to determine whether the refund check involves Title IV funds. If Title IV funds are involved, the procedure will be as follows: 1. The address of any undeliverable refund check will be verified by the Student Accounting Office through the colleague system. If there is another address on file, the Student Accounting Office will notify Cash Control and the check will be mailed to the new address. 2. If no new address or forwarding address is available and the student cannot be reached by phone or mail, the check will be voided as outstanding after 90 days and the procedures under C.8.C will be followed for return of funds to the financial aid programs. C.8.C PROCEDURE FOR HANDLING UNCASHED STUDENT REFUND CHECKS RESULTING FROM TITLE IV CREDIT BALANCES 1. Checks that are outstanding over six months are voided and credited back to the student s account by the General Accounting Office at the end of each quarter. Payment is stopped on checks of $10.00 or greater and a list is sent to the Student Accounting Office. Checks of less than $10.00 are credited to miscellaneous income using the URC entry described in section C.8.A. above.

2. The Student Accounting Office sends a letter to the student warning that the check has expired and that they must contact the Student Accounting Office to have a replacement check issued. The student is informed that if they do not request a replacement check within 30 days, the funds will be returned to their original source and they will not be able to appeal to receive the funds. 3. If a replacement check is not requested, the Student Accounting Office will prepare a memo to the Financial Aid Office indicating the name, ID#, refund amount and term of the outstanding check. The memo will request that adjustments to the Title IV funds be made in the amount of the refund check. 4. The Financial Aid Office will adjust the student awards the adjustments will be posted through the transmittal process (see C.4) The Student Accounting forward the information to General Accounting for return of funds D.1 OUTSIDE SCHOLARSHIP PROCEDURES AND REFUNDS Tuition and fees are deferred against outside scholarships based on written notification from the sponsors. As checks are received, copies are sent to the Financial Aid Office. Copies of the check or accompanying paperwork are filed in individual student s files. The check is deposited to the Student Account using A/R code SOS. Refunds are processed based on requests from the student after reviewing the student file to determine that there are no sponsor stipulations prohibiting refunding excess funds to the student. If the student does not enroll, the funds are returned to the sponsor. E.1 THIRD PARTY (SPONSOR) BILLING A student whose tuition and fees or other expenses will be paid by a third party, such as an employer, a grant or an outside scholarship, must submit a voucher or letter of authorization from the employer or sponsor to the Student Accounting Office with their bill. Entries are made by the Student Accounting staff through the Sponsor Billing Module to credit the student s account and debit the sponsor s account under AR type 07. (See Sponsor Billing Procedures Manual). This prevents incorrect billings and late payment fees being charged to sponsored students. After the refund period has ended each semester, the sponsors are billed and payments are posted to the sponsor accounts as received. The Assistant Manager reviews these entries as well as unpaid sponsor accounts by running a sponsor receivable trial balance report. Sponsor accounts that are past due are rebilled. If the account is not paid after the third billing, the sponsor billing credit will be reversed on the student account and the student will be responsible for payment. F.1 MEAL PLAN (DIEBOLD) POLICY

Meal plan charges are entered into the student account through the residence life module or miscellaneous billing. A program has been developed through OCIS to select these charges by term and by date to upload these charges to the Diebold system via a Gateway link. The Director and Assistant Manager are responsible for administering the upload process. The selection process will include a flag to validate the account and add the appropriate amount to the account without manual entries. A report will be generated through the Colleague system as well as the Diebold system for reconciliation purposes. The process will be run on a twice daily basis during the Fall and Spring semesters. When a meal plan amount needs to be added immediately, the entry will be made to the student s account using a separate AR code and added manually by the Diebold clerk as approved by the Assistant Manager. In the event a student wants to cancel a non-mandatory meal plan, the student must fill out a request form at the Student Accounting Office. The meal plan will be closed in the Diebold system and the balance will be credited to the student account for refund. The Diebold clerk will attach a printout of the student s campus view account to the meal plan credit request before forwarding to the billing supervisor. The billing supervisor will verify the amount of the meal plan credit and enter the adjustment to the student s account. The adjustment is then forwarded to the Assistant Manager for review. At the end of each academic year, all meal cards are closed and any credit balances of $1.00 or more will be credited to the student account and refunded. A report is run from the Campus View system and reviewed by the Assistant Manager before entry to the student s accounts. After the entries are made, a report is run from the Colleague system. The total of this report is matched to the Campus View report and reviewed by the Assistant Manager before refunds are processed. Diebold is designed to generate a variety of reports in order to approve payment for meal plan usage costs. The Diebold clerk maintains the reports in order to compare invoices received from food services on a weekly basis. Once the invoice is verified, the clerk forwards the invoice to the Assistant Manager and Director for payment approval. The invoice is then forwarded to General Accounting to have the check processed. At the end of the fiscal year, the total revenue generated through meal plans is reviewed and compared to the total invoices for the year paid to food services.