Presentation on theme: "Kuali Budget Construction Catherine Maddaford KBC Administrator."— Presentation transcript:
Kuali Budget Construction Catherine Maddaford KBC Administrator
ASSESSMENTS AGAINST TUITION Kuali Budget Construction
What are these? Tuition budgets have some assessments against them for items related to tuition income. – Student aid – Facilities Improvement Fund (FIF) The types of tuition income and what the rates are for the assessments is determined each year and published/distributed along with other budget information in TBO. The Office of the Comptroller updates KFS each year with the appropriate rates, and these rate tables are used by KFS for the assessment calculations.
Automatic Allocation When the specific tuition object codes are used to allocate revenue budgets, KBC validates whether that object code is assessed for either student aid or FIF or both. The nightly process in KBC calculates the assessments due and allocates the appropriate debit budget to the correct revenue account, so charges will appear the next day in the appropriate accounts. The KBC user does NOT enter the Student Aid or the FIF budgets because they are automatically allocated.
Student Aid Student aid is an assessment only against undergraduate tuition. To determine which types of tuition will incur the charge, view the list of tuition object codes found on the KBC website: http://www.usc.edu/dept/finserv/dirtrng/KBCRat es.html http://www.usc.edu/dept/finserv/dirtrng/KBCRat es.html The object code used to allocate the charges for student aid is 09600 and the account used follows this pattern: 10-99xx-xx96.
FIF FIF charges are assessed against undergrad, graduate, and professional tuition. To see the object codes used in calculating the charges, view the website: http://www.usc.edu/dept/finserv/dirtrng/KBCRat es.html http://www.usc.edu/dept/finserv/dirtrng/KBCRat es.html The object codes used for the FIF charges can be found on the same site, and will appear in your account following this pattern: 10-99xx-xx95.