1. Student Accounts Best Practices Presented by: Dee Bowling East Carolina University Fayetteville Fort Bragg

2. History of UNC Business Compliance Standards Audit findings Standardize processes across UNC system for key areas Process areas: Financial Aid General Accounting Contracts and Grants Capital Assets Student Accounts Payroll (standards are drafted and being reviewed)

3. Student Account Standards

4. General Management Polices and Procedures Manual Training Annual Employee Performance Reviews Roles and Responsibilities Matrix Segregation of Duties Records Retention Approved charges

5. Financial Aid Disbursements Financial Aid distributes awards to student accounts Federal Aid is applied to allowable charges Title IV authorizations – current year and prior year Plus Loans – parent authorizations Utilize security to control and segregate duties related to disbursing and payment application Use Banner detail codes (or PeopleSoft item codes) to link student accounts activity and financial aid awards and for updating ledger

6. Third Party Payments Sub process for managing obligations to pay for all or part of the student’s bill Written authorizations on file Verify and/or renew authorizations on a semester basis Have procedures for managing student accounts that are paid by third parties including Bill timely Reconcile at least semesterly

7. Billing Required charges and other institutional charges Bill students – using paper bills or ebills – and bill timely Include required “Uses of Tuition” document Make billing dates and payment dates public information Have process for billing Tuition Surcharge and include required information Have process for Tuition Surcharge appeals Required reports – aging and reconciliations

8. Payments and Credits Publicly post accepted payment methods Daily Deposit Requirements Offer online payment options Polices on accepting debit and credit cards Payment Plans Tuition Waivers Tuition Remissions Requirement to Notify Financial Aid of outside scholarships International Payments Wire transfers Cash Payments >$10,000 Form 8300

9. Past Due Accounts Collections Process Past Due Policies Charge interest Charge late payment penalty Mail letters at specified times AG Referrals SEDCA / SODCA Collection Agencies Accounting Aging Report/reconciliation to ledger Process for write offs Process for replenishing allowance account

10. Refunds and Adjustments General Refund Policies Refund Schedules Appeals process Refunds Timely – (specific rules and time frames for Federal Aid) Plus Loans Escheat guidelines

11. Reconciliations Daily, Monthly, Semesterly Daily Receipts External Processing systems Electronic Funds Transfer Monthly A/R to ledger Emergency Loans Activity Financial Aid Semesterly Third Party Accounts

12. Emergency Loans Procedure for approvals Establish repayment terms Procedures in case of non-payment Reconciliation

13. Special Areas Protect confidentiality of student record and data System access requirements Controlled access Access removed timely Access should be review at least every six months Auxiliary system access reviews Business Continuity Plans Physical Security 1098T/1042S reporting Faculty/Staff Waiver Taxation

14. Other Checklists Daily Deposit Limits – reference 2015 session law 147-77 Helpful Links: NC Office of State Controller Accounts Receivable UNC GA Policy Manual NC Department of Justice Collections Guidelines North Carolina General Assembly - General Statutes

15. Questions You can email questions if you’d like… bowlingde@ecu.edubowlingde@ecu.eduDee Bowling acarpenter@northcarolina.eduacarpenter@northcarolina.eduAutumn Carpenter hlhummer@northcarolina.eduhlhummer@northcarolina.eduHeather Hummer