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I.
The
Bursar's Office is charged with the responsibility of receiving,
safeguarding, and depositing all funds due to Northern Illinois
University.
II.
Window
service at the Bursar's Office is offered between the hours of 8:15 a.m.
to 4:00 p.m. Services offered to the university include:
A.
Collection
of Accounts Receivable
B.
Deposits
to University Accounts
III.
Accounts
Receivable
University departments bill external customers and organizations
through the university billing and accounts receivable system. Monthly
statements and reports are issued showing all open balances. Payments may
be made in person or by mail.
IV.
Deposits
to University Accounts
Receipts are to be deposited daily with the Bursar's Office or an
authorized depository bank. If the volume of receipts does not warrant a
daily deposit, receipts should be deposited no later than 5 business days
after receipt or when they amount to $500.00, whichever comes first. For departments/offices located at
our regional centers (Rockford, Hoffman Estates, and Naperville) deposits
will be considered timely if they are made using the next available
courier – courier service to the DeKalb campus is made twice a week. If large deposits are
anticipated, arrangements should be made to have the deposits brought to
the Bursar’s Office on a non-scheduled courier day. Delaying deposits may compromise
internal controls, leading to potential loss. If funds are not deposited
daily, they should be secured in a locked, fireproof cabinet.
All deposits to university accounts must be made at the Bursar’s
Office or an authorized depository bank. The university will not
accept the responsibility for loss or discrepancies in deposits sent
through the mail. All checks should be restrictively endorsed ("For
Deposit Only, Northern Illinois University") and deposited in a
timely manner so they do not become stale. A stale check is one submitted past the date after
which the check states it is void, or six months after the date of the
check, whichever comes first. All deposits should be accompanied by a detailed list
of checks and currency with the total deposit indicated. The GAS account,
including line item number, should be on the back of the checks to aid
the Bursar’s Office in identifying checks returned by the bank.
V.
Untimely Deposits
Cashiers receiving deposits will accept and process all deposits
regardless of their timeliness and will report to the Associate Bursar or
Bursar any department which has delivered an untimely deposit (i.e.,
payments the university can determine were held longer than the time
prescribed above) and/or stale checks for deposit. In turn, notification will be
sent to the department head of the initial failure to comply with the
timely deposit policy. Any
repeat violation from that department will result in a second notice that
brings the matter to the attention of appropriate management for the area
to provide correction to the problem. The university’s Internal Auditor is also notified at
this point. The university
president will receive notification from the Internal Auditor.
VI.
Returned
Checks
Sometimes checks which were tendered in payment by individuals or
were deposited by departments are returned by the bank for a variety of
reasons. The Bursar makes a concerted effort to collect the amount of the
original check and, as authorized by the university, charges a service
fee of $25.00. If funds are not collected, the PeopleSoft cost center
originally credited is charged for the amount of the returned check.
VII.
Non-Credit
Conferences, Seminars, and Other Continuing Education/Public Service
Activities
Noncredit programs include conferences, workshops, institutes,
symposia, clinics, online courses and other such continuing educational/public
service activities which do not award academic credit but for which fees
are charged and collected through cash, checks or credit cards.
Non-Credit Registration Services (NCRS) are provided through the Division
of Administration and this unit is charged with collecting and receipting
fee income associated with non-credit programs. Departments or groups
with a compelling reason to administer programs independently of NCRS
must have written approval from their own vice president and the Vice
President for Administration. The standard business practices for
receipting, depositing, and record keeping outlined below apply to all
such programs.
All programs must have a published policy for charging fees,
offering discounts, and giving refunds. The policy must be followed
consistently.
All billings to external individuals or groups must be made
through the university billing and accounts receivable system
administered by the Bursar. On-line registration and payment by credit
card can only be made through approved, secure university sites. Contact
the Director of Treasury Operations for information on the sites
available. When payments are received via the Internet, by phone or by
mail, confirmations may be issued to the registrant rather than receipts.
Such confirmations should provide a means for the sponsoring department
to track total registrations received and accepted.
All proceeds from these programs must be deposited intact at the
Bursar’s Office or an authorized depository bank. Pre-numbered receipts
should be issued to each registrant and copies maintained either by NCRS
or the sponsoring department, as appropriate. A supply of pre-numbered receipt books can be obtained
at no cost from the Bursar’s Office. A representative of the department
must sign out each receipt book. At the conclusion of the function, either
NCRS or the sponsoring department must account for all pre-numbered
receipts issued. In the case of year-round activity, these receipts
should be accounted for periodically. Specialized pre-numbered receipts
can be designed and purchased by the department where volume and/or
longevity of the activity will justify such receipts. The need should be
discussed with the Bursar.
For all registrations, the following information must be
maintained: A list of people who attended the activity, the amount paid,
method of payment, and the date payment was received, along with copies
of individual receipts for all registrations processed. This list should
include information on who attended the activity free of charge as guests
of the university. These lists should be retained by NCRS and/or the sponsoring
department as a part of the activity’s permanent record for future
auditing purposes. Additionally, these records will be used to provide
data for various university reports.
NCRS charges fees for their services as approved by the
university. In all cases, NCRS and the departments requesting the use of
their services should have a written agreement documenting the services
to be performed and the fees to be assessed. The fee will be invoiced on
a schedule agreed to by the parties. When a non-credit continuing
education or public service activity is conducted at a site other than
the DeKalb campus, the travel, transportation and lodging expenses of
NCRS personnel will be paid by the activity in addition to the fee for
registration services.
VIII.
Fee
Collection at Off-Campus Locations
If fees are collected at locations distant from the DeKalb campus
and it is not possible to deposit income with the university in
accordance with university policy, the cash income received should be
converted into a cashier's check (or similar instrument) made payable to
"Northern Illinois University". This check, and other checks
and money orders received from registrants, are to be deposited with the
Bursar's Office on the next business day in compliance with requirements
summarized under "Deposits to University Accounts."
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