Comptroller

Student accounts receivable

Student accounts receivable consists of balances for tuition and fees, meals and dormitory charges as well as other fees and charges incurred by students during the course of their enrollment at the university. Student accounts receivable consists primarily of tuition and fees to be paid by or on behalf of individual students from federal, state or private financial aid including grants, loans, scholarships, vocational rehabilitation, veterans benefits, etc. that has not as yet been received by the university.

Students having an unpaid account balance are billed by the cashier’s office and normally given a 10 day period in which to make payment. Students who do not clear all indebtedness to the university may have their classes canceled for non-payment depending on the amount, nature and circumstances of their past due charges. See attached sample of Quarterly Expense Sheet, General Regulations.

Students who leave the university with unpaid charges have their academic transcripts placed in “Hold Status” until all charges are paid. The Comptroller’s Office sends a follow-up bill and letter requesting payment to students not continuing in school. In addition, larger accounts (accounts in excess of $300) are assigned to an outside collection service for additional collection efforts.

The university utilizes an 18-month cycle for write-off of student accounts receivable. Student accounts are kept in active collection status for 18 months, as we have found that most students will return to school and clear their indebtedness within this time period. Students accounts receivable are written off at least annually with any account over 18 months being written off. However, the “hold” on the student’s transcript and any outside collection efforts are continued.

Other accounts receivable

Other accounts receivable consists of a variety of billings ranging from grants and contracts, to clinical services, insurance billings, food services, farm activities and various types of reimbursements due the university. These accounts receivable are reviewed periodically as to their collectibility status. Follow-up and second notices are sent each month. Telephone contact is utilized where possible and an outside collection service is used if deemed necessary. Write-off of billed accounts receivable is recommended by the accounts receivable clerk to the Comptroller after contact with the department responsible for the accounts receivable billing. Collection efforts continue through follow up by individual departments and possible outside collection services.

This policy provides guidelines for the safeguarding of cash and non-cash items secured in a departmental vault or safe.

Policy:

1. All University employees who receive and/or deposit cash must properly safeguard the cash and deposit it timely with the Cashiers Office.

The policy and procedures regarding cash handling are outlined in Policy 5404 of the online Louisiana Tech University Policies and Procedures.

All departments that collect cash or checks on a regular basis should have a vault, safe, or other secure locked location to secure University assets or make a daily
deposit of funds. Departments handling limited cash or checks should make timely deposits to avoid the storing of University assets overnight.

2. Vault combinations:

Each department with a vault or safe should assign one person in the department as the vault/safe custodian and at least one individual as the backup custodian. These individuals should safeguard the combination to the vault or safe.

The combination should be changed periodically and whenever an employee who has the vault combination separates from the University, transfers to another department, or changes job duties. Such action should be taken in a timely manner.

3. Vault Keys (if applicable):

Each department should assign one or more persons in the department responsibility for the key to the vault. These individuals should safeguard these keys at all times.

Whenever an employee who has the vault combination separates from the University, transfers to another department, or changes job duties the vault key must be returned to the department head. Any extra keys must be kept in a secure location.

4. Alarm System (if applicable):

Departments with vaults/safes maintaining larger operating cash funds and daily receipts prior to a deposit should periodically review the need for an alarm control system. Major vault and cash handling areas should consider the need for a video camera security system and a silent “hold up” alarm for additional security and safety of the University assets and the employees.

For departments with an alarm system, access to alarm codes should be carefully controlled by the department and the employee. Each department should assign one or more persons in the department responsibility for the access code to the alarm. These individuals should safeguard the codes at all times.

Whenever an employee who has the alarm system access code separates from the University, transfers to another department, or changes job duties the access code should be deactivated.

5. The Vault/Safe Custodian is responsible for the following:

• Assuring that the university assets are secured in the vault or safe.
• Assuring that the vault is not left unattended while it is open.
• Assuring that the vault is locked at all times when not in use.
• Maintaining a log or register of transactions.
• Reconciling the vault cash on a regular basis. In the event that assets are
• found missing, the department head must be notified immediately.
• Forwarding vault reconciliations should be forwarded to the department head for review.

6. The department head or the internal auditor will periodically perform a random (unannounced) vault reconciliation.

In accordance with IRS regulation, we are required to maintain a current IRS Form W-9 on file for all vendors used by the University.  This rule encompasses any person or company to which the University pays.  Because of the volume of vendors the University uses, it is the responsibility of each department to ensure a W-9 is received from a vendor before submitting a requisition.  To avoid requesting duplicates, a list of all W-9s the University has received can viewed here.  This list will be routinely updated.  If the person or company you wish to have paid is not listed, you must receive a W-9 from that person or company before submitting for payment.  No payment will be issued without a current W-9 on file.  The current form W-9 is available at here.

If you do receive a W-9 from a vendor, attach the W-9 to your requisition or contract before submitting for payment or routing.

To summarize, you should request a form W-9 from all vendors unless that vendor is on the index list OR if you become aware that a vendor that is on the list has changed names (i.e., if an individual has incorporated).

 

Travel

• Hotel Tax Exemption

Payroll

• 2011 Foreign National Data Collection Form
• Foreign National Data Collection Form Supplemental Information for Prior Visits

Internal Revenue Service (IRS)

• IRS Form W-9
• IRS Form 8233  – Exemption From Withholding on Compensation for Independent (and Certain Dependent) Personal Services of a Nonresident Alien Individual.
• IRS Form i8233 – Instructions for IRS Form 8233
• IRS Form W-8BEN – Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding.
• IRS Form iW-8BEN – Instructions for IRS Form W-8BEN

Purchasing Card

• Purchasing Card Change

Accounts Payable 

• IRS Form W-9
• 2011 Foreign National Data Collection Form
• Foreign National Data Collection Form Supplemental Information for Prior Visits