McNeese State University, in fulfillment of its mission as a public educational institution, may extend credit to students, employees (for travel), and other third parties under contractual agreements. While such credit arrangements may pose repayment risks, the University is committed to managing accounts receivable responsibly and in accordance with sound financial practices.<\/p>\n\n\n\n
This policy establishes guidelines to ensure proper internal controls over the management, recording, and collection of accounts receivable across the University.<\/p>\n\n\n\n
This policy applies to all University employees involved in the billing, management, or collection of accounts receivable, including but not limited to student accounts, employee receivables, grants, contracts, and miscellaneous receivables.<\/p>\n\n\n\n
Accounts receivable activities are subject to audit by the University\u2019s Office of Internal Audit and by the Louisiana Legislative Auditor as part of the state\u2019s biennial review process.<\/p>\n\n\n\n
Students may register via Banner Self-Service or with an advisor. At registration, invoices are made available online, and accounts receivable entries are recorded in the student financial system. To retain enrollment, students must submit either:<\/p>\n\n\n\n
Students not receiving financial aid may qualify for an installment plan, which allows tuition payments to be spread throughout the semester with a minimal initial payment.<\/p>\n\n\n\n
Payments may be made online via e-check or credit\/debit card, or in person\/by mail through the Cashier\u2019s Office. Students who fail to make arrangements by the payment deadline risk having their classes purged and corresponding receivables removed from the system.<\/p>\n\n\n\n
Changes to course schedules are permitted through published deadlines. Any increased charges from schedule adjustments must be paid promptly. After the deadline, students without an installment plan and outstanding balances may have their schedules purged and charges reversed.<\/p>\n\n\n\n
Student accounts receivable generally consists of balances for tuition and fees, McNeese Team Store charges, meal plans, parking fines, library fines, and other miscellaneous fees. When student accounts become delinquent, appropriate registration and transcript holds are placed on the student\u2019s account.\u00a0Delinquent accounts more than $200 and 180 days old are reviewed and a final statement of account is mailed to the last known address advising the student that their account will be placed for collection with the attorney general\u2019s office within 45 days.\u00a0At that time, the student has an opportunity to pay in-full, make payment arrangements, or dispute the charges.\u00a0After 45 days, the unsettled accounts are electronically sent to the attorney general via secured channels. Once the account has been turned over to the attorney general, all University internal collection efforts are stopped, and the account must be paid through the attorney general\u2019s office.<\/p>\n\n\n\n
The only types of employee receivables at McNeese State University are related to outstanding travel advances and McNeese Team Store charge accounts. The outstanding travel advances are monitored by the travel accountant.\u00a0This employee contacts departments and requests travel documentation to clear the travel advance.\u00a0The McNeese Team Store charge accounts are monitored by the McNeese Team Store and reconciled to the general ledger by the Office of Administrative Accounting.<\/p>\n\n\n\n
Reimbursement-based grants\/contracts are invoiced by the grant accountant per agreement terms. Receivables are recorded at fiscal year-end and assumed to be fully collectible\u2014no allowance for doubtful accounts is applied.<\/p>\n\n\n\n
Other miscellaneous receivables consist of a variety of billings ranging from clinical services, insurance billings, farm activities, and athletic contracts.\u00a0These receivables are typically not recorded in the general ledger unless an outstanding balance remains at fiscal year-end. If a balance is still due at that time, the comptroller will record the appropriate entry in the general ledger.<\/p>\n\n\n\n
A quarterly accounts receivable report is submitted electronically to the Office of Statewide Reporting and Accounting Policy, in compliance with Louisiana R.S. 39.79 and SA-96-45. This report includes receivable aging, collection activity, and write-offs with explanatory notes for any variances.<\/p>\n\n\n\n
An allowance for doubtful accounts is recorded annually in the general ledger using the following percentages:<\/p>\n\n\n\n
Adjustments to the allowance are made at the close of each fiscal year based on current receivable trends.<\/p>\n\n\n\n
This policy is distributed via the University Policies webpage.<\/p>\n","protected":false},"parent":0,"template":"","policy_types":[13],"class_list":["post-5190","ie_policy","type-ie_policy","status-publish","hentry","policy_types-business-and-finance"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/ie_policy\/5190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/ie_policy"}],"about":[{"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/types\/ie_policy"}],"version-history":[{"count":4,"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/ie_policy\/5190\/revisions"}],"predecessor-version":[{"id":16802,"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/ie_policy\/5190\/revisions\/16802"}],"wp:attachment":[{"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/media?parent=5190"}],"wp:term":[{"taxonomy":"policy_types","embeddable":true,"href":"https:\/\/www.mcneese.edu\/policy\/wp-json\/wp\/v2\/policy_types?post=5190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}