Accounts Receivable Billing

Type

Procedure

Category

Finance

Department

College Finance/Bursar

Phone

(541) 463-3573

Primary Contact

Roberta Wong

Contact Email

Responsible Executive Authority

Controller

Purpose

It is the responsibility of the College to avoid fiscal jeopardy. This procedure describes the types of receivables managed by College Finance, the process by which departments may request billing services and the consequences for students and staff for non-payment.

Narrative

Billings result in "cash transactions" and thus are under the supervision and stewardship of the Controller. Please see Banking and Cash Receipts/ Disbursements. Departments who have a need to bill students, staff, other individuals, businesses, federal, state and local agencies, and other entities will need to contact the Operations area of Enrollment Services to make arrangements for the billing(s).

The college's credit policies are set forth in Lane's Deferred Billing Terms document.

Types of Receivables - Five general receivable categories are billed and maintained by Enrollment Services/Student Financial Services:

  1. Student Accounts Receivable consisting primarily of charges made on student tuition, nonreturned library books, child care, NSF checks, lost or nonreturned P.E. items, etc;
  2. Staff accounts consisting primarily of PERS, payroll overpayments, library, or NSF checks;
  3. Agency accounts consisting primarily of tuitions and/or fees for students sponsored by state, federal or local sources. Agency accounts receivable computerized billing statements are prepared and, if needed, attached to special billing forms required by the agency;
  4. Student loans made under the Federal Perkins Loan program. Federal regulations govern the collection activities on this account; and
  5. Department billings consisting of items other than student charges (example: room rental, track rental, laundry services, etc.).

Timing - Computerized statements for student and staff accounts are prepared monthly.

Action on Unpaid Accounts - Staff and student accounts that are unpaid after 90 days are referred to an outside collection agency.

Date Adopted

Saturday, May 1, 1999

Date Last Reviewed

Tuesday, December 1, 2015