Central Administration Revenue Policies and Procedures. Part A (4): Operating Environment
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1 1. Information System Environment Central Administration Revenue Policies and Procedures Part A (4): Operating Environment The college will maintain systems that to assure the appropriate timely, accurate and controlled recognition of all revenue. The college information system environment as it relates to the recognition of revenue consists of: 2. The Integrated Financial Management System (IFMS). The Integrated Financial Management System is a proprietary system provided by American Management Systems. It is used to manage financial activity. It contains purchasing, general ledger, accounts payable, expenditure and budget, accounts receivable and general accounting subsystems. In the management of its financial activities, revenue is posted to and recognized in the IFMS by campus business and central business office personnel. The college uses IFMS to maintain its official financial information. IFMS is the instrument in which all revenue received by the college is formally recorded and from which all reports will be made. All financial transactions not directly recognized by and posted to the IFMS system are to be posted to IFMS in a timely and effective manner. All procedures and policies that result in the posting of revenue to IFMS are managed in a controlled manner, characterized by the appropriate separation of duties and responsibilities. All bank accounts transfers, deposits and adjustments will be reconciled to the IFMS system. The college uses the revenue budget and revenue receipt subsystems of the IFMS system in revenue processing activities, including general revenue posting, the definition of revenue source codes, and the recognition of revenue by campus. Cash receipts and journal vouchers are the basic IFMS instruments used when managing revenue. IFMS operates in a controlled and secure level, with institutionalized procedural, security and approval mechanisms that conform to the requirements of these revenue management policies. IFMS has been accepted as a valid system for the maintenance of the college s financial activities by the college s and the county s independent outside auditors.
2 3. Student Account Update Program (SAUP) The Student Account (SAUP) program is a subsystem in the student services system. The Student Account (SAUP) program assembles and bills students for tuition and fees, establishes their obligations and recognizing their payments. It supports students who are in college credit and non-credit courses. It does not include or bill third party payees or others who contract for courses or programs from the college. The SAUP system is used to generate standard charges (tuition and fees) assessed to students and provides data for the college s student-based billing system. 4. Cash Flow Update Program (CFUP) Cash Flow (CFUP) system is the interface between student accounts and activity processed in the Point of Sale (POS) system or the manual system (Manual System). It recognizes and relieves payments made by students to the college through front or back office processes. It is used to reconcile cash receipts to student accounts, within the student administration system, and to cash receipts recognized in the integrated financial (IFMS) system. 5. Student Account Billing Subsystem This is a routine in the student administration system that prepares scheduled bills and recurring bills throughout the year for payment directly by students. This system does not handle third party billings, which are processed manually by the college. The student account billing subsystem processes bills on a semester basis, beginning with registration. Subsequently, there is a series of four billing routines (Charge Runs A-D) to re-bill students for outstanding amounts and to manage internal collections efforts. The Charge A-D runs bill students for all amounts outstanding except Library fines, where they receive a notice of encumbrance and are directed to the Library to resolve any issues outstanding. 6. Traffic Fine (TFUP) The Traffic Fine (TFUP) system is a stand-alone system, which contains records on traffic fines levied to system. On a regular basis, information from this system
3 is merged into the data stream of the Student Account billing system to produce scheduled and recurring bills. 7. The Library System, which is a stand-alone system, contains information on student overdue, fines and lost book charges. On a regular basis, this information is used to post a notice a notice of obligation on a students record that an amount is due from the library. The dollar obligation is not defined by the notice. 8. Office Processing Environments: Point of Sale and Manual Systems The college has two front-office systems. The Point of Sale System and, for the lack of a more descriptive term, the Manual System. a. The Point of Sale Office System The Point of Sale (POS) system is a proprietary system provided by New York Cash Register company used to manage front-office receipt of payments from students. It is software located in the campus business offices that is used to process bills paid by students during the normal registration period. The POS system is turned on during active business periods. It handles all revenue reflected on the students schedule/bills, and is used to process the receipt of revenue from the pre-registration period through the completion of the registration (add/drop) period. The POS can capture all tuition and fees, but it cannot handle other payments from students (i.e., traffic and library fines), third party billings, rental charges, and other revenue received by the college. The POS system is linked to the college s student account system (SAUP) so payments received release receivables from students who are directly responsible for the payment of their bills. All revenue received by the Point of Sale (POS) system is initially posted to a general revenue account established for each campus. Funds in these accounts are subsequently distributed (journal vouchered) to the specific and appropriate revenue source codes. This procedure is colloquially called the grand master spread. b. Manual Office System
4 The Manual System (MS) is a front-end processing environment used throughout the year to collect cash from students, other customers and third party payees. It also handles back-office financial transactions. The Manual System is used when the Point of Sale System is not active, as a complement to the Point of Sale system when registration activity is substantial, and at all other times. Once the grand master spread has been completed and the Point of Sale system is off line, all revenue received in the Manual System is directly posted to the appropriate revenue source code(s). 9. Depositing Revenue The college deposits revenue in a timely, accurate and controlled manner. a. Lockbox and Credit Card via VRU Deposits The college uses a lock box and accepts credit cards to expedite the receipt and deposit of revenue from students. Lock box and credit card receipts are deposited and verified on a daily basis. Payments are verified by revenue source code, reflecting the tuition and fee charges detailed in student account files; and by cash receipt and batch deposit in the financial system. b. College Mail A revenue receipt log will be maintained. The log will list all checks received. The individual who opens each batch of mail will initial each batch, and that individual will have no responsibility for depositing funds, so separation is maintained between the receipt and deposit of funds. The individual who reconciles deposits and batches to the mail log and revenue receipt log will prepare neither. c. Cashiers Office Front Office Procedures The cashiers offices will close out and deposit all receipts through manual cash registers no less often than weekly or when the total reaches $ and no less often than daily during periods of high activity. d. Cashiers Office Back Office Procedures Each office will use registration deposit sheets and deposit slips to process deposits. Those who verify the registration deposit sheets and the related
5 deposit slips will be someone other than the individual(s) who prepared the deposit sheets and slips.
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