Loans and Accounts Receivable

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Accounts Receivable Controls

Arranged By:   Chronological
Application Number:   89-23
Item Number:   190.01

Purpose

This record series consists of monthly accounts receivable controls.  Information includes the invoice, receipt, and journal entry numbers and a designation as to the amount of any refund which may be due for each transaction, listed by the transaction's accounts receivable number.  The controls are used to tie the outstanding accounts receivable into the General Accounting System.

Procedure

Microfilm annually, then dispose of original paper.  All record series microforms are to be retained for six (6) years, then disposed of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Check Requests Files

Arranged By:   By check request number
Application Number:   89-23
Item Number:   190.02

Purpose

This record series consists of the check request files maintained by the Office of Accounts Receivable.  The records contain written check requests issued by Accounts Receivable to the University Accounting Office if a vendor claims non-payment for services rendered.  The Accounting Office then reexamines their cancelled checks to verify if the payment was made and/or in the event of non-payment, the check was returned to the University's Revolving Fund.  Original check requests are maintained on microfiche with the Accounting Office.

Procedure

Retain in office for three (3) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Delinquent Payments Collection File

Arranged By:   Alphabetical by debtor's name
Application Number:   89-23
Item Number:   190.03

Purpose

This record series reflects the collection efforts undertaken by the Accounts Receivable Office for the recovery of delinquent payments from overdue tuition, housing, parking fines, etc. These debts are written off as uncollectible after five years.  An encumbrance, however, stays in effect on each debtor indefinitely.  This encumbrance prohibits persons owing money to the University to re-enroll, receive grades or transcripts, etc. Predominant documents included in these files are copies of original invoices and bills, collection letters, bankruptcy notices, and correspondence.

Procedure

Retain in office for three (3) years after final payment and/or settlement, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.  (No disposals are to proceed unless there is full compliance with provisions of Ill. Rev. Stat. 1989, ch.15, par. 102).

Invoices

Arranged By:   By fiscal year and invoice number
Application Number:   89-23
Item Number:   190.04

Purpose

This record series consists of all external and internal (departmental charges) invoices for university offices and departments maintained by the Office of Accounts Receivable.

Procedure

Microfilm as generated and dispose of original paper.  All record series microforms are to be retained in office for six (6) years, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Journal Entries

Arranged By:   Chronological, then by journal entry number
Application Number:   89-23
Item Number:   190.05

Purpose

This record series consists of duplicate journal entries which are used by Accounts Receivable to correct any errors in record keeping or to write off any outstanding debts.  The original journal entries are maintained by the Accounting Office.

Procedure

Retain in office for three (3) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

 

File Maintenance Records

Arranged By:   Chronological
Application Number:   89-23
Item Number:   190.06

Purpose

This record series consists of the file maintenance records maintained by the Office of Accounts Receivable.  The records include all documentation (e.g. correspondence) used in establishing new accounts with vendors and recording address changes for commercial accounts.

Procedure

Microfilm as generated and dispose of original paper.  All record series microforms are to be retained in office for six (6) years, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Monthly Outstanding Accounts Receivable Lists

Arranged By:   Chronological
Application Number:   89-23
Item Number:   190.07

Purpose

This record series consists of monthly listings for all outstanding accounts receivable.  These listings include the following information in regard to every external vendor to whom any debt is owed:  the names of any university departments which owe that particular vendor, the invoice, receipt, and journal entry numbers for each particular transaction, and a designation as to the amount of any refund which may be due for that transaction.

Procedure

Retain in office for six (6) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Yearly Outstanding Accounts Receivable

Arranged By:   Chronological
Application Number:   89-23
Item Number:   190.08

Purpose

This record series consists of listings of all accounts receivable which remain outstanding during each fiscal year.  These listings include the following information in regard to every external vendor to whom any debt is owed:  the names of any university departments which owe that particular vendor, the invoice, receipt, and journal entry numbers for each particular transaction, and a designation as to the amount of any refund which may be due for that transaction.

Procedure

Microfilm as generated and dispose of original paper.  All record series microforms are to be retained in office for six (6) years, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Outstanding Debt Files

Arranged By:   Numerical
Application Number:   89-23
Item Number:   190.09

Purpose

This record series consists of the outstanding debt files maintained by the Office of Accounts Receivable.  The records include a listing of all customers (vendors) with outstanding debts by vendor name, account number, and amount of debt.

Procedure

Microfilm as generated and dispose of original paper.  All record series microforms are to be retained in office for six (6) years, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Outstanding Debts of Retirees File

Arranged By:   In release order
Application Number:   89-23
Item Number:   190.1

Purpose

This record series consists of correspondence informing retirees that they owe money to the University and will not receive any benefits until this is paid.

Procedure

Retain in office for three (3) years after payment/settlement has been reached or all legal action has been exhausted in compliance with Ill. Rev. Stat. 1989, ch.15, par. 102, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Payroll Deduction Orders

Arranged By:   Chronological
Application Number:   89-23
Item Number:   190.11

Purpose

This record series consists of memos sent to the payroll office regarding payroll deduction orders.  These orders serve as unofficial wage garnishments on employees and are utilized to collect money owed the University (bills, parking tickets, etc.).  Each order lists the employee's name, social security number, and amount to be deducted.

Procedure

Retain in office for six (6) years after payment or settlement of debt, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Receipt Documents

Arranged By:   Chronological, then by receipt number
Application Number:   89-23
Item Number:   190.12

Purpose

This record series consists of duplicate receipt documents with attached remittance advice (original check stubs and copies of invoices, etc.) maintained by Accounts Receivable.  Record copies of all receipts are maintained on microform in the Accounting Office.

Procedure

Retain in office for six (6) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Uncollectible Debts File

Arranged By:   Alphabetical
Application Number:   89-23
Item Number:   190.13

Purpose

This record series consists of files on individuals with outstanding debts.  Included in this are original charges, all correspondence (i.e. collection letters), bankruptcy notice, transcript request, and admission request.

Procedure

Retain in office for three (3) years after payment/settlement has been reached or all legal action has been exhausted in compliance with Ill. Rev. Stat. 1989, ch.15, par. 102, then dispose of providing all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Journal Vouchers File

Arranged By:   Numerical
Application Number:   89-23
Item Number:   190.14

Purpose

This record series consists of duplicate copies of journal vouchers along with adding machine tapes.

Procedure

Retain in office for three (3) years, then dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.

Administrative Correspondence and Reference Files

Arranged By:   By subject
Application Number:   89-23
Item Number:   190.15

Purpose

This record series consists of various correspondence and information accumulated by this department.  Included are memoranda, correspondence, various reports (i.e. nursing student loan program), and annual federal requests.

Procedure

Retain in office for three (3) years, then dispose of provided all administrative value has expired.

Proof of Due Diligence

Arranged By:   Chronological
Application Number:   89-23
Item Number:   190.16

Purpose

This record series consists of computer printouts and/or discs/tapes showing that notification has been sent to individuals who are delinquent in their repayment of student loans.

Procedure

Retain in office for seven (7) years following settlement and/or full collection of account(s), then reuse and/or dispose of provided all audits have been completed under the supervision of the Auditor General, if necessary, and no litigation is pending or anticipated.  Computer tape/disc maintenance and preservation procedures are to be fully applied.

Contact Us

Ethics and Compliance Office
Health Services Building, 2nd floor
815-753-5560
eco@niu.edu