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Chapter 2. Accounting Services
Section 2.11. Credit and Collections

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2.11.3. Collections


Definition

Collections: The efforts to obtain monies due the University from debtors; normally, the amounts due have extended beyond the credit terms offered by the University.


Policy

All collection efforts on past-due accounts held by the University will be conducted under the supervision of the collection coordinator, with the exception of Research and Sponsored Programs receivables (refer to section 2.11.3.1). Refer to Board of Control Policy 13.10. Collection of Debts to review the collections policy in its entirety. Under various circumstances the collection coordinator may request the assistance of other departmental personnel to effect collections on past-due accounts; this assistance should be provided as needed in the interests of protecting the assets of the University.

This policy does not apply to federal and University loan programs which have separate collection guidelines.

The collection coordinator is authorized to negotiate contracts with any bona-fide collection agency, which, in the opinion of that officer, would best protect the interests of the University.

History
Prior: 11/13/2001
Adopted: 01/07/2003 Included the exception of Research and Sponsored Programs receivables in the first paragraph and deleted the intradepartmental procedures.

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