FOCUS 2013
Bursar Roundtable
Bursar Roundtable – Fall 2013
1.
a.
b.
c.
Student Accounts
Procedures for refund or return of
overpayments on accounts, specifically
those from international students or of large
value
Assessing room and board on a daily rate
rather than a semester rate/basis
Which collection agencies are in use and
recommended
Bursar Roundtable – Fall 2013
1.
d.
e.
f.
Student Accounts – Cont.
Related insurance options: Tuition
refund, payment plan insurance,
renters insurance options, etc. in use or
under consideration?
Telephone Consumer Protection Act –
using automated dialing systems to
communicate anywhere on campus?
Accepting admission deposits online
and system access/credentials
Bursar Roundtable – Fall 2013
2. 1098Ts
a. Due diligence seeking valid SSN/TINs
from students (IRS penalty letters)
b. Process for nonresident aliens
c. Data submission controls for e-file
with the IRS
d. Reportable Outside Scholarships
(3rd party and VA payments?)
Bursar Roundtable – Fall 2013
ACH Security Framework –
Effective September 20, 2013
The ACH Security Framework amendment
creates a framework within the NACHA
Operating Rules (Rules) aimed at protecting the
security and integrity of certain ACH data
throughout its lifecycle. The Security Framework
establishes minimum data security obligations
for ACH Network participants to protect ACH
data within their purview.
3.
Bursar Roundtable – Fall 2013
3. ACH Security Framework --continued
Specifically, the Framework:
• requires non-consumer Originators, Participating
DFIs, Third-Party Service Providers and Third-Party
Senders to establish, implement and, as appropriate,
update security policies, procedures, and systems
related to the initiation, processing and storage of
Entries and resulting Protected Information;
• requires each Participating DFI, Third-Party Service Provider, and ThirdParty Sender to verify, as part of its annual ACH Rules Compliance Audit,
that it has established, implemented, and updated the data security
policies, procedures, and systems required by the Rules; and
• requires an ODFI to use a commercially reasonable method to establish
the identity of each nonconsumer Originator or Third-Party Sender with
which the ODFI enters into an Origination Agreement.
Bursar Roundtable – Fall 2013
4.
Credit Cards
a. Update on acceptance of VISA
branded cards for student accounts,
service charge programs
b. AMEX click through updates to Terms
and Conditions
c. PCI version 3.0 released on Nov 7 and
will be covered later this afternoon
Bursar Roundtable – Fall 2013
5. Dept of Defense MOU Proposed Changes
a. Option for exception to credit card
payments may be removed
b. Refund processing for VA Benefits (like
R2T4 guidelines)
Bursar Roundtable – Fall 2013
6. Funds Handling
a. Athletics - Entry fees and fundraisers - Best
way to track and verify deposits
b. Student Local Funds - Documentation
required from the groups for their
fundraisers/functions
c. Keeping up with changes in tax laws and
state regulations concerning dining,
catering, concessions, etc.
Bursar Roundtable – Fall 2013
7. Graduate Student Contracts
Electronic v. Paper Initiation
Recording system actions
Bursar Roundtable – Fall 2013
8.
a.
b.
c.
d.
Using Social Media on Campus
Financial literacy programs and/or
financial communication to students
Orientation
Facebook, Twitter accounts for student
services?
Higher administration on Twitter?
receiving complaints and feedback to
President or others?
Bursar Roundtable – Fall 2013
9.
a.
b.
c.
d.
e.
Compliance Audits and Reviews
APA review, what are they looking at and for?
Title IV stale dated check processing timing and
procedures
R2T4 tips and tricks, collections, billing of R2T4 debt
Analytics, does anyone consider the cost of
compliance; time, personnel, equipment?
VA compliance visits, any issues,
continuing/professional education program
attention?
Bursar Roundtable – Fall 2013
10. Metrics/Benchmarking --Are we
measuring data, NACUBO benchmarking?
What is important?
11. International programs and creative
tuition
assessment/discounts/MOUs/agreements,
any experiences or best practices?