From: Bev Kennedy (kennedy@graceland.edu)
Date: Thu Oct 26 2000 - 13:18:43 EDT
Diane, we allow students with credit balances of $50 or less to pick up
their "excess" in cash so that we don't have to cut so many small-balance
checks. The student is required to present his/her ID card and sign a form
at the cashier's window when the cash is taken.
Bev Kennedy, Accountant
Graceland University
1 University Place
Lamoni, IA 50140
kennedy@graceland.edu
(515) 784-5132
Fax (515) 784-5411
-----Original Message-----
From: by way of Lynn Davis <lsa3h@l1.mail.virginia.edu>
[mailto:Diane_Hoehnke@wlc.edu]
Sent: Thursday, October 26, 2000 9:50 AM
To: bursar-l@virginia.edu
Subject: Re: Small credit balances
I have a related question. Are there institutions that have a different
threshold on refunding credit balances - especially between semester and
between academic years when the student is returning? We are a small
college (but growing fast) and finding it very difficult with the staff
level we have to be cutting checks for $20 and $50 at a time and would like
to make the move to "encouraging" (or requiring) returning students to
allow all credit balances under a certain amount ($50 or $100) to remain
for the following semester (except in the case of Federal loan funds) and
like Geneva College not refund amounts under $5 or $10.
and to answer your question, Mary, we clear small balances against the same
account we write off small amounts due from students by charging or
crediting each student with a distinct billing code set up for that
purpose.
Diane Hoehnke
Wisconsin Lutheran College
Milwaukee, WI
414-443-8627
To: bursar-l@virginia.edu
cc:
Subject: Small credit balances
We have a policy of not refunding credit balances under $5.00.
As a result we have a number of small credit balances
on accounts. Is there an alternative to writing a check
that would result in cleaning up the credit balance?
Mary E. McConkey
Student accounts Manager
Geneva College
Phone : 724-847-6545
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