Departments should develop guidelines in the management of receivables, whether student or other. These guidelines should protect university resources and ensure that management goals and objectives are achieved. Departments should develop guidelines in the management of outstanding receivables, which includes periodic monitoring, to ensure that outstanding accounts receivable balances are appropriately monitored for collections.
A receivable becomes past due if payment is not received by the payment due date. If concerted reasonable collection effort has been made, and no further collection is foreseen, it is understood that invoices may be written off if they meet the following criteria:
At no time is a department allowed to waive an uncollectable debt without submitting a write-off request to the Auxiliary Accounting Office. Departments may not reduce or cancel payments due from customers. This not only includes unpaid invoices, but also includes returned checks that have not been repaid.
University regulations (UF-3.042) require departments to use due diligence and exert every effort in the collection of all accounts. The President or the President’s designee may write-off or settle any uncollectible account owed the University.
All UF Departments that bill for goods/services.
Departmental guidelines for the management of receivables should include, at a minimum:
Delinquent accounts, that are not satisfied after the University has exercised a reasonable collection effort, can be placed with an approved collection agency.
The following approved collection agencies can be used:
Information on how to contact the collection agencies may be obtained by calling Bursar, Collection Department at 352-392-0766.
Use of an agency other than those listed above should be documented with the approval of Procurement or other relevant authority, and the department accepts the responsibility of performing any contract monitoring, such as obtaining current bond insurance, for contracted collection agencies.
Accounts receivable write-offs must be compiled by the departments and submitted to the Auxiliary Accounting Office on an annual basis. Auxiliary Accounting Office will communicate write-off reporting requirements to all Fee-for-Service Educational Activity (FSEAs) annually in May of every year.
An Accounts Receivable worksheet can be used to report write-off details and provide supporting documentation. The Auxiliary Accounting Office will report annually to the University Controller and Vice President and Chief Financial Officer the receivable write-offs for all units. Consistent reporting of the annual billing assessment and bad-debt expense for all units is necessary to ensure the monitoring of collection effectiveness.
Reminder: Bad debts resulting from FSEA operations are federally unallowable expenses.
Uncollectible Accounts Write-Off
Auxiliary Accounting: (352) 294-7236
Bursar Collection Department: (352) 392-0766