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Receivables Management – Non-Student Receivables Policy

West Virginia University Policy
Division of Administration and Finance


WVU-CO-19

RECEIVABLES MANAGEMENT – NON-STUDENT RECEIVABLES POLICY

PURPOSE

The purpose of this policy is to inform University employees that West Virginia University will exercise due diligence in the collection of all amounts due from external parties.

SCOPE

This policy applies to all University departments, Including those on the regional campuses.

Exceptions to this policy will be handled on a case by case basis and must be requested in writing and approved by the Controller.

POLICY

West Virginia University will exercise due diligence in the collection of all amounts due from external parties. Due diligence includes billing accounts on a timely basis, timely notification when accounts are past due, utilization of collection agencies in the collection of delinquent accounts, and litigation when necessary.

The University will monitor accounts on a regular basis and, if an external agency has a historical pattern of delinquency, the University will undertake necessary action to ensure timely collection of any amounts due. Such action may include the suspension of current and/or future business and the termination of sponsored agreements.

PROCEDURE

Procedure development rests with the Controller’s Office.

RESPONSIBILITY FOR IMPLEMENTATION

All employees are charged with providing full support of this policy. It is the responsibility of the Dean or Director to implement and maintain this policy within their college, department, or unit. The Controller’s Office, at 293-4002 or P.O. Box 6001, is available to answer questions or provide additional information regarding this policy.

RESPONSIBILITY FOR INTERPRETATION

The responsibility for interpretation of this policy rests with the Controller, West Virginia University.

Effective Date: September 10, 1998
Approved By: Scott C. Kelley, Vice President