Student Course Fees and Travel Fees
All student fees, including those related to travel courses, should be processed through the Student Accounts Billing System. Specific fees are to be attached to courses (or campuses) and posted to the student’s bill upon completion of registration. Student fees should not be collected by department staff or faculty.
1. Contact Registrars Office at least two weeks prior to pre-registration to inform them that a course has a travel component with a required fee.
2. Contact Student Accounts at least two weeks prior to pre-registration to provide the fee requirement and amount.
Fee revenue from travel programs / courses developed by the Office of Global Learning will be credited to post to the appropriate Office of Global Learning ORG – Travel Course Fee ACCT.
Fee revenue from programs / courses developed by academic departments will post to the department ORG – Appropriate Fee ACCT.
Student Refunds of Credit Balances Resulting from Title IV, HEA Program Funds
Correction to Graduate Catalog
Unclaimed Title IV Funds
Lipscomb University will submit to the appropriate federal department any unclaimed Title IV funds except Federal Work study (FWS) that result in a credit balance on a student’s account in accordance with the United States Department of Education and the Title IV program. For FWS funds Lipscomb University will return only the Federal portion of the payroll disbursement.
If a check is returned to Lipscomb University or an EFT is rejected, Lipscomb University will make additional attempts to disburse the funds no later than 45 days after the funds were returned or rejected.
After 240 days from the check issued date, Lipscomb University will cease any and all disbursements attempts and return the funds to the appropriate government agency.
Entrepreneurial initiatives such as Accounting Camp, Journalism Camp, and GEMS, are welcomed by the University. The Business Office is available to process deposits and invoice payments, and the Human Resources office is available to process payroll expenses.
The University will retain 25% of net revenue (sales, receipts, fees less refunds) as an administrative cost recovery. The remainder of revenue after expenditures will accumulate for the benefit of the program operator or the related academic department. Disbursements from these programs to individuals are generally subject to social security and federal income tax withholding.
If the expectation is to distribute all net profit so that zero funds accumulate, an Agency Fund (AGxxxx) is appropriate; if the expectation is that funds will accumulate for use by the academic department, an Unrestricted Obligated Fund (18xxxx) is appropriate.
Credit Card Processing Fees
Banking fees incurred from the acceptance of credit card payments for departmental events and activities are allocated to that department budget as an expense.