Administrative Procedures

Student Refund Checks

1. Purpose

To provide guidance and responsibility for canceling/voiding of student refund checks.

2. Scope

This procedure applies to all KCTCS colleges and employees in all operating areas.

3. General

3.1

Distribution as well as the responsibility for canceling/voiding of student refund checks is the responsibility of the college business office.

1. Refund checks result from transactions created by various units within the college.
2. College business office received requests to cancel/void student refund checks.
3. Communication between functional areas is key.

4. College Responsibilities

4.1

Colleges are responsible for cancellation (VOID) of:

1. Accounts Payable Student Refunds
2. External Organization Refunds
   1. College must have check in its possession.
   2. The word VOID must be stamped or written on face of check.
   3. Student/External Organization ID must be written on the face of the check.
   4. Mail same day to KCTCS, Student Financials, 300 North Main St., Versailles, KY 40383.

5. System Office Responsibilities

5.1

System Office Responsibilities for Cancellation (VOID) of:

1. Accounts Payable Student Refunds
2. External Organization Refunds
   1. Coordinate with KCTCS' Accounts Payable to cancel within PeopleSoft Financials System.
   2. Reverse the refund from Student/External Organization account.
   3. Undeliverable student refund check prior to 01/01/2007.
   4. Credit balances due to an undeliverable refund check requires a Refund Offset through Post Student Transaction.
   5. Refund Offset Account Type TUT, Item Type 80XXXXX17200
      1. Debit college student receivable account 12100
      2. Credit 21000-01-44300-7000020-01000-00
      3. NOTE: When student provides college with updated personal data, the Refund Offset reversed, and the refund processed through the weekly batch refund process.

6. BankMobile Student Refund Stale/Return Checks

6.1

KCTCS Office of Student Financials notified of stale/returned refund checks from BankMobile.

6.2

KCTCS Office of Student Financials provides Director of Cash Management a list of students and dollar amount of stale/returned refund checks.

6.3

Director of Cash Management notifies KCTCS Office of Student Financials of deposited funds received.

6.4

KCTCS Office of Student Financials completes Refund Reversal of stale/returned checks within PeopleSoft.

6.5

KCTCS Office of Student Financials sends list of student refunds reversed based on Title IV Aid that contributed to the refund to KCTCS Office of Student Financial Aid.

6.6

KCTCS Office of Student Financial Aid works with each college to determine if a reduction of Title IV is required.

6.7

Remaining excess funds after the reduction of Title IV on student account requires college staff to post a Refund Offset (Account Type TUT, Item Type 80XXXXX17200) to clear student account.

1. NOTE: When student provides college with updated personal data, the Refund Offset is reversed, and the refund is processed through the weekly batch refund process.
2. NOTE: Students who question the removal of Title IV Aid may contact the college Student Financial Aid Office.
3. College staff may view the Stale Check Report using BankMobile log in credentials: https://www.bankmobileadminsupport.com/adminsite/login/start.do.