--INACTIVE HISTORICAL POLICY--
Section: GENERAL ACCOUNTING
|Section 3000 Policies|
Policy Number: 3132.01
Policy Title: Write Off of Uncollectible Accounts Receivable
Policy Effective Date: April 1, 2011
Last Revision Date: April 1, 2011
(see revision history)
It is the policy of the CSU that debts and accounts receivable balances determined to be uncollectible must be written off in a timely manner. Each campus must prepare written procedures that implement this policy.
Campus procedure must describe:
- How debts and accounts receivable balances are determined to be uncollectible
- The process for approving the write off of uncollectible balances.
Campus procedures must provide that debt and accounts receivable balances determined to be uncollectible must be written off by the close of the fiscal year.
Campus procedures must require that the Chief Financial Officer (CFO) approve the write off of balances $5,000 and more. The CFO must designate the person(s) authorized to approve the write off of balances below $5,000.
The write-off of uncollectible balances in funds held by the State Treasurer and accounted for by the State Controller must follow the process outlined in the State Administrative Manual.
Benjamin F. Quillian
Executive Vice-Chancellor/Chief Financial Officer
Approved: February 7, 2011
APPLICABILITY AND AREAS OF RESPONSIBILITY
RESOURCES AND REFERENCE MATERIALS
Sound Business Practices:
Laws, State Codes, Regulations and Mandates:
- Executive Order 616 -
- Executive Order 731 -
- Executive Order 1000 -
- Coded Memo FS 2009-02 - http://www.calstate.edu/FinancialServices/codedmemos/2009/FS2009-02.pdf
- Education Code 89750.5 -
http://www.leginfo.ca.gov/cgi-bin/waisgate?WAISdocID=96920623088+1+0+0&WAISaction=retrieve (EDUCATION CODE SECTION 89750.5)
- Title 5 California Code of Regulations, Section 42380 - Debts Owed California State University -
COGNIZANT OFFICE(S)CO Manager:
Ms. Sylvia Olivas
General Accounting Manager, Accounting Department
CSU Office of the Chancellor
Ms. Lisa Chavez