Business Office Audit - Final

• Campus

• Conducted on

  Date

• Prepared by

• Business Office Manager

• Have all FA disbursement receipts been printed?

  Yes

  No

  N/A

• Have all withdrawal letters been printed within 1 week of due date?<br>

  Yes

  No

  N/A

• Student Sample pulled prior to audit

Enrollment Agreement

• Student Name and Number

• Is student information complete / correct? <br><br>(Name, SSN, Address, City/State, Zip, Telephone Number and DOB)

  Yes

  No

  N/A

• Is program information complete / correct? <br><br>(Title, Total Clock Hours, Total Credit Hours, Total Weeks, Type of Program)

  Yes

  No

  N/A

• Is class information complete / correct?<br><br>(Start Date, Class Days, Class Time, Completion Date)

  Yes

  No

  N/A

• Are all program costs listed correctly and accurately?

  Yes

  No

  N/A

• Has student initialed all terms associated with contract?

  Yes

  No

  N/A

• Has the certification statement been dated and signed correctly by the student?

  Yes

  No

  N/A

• Has the Enrollment Agreement been signed by applicant and school representative?

  Yes

  No

  N/A

• Does this student have any Federal VA Loans or Alternative Loans?

  Yes

  No

  N/A

• Enter loans here

Loans

• Type of loan

  Federal VA loan

  Sallie Mae loan

  ELM alternative loan

• Enter date loan was received in bank account

  Date

• Enter date when loan was posted to student ledger

  Date

• Period of time it took to post loan to ledger

  Within 5 days

  Between 6 to 10 days

  Longer than 10 days

• Student Sample pulled prior to audit

Credit Memo

• Enter Student Name and Number

• Is Student Name listed correctly?

  Yes

  No

  N/A

• Is Student ID listed correctly

  Yes

  No

  N/A

• Is Program Name listed correctly?

  Yes

  No

  N/A

• Is the Start Date listed correctly?

  Yes

  No

  N/A

• Are Program Charges from Catalog Addendum posted correctly?

  Yes

  No

  N/A

• Is the Number of Weeks in Program listed correctly?

  Yes

  No

  N/A

• Are the AY Weeks posted correctly?

  Yes

  No

  N/A

• Are the weeks remaining after credits posted correctly?

  Yes

  No

  N/A

• Are taxes posted correctly (including STRF for CA schools)?

  Yes

  No

  N/A

• Does the credit memo have all needed signatures and dates?

  Yes

  No

  N/A

• Are the Course Names / Numbers listed correctly?

  Yes

  No

  N/A

• Are Clock Hours posted correctly?

  Yes

  No

  N/A

• Are Clock Hours for Term posted correctly?

  Yes

  No

  N/A

• Are the number of weeks in Term correct?

  Yes

  No

  N/A

• Have any Non-Tuition Credits been listed correctly?

  Yes

  No

  N/A

• Are the Start and End Dates for each AY listed correctly?

  Yes

  No

  N/A

• Student Sample pulled prior to audit

Reentry

• Enter Student Name and Number

• Is Student Name correct?

  Yes

  No

  N/A

• Is Student ID correct?

  Yes

  No

  N/A

• Is Program Name listed correctly?

  Yes

  No

  N/A

• Are charges posted correctly?

  Yes

  No

  N/A

• Are the Weeks Remaining to be Completed upon Reentry posted correctly?

  Yes

  No

  N/A

• Are the AY Weeks listed correctly?

  Yes

  No

  N/A

• Are the Start and End Dates for each AY listed correctly?

  Yes

  No

  N/A

• Review of past due accounts over 60 days

Past Due Account

• Student name and ID

• How long since the student made a payment

  0 to 30 Days

  31 to 60 Days

  61 to 90 Days

  91 to 120 Days

  Over 121 Days

• How long since last contact was made with the student?

  Within 5 days of being past due

  Within 10 days of being past due

  Greater than 10 days past due

  Student has not yet been contacted

• Were notes added to CampusVue after contact was made?

  Yes

  No

  N/A

• Has a payment plan been discussed with the student to bring them current?

  Yes

  No

  N/A

Cash Controls and Processes

Bank Deposits

• Are funds collected being stored in a safe secure location?

  Yes

  No

  N/A

• Are checks recieved stamped "For Deposit Only" immeadiately after recieving from the student?

  Yes

  No

  N/A

• How often are bank deposits being made?

  Once a week

  Multiple times within a week

  Weekly

  Monthly

• Who makes the deposit?

  Select Campus President Academic Dean Registrar Business Office Manager Financial Aid Director Other campus personnel

  • Campus President
  • Academic Dean
  • Registrar
  • Business Office Manager
  • Financial Aid Director
  • Other campus personnel

• Are bank deposits closed out in CampusVue Daily?

  Yes

  No

  N/A

• Are deposits wating to be taken to the bank locked in a secure location?

  Yes

  No

  N/A

• Are the bank deposit receipts verified against CampusVue Deposit Reports?

  Yes

  No

  N/A

• What issues were found with bank deposits?

Petty Cash

• Is petty cash stored in a secure location?

  Yes

  No

  N/A

• Is the petty cash being signed for when handed out?

  Yes

  No

  N/A

• Do the Receipts on file and cash on hand equal the total Petty Cash GL Amount?

  Yes

  No

  N/A

• Did petty cash in drawer tie back to petty cash report?

  Yes

  No

  N/A

• Are all reimbursements being properly coded according to the GL?

  Yes

  No

  N/A

• Is the Petty Cash Reconciliation being provided to the Accounting Department on a quartely basis?

  Yes

  No

  N/A

• Has Buisness Office Manager read the currenty Petty Cash Policy?

  Yes

  No

  N/A

• Are Petty Cash Funds being properly used according to the policy?

  Yes

  No

  N/A

• What issues were found with petty cash?

General Ledger Process

• Do you know where the current GL mapping file is located?

  Yes

  No

  N/A

• This is an action item that should be addressed in the Campus Action Plan

• Has the file been distributed to those responsible for coding expenses?

  Yes

  No

  N/A

• Who codes all Campus invoices?

• Who approves all campus invoices?

• What is the campus policy for approving invoices?

Student Collection Process

• How often does the Business Office run a past due cash report?

  Weekly

  Bi-Weekly

  Monthly

  Never

• How often are students contacted about past due amounts?

  Weekly

  Every 2 weeks

  Monthly

• How are students contacted when account is past due

  Select Hot Slip Phone Call Contact Instructor Email

  • Hot Slip
  • Phone Call
  • Contact Instructor
  • Email

• Are reciepts being provided to students to verify payment?

  Yes

  No

  N/A

• Is the Campus President notified about students who are past due over 60 days on a monthly basis?

  Yes

  No

  N/A

• How often are CampusVue Notes updated on collection issues?

  Weekly

  Every 2 weeks

  Monthly

• What issues were found with the campus collection process

• Is the bad debt report sent out by Accounting reviewed on a monthly basis?

  Yes

  No

  N/A

• Have the previous months students that were identified as having the largest increase been contacted?

  Yes

  No

  N/A

• Is the Campus President involved in reviewing bad deb reports and student collection issues?

  Yes

  No

  N/A

• Have student accounts with remain outstanding balances or students being repackaged been communicated to Financial Aid?

  Yes

  No

  N/A

• What steps are taken to clear these balances from the Bad Debt Report?

• What process do you use to follow up on these remaining balances or students being repackaged?

Inventory Process

• Are all inventory discrepancies being researched

  Yes

  No

  N/A

• This is an action item that should be addessed in the Campus Action Plan

• Who is receiving Inventory at the campus?

• Who has access to the inventory / inventory room on campus?

  Select Campus President Business Office Manager Academic Deans Financial Aid Director Other Campus personnel Students

  • Campus President
  • Business Office Manager
  • Academic Deans
  • Financial Aid Director
  • Other Campus personnel
  • Students

• Are all items in the shipment matched against the packing slip?

  Yes

  No

  N/A

• Are all deliveries being matched against a Purchase Order?

  Yes

  No

  N/A

• Are items being recieved in Workplace within 24 hours?

  Yes

  No

  N/A

• Is there a process in place to handle discrepancies found on a shipment?

  Yes

  No

  N/A

• This is an action item that should be addessed in the Campus Action Plan

• How often is inventory reconciled?

  Weekly

  Bi-Weekly

  Monthly

  Never

• Does the campus have a documented policy to return inventory items?

  Yes

  No

  N/A

• This is an action item that should be addessed in the Campus Action Plan

Work Place

• Who is ordering Inventory

  Select Business Office Manager Campus President Receptionist Academic Deans Financial Aid Director Students Other Campus Personnel

  • Business Office Manager
  • Campus President
  • Receptionist
  • Academic Deans
  • Financial Aid Director
  • Students
  • Other Campus Personnel

• Who has access to Workplace.

  Select Business Office Manager Campus President Receptionist Academic Deans Financial Aid Director Students Other Campus Personnel

  • Business Office Manager
  • Campus President
  • Receptionist
  • Academic Deans
  • Financial Aid Director
  • Students
  • Other Campus Personnel

• What are the responsiblities within workplace of those identified?

• Are releases being performed within 24 hours after inventory is handed out?

  Yes

  No

  N/A

• This is an action item that should be addessed in the Campus Action Plan

• What issues were found with Workplace

Book Margin

• Is the book margin accrual report sent by Accounting at the end of the month being reviewed?

  Yes

  No

  N/A

• How often do you communicate book template changes to Accounting?

  Weekly

  Bi-Weekly

  Monthly

  Never

• Does the BOM have a clear understanding of the Book Margin Process?

  Understands Fully

  Good Understanding

  Poor Understanding - Needs Work

  Does not understand

• Are book margins kept between 35%-45% each month?

  Yes

  No

  N/A

• Are non-inventory items being placed to Inventory GL Accounts?

  Yes

  No

  N/A

Students

• Student being interviewed

Student

• Enter Student Name and Number

• How would you rate the Business Office in customer service?

  Excellent

  Good

  Poor

  No Comment

• Enter comments

• How is Business Office Customer Service at the Campus?

• Do you have any suggestions that you would like to share?

• What more can the Business office do for the Student Population?

Management Staff

• Department being interviewed

Department

• Department and Manager's Name being interviewed

• How would you describe the customer service the BOM and the student body?

• How does the BOM provide assistance to your dept and how does your dept provide assistance to the Business Office?

• Are there any areas that impact your deparment that could use improvement and more assistance from to Buisiness Office.

Campus President / Operation Manager

• Director being interviewed

Director

• Director's Name being interviewed

• Which skillset of the BOM or function of the Business office has been most useful to you and / or the campus

• Which function of the Business Office and / or responsibilities of the Business Office Manager could use the most improvement?

• How would you describe the customer service that the BOM provides the to the campus and student body