Accounts Receivable Policy
The CSU, Chico Research Foundation
|Office of Research and Sponsored Programs||
The CSU, Chico Research Foundation (Foundation), in the administration of various projects/accounts, will prepare invoices as required by each project/account. Collections will be performed on a regular basis. Outstanding receivables for potential write-off will be reviewed prior to the end of each fiscal year.
Each grant and/or contract contains language and financial reporting instructions required by the funding agency. Office of Research and Sponsored Programs (RESP) administrative analysts will review their assigned projects on a monthly basis and prepare invoices or financial reports as required by each grant and/or contract. Administrative analysts will contact the project director if needed to obtain information to complete invoicing or reports in a timely manner. If information requested from the project director is not received in a timely manner, the administrative analyst will seek assistance from the RESP financial manager or the RESP director. The RESP financial manager or the RESP director will contact the project director and/or his or her dean, chair and/or supervisor if needed to ensure information is received and invoicing or reports can be completed.
All other accounts require that the project director or other project personnel complete an Invoice Request Form and submit it to the appropriate foundation office for preparation of an invoice. This form can be found here.
Grant and contract projects: Outstanding receivables will be reviewed monthly by the administrative analyst assigned to the project and past due notices will be sent to the funding agency at 60 and 90 days after the original invoice submission date. The analyst will note the status on the project-billing sheet. Current invoices/reports for that project may accompany the past due invoice. Once an outstanding receivable is 120 days past due, the administrative analyst will telephone the funding agency to determine the status of the invoice. Once the receivable is 180 days past due, the administrative analyst will work with the RESP financial manager and/or the RESP director to determine what action to take, which may include requesting a letter be sent to the debtor by the Foundation's attorney.
If at any time the administrative analyst receives notification that the funding agency will not pay the invoice, the analyst will inform the RESP financial manager and/or the RESP director to determine what action to take, which may include writing off the debt.
All other accounts: Outstanding receivables will be reviewed monthly and past due notices will be sent at 60, 90, and 120 days after the original invoice submission date. Once an outstanding receivable is 180 days past due, staff will inform the RESP financial manager and/or the foundation assistant director about the outstanding receivable for a decision on what action to take, which may include writing off the debt.
Outstanding receivables will be written off, based on a determination that a particular receivable is uncollectable. A final review of outstanding receivables and write-offs will be completed before the end of each fiscal year. The Foundation will not write off an outstanding receivable if there is potential to collect. Write-offs will be approved and initialed by the RESP director, the RESP financial manager or the foundation assistant director.
RESP and Foundation Approved 4-10-2002