Inaugural Annual Financial Report: 2019 FY Report

AnnualFi nanc i alReport FORFI SCALYEAR ENDI NGJ UNE30,

OUR M ISSION STATEM ENT St udentAc c ount i ng,Bi l l i ng,andCas hi erSer vi c es( St udentABC)ens ur est hepr oper bi l l i ngofs t udentac c ount sandpr ovi despr of es s i onal ,pr ompt ,c our t eouss er vi c et o r es ol vef i nanc i alpr obl emsonani ndi vi dualbas i s .

Wemanaget hec har gesandc r edi t sonas t udent ’ st er m bi l lac c ounti nc l udi ngt ui t i on, f ees ,hous i ng,di ni ng,mi s c el l aneousf ees ,payment s ,f i nanc i alai dc r edi t s ,t ui t i on r emi s s i on,andwai ver sf orever ys emes t ert hatas t udentat t endsRut ger sUni ver s i t y.

OurCor eSect i ons

Tabl eOfCont ent s

L et ’ s al k W e l cT ome Bi l l i n g Le t t er

T ui t i o no& F e e s De a r C l l e a g u es, Iwoul dl i ket owel c omeyout ot hef i r s teverAnnual Repor tf orSt udentAc c ount i ng,Bi l l i ngandCas hi er Ser vi c es( St udentABC) .I ti sanexc i t i ngt i mef orusas wec ont i nuet ogr ow andadaptt ot heever c hangi ng needsoft hewor l d.Rut ger sUni ver s i t yi sc onf r ont i nga t i meofmanyc hanges ,andwear emeet i ngt hes e c hangesdur i ngat i meofl ar gernat i onwi deandgl obal c hange.Thewor l dofSt udentAc c ount sandFi nanc ei s anexc i t i ngar eai nwhi c hweef f ec t i vel yut i l i z edat a anal ys i st ohel pours t udent sandf ami l i espr oac t i vel y pr epar et hei rf i nanc esdur i ngandaf t ert hei rc ol l ege exper i enc e.Wear eal s oabl et opr oj ec tandf or ec as t f i nanc est opr epar ef orunf or es eenc hal l enges ,s houl d anyar i s e.

Aswec ont i nuet ohi r e,t r ai nandeduc at eours t af fona r egul arbas i s ,t hi shasens ur edt hatouroper at i ons r emai natt hec ut t i ngedgeofhi ghereduc at i on s t andar ds .Wear et r ans f or mi ngt hewayweoper at et o i mpr oveourabi l i t yt odec r eas ei nper s ont r af f i c ,i nc r eas ec us t omers at i s f ac t i on, pr ovi devi r t ualandaut omat eds ol ut i onsf orourpr oc es s es ,ands t r i vet okeep out s t andi ngr ec ei vabl esar oundoneper c entatf i s c alyear end.Wear ever ypr oudt obe 1 00per c entpaper l es s !Thi swasoneoft hever yf i r s tgoal sofmyt enur eandwewer e abl et oac c ompl i s ht hatf orFi s c alYear201 9.Ours t af fhasc ons i s t ent l ymetand exc eededgoal swhi c hwear eexc i t edt oc ont i nuedoi ngi naddi t i ont oi mpr ovi ngour depar t ment alpr oc es s es .Wear eal lver ypr oudofwher ewear et odayandexc i t edabout wher ewear eheaded.

Bef or eIc l os e,Iwoul dl i ket ot hankeac honeofyour eadi ngt hi sf oryourunt et her ed s uppor t .Wi t houtgr eatc omr ader i es ,t eamwor k,f ac ul t yands t af fwhos eul t i mat egoal i st hes uc c es sofeac hofours t udent s ,wewoul dnothavebeenabl et oac c ompl i s hs o muc h.Asor gani z at i onall eader s ,youhavet hevi s i on,t heknowl edge,t hewher ewi t hal andt heexper i enc et ohel puspaveourwayi nt ot hef ut ur e.Wel ookf or war dt oFi s c al year2020andal lt hati syett obeac c ompl i s hed.

Ant heaJef f rey Associ at eCont rol l er

s t udent abc . r ut ger s . edu

1

Gett o Know Us

St udentABC / RBHSSt af fPersonnel

StudentABC’sstaffarewelltrainedandalways pr epar edt oai ds t udent swi t hanyques t i onsor c onc er nsaboutt hei rs t udentac c ount .

NumberofEmpl oyees RBHS&Legacy

Wi t ht hemer gerofRut ger sUni ver s i t yandt he Uni ver s i t yofMedi c i neandDent i s t r yofNew Jer s eybec omi ngRBHSi n201 3,s omeempl oyees wer er eas s i gnedt oj oi nt heSt udentABC depar t ment ,henc eal s omer gi ngbot h s t udentac c ount i ngdepar t ment s .

St af fRet reat s

Gi vi ngours t af fac hanc et os t epaway f rom t hei rdayt odayac t i vi t y t of oc usont hebi ggerpi c t ure.

I nFY201 9,St udentABCbegunhos t i ngi t sown s t af fr et r eat s ,t hes er et r eat si nvol vedot hers t af f member sf r om Newar kandCamdenc ampus esand f oc us edont r ai ni ngandt eam bui l di ngac t i vi t i es .

I naddi t i on,s t af fat t endednat i onalc onf er enc es , c ont i nuoust r ai ni ngandexper i enc egi vess t af ft he r i ghtt ool st oas s i s ts t udent s ,f ami l i es ,andot her depar t ment satRut ger s .

Ful lTi meW orkers vs .

St udentW orkers

35

FULLTI ME W ORKERS

11

STUDENT W ORKERS

St udentI nt eract i ons

STUDENT ABC STAFF PERSONNEL

StudentABCmadesomeproactive

e f f or t st obe t t e rc onne c twi t hs t ude nt s ar oundc ampus .Thi si nv ol v e dt abl i ngat t hev ar i ousdi ni nghal l sf orawe e k ar oundc ampus ,be i ngpr e s e ntatt he Ne wSt ude ntOr i e nt at i onf ai randal s o s howc as i ngmor epr i ntmat e r i al satal l t hes t ude ntc e nt e r s .Al s o,par t i c i pat i on i nt heannualRut ge r sDaypr ogr am al l owe ds t af ft oi nt e r ac twi t hf ami l i e s , s t ude nt s ,andal umni .

Cust omerServi ceSurvey

s t udent abc . r ut ger s . edu

3

L t ’ s l k Le e t ’ sT Ta a l k Bi l l i n Bi l l i ng g

Tui t i on & Fees

TheStudentABC billingdepartmentoverseesandregulatestuitionrevenue

exceedi ng$1.

5bi l l i on dol l arsf ort heRut gersUni versi t yst udentpopul at i on, compri si ngof70, 000 undergraduat eand graduat est udent sacrossf ourcampuses.

Thebi l l i ng t eam coordi nat est erm bi l l s,devel opsand enhancesbusi nesspol i ci es and procedures,i ni t i at es cont i nuous i mprovement si nt he di vi si on and assesses busi nessperf ormancet oi dent i f ynew approachest omaxi mi zeproduct i vel y.

Someoftheprocessimprovementsandenhancementsoverthepastyearinclude

execut i ng1098T f ederalregul at i on changes,convert i ngt ui t i on remi ssi on processi ng t o 100% paperl essand cont i nui ng t of ocuson st andardi zi ng pract i ces andi mprovi ngcol l aborat i on amongt wovast l ydi f f erentst udentpopul at i ons, syst emsandst akehol ders.

Thi rdPart yBi l l i ng

Studentshavetheabilityto

aut hori zeat hi rdpart yorparentwi t h accesst ovi ew andmakepayment son t hei rbehal f ,aswel lasvi ew ot her academi candf i nanci ali nf ormat i on.

Ref undsareavai l abl et ost udent saf t ert headd/dropperi odi ft here i sacredi tbal anceon t heaccountduet odi sbursedf i nanci alai d.We encourageal lst udent st osi gn upf ordi rectdeposi ti n ordert o recei veref undsf ast er.

s t udent abc . r ut ger s . edu

TUITION & FEES

TheRut gersUni versi t yTui t i on PaymentPl an ( RUTPP)al l owsyout o payyourt erm bi l lchargesi n conveni entmont hl ypayment s.Thi s pl an i si nt erestf reewi t hmont hl y aut omat i cdeduct i onsf rom apersonal bankaccountvi aecheckpayment .

5

LI e t ’ s al k t ’ s TT i me l l i n gct TBi oC o l l e

Tu C i o t i l o l e n ct & i o F n e s es

TheStudentABCCollectionsteam isresponsibleforthebillingandcollectionof

t heFeder alTi t l eI VandTi t l eVI ICampus Bas eds t udentl oans ,t heRut ger s Uni ver s i t yLoanPr ogr am,andpr ovi desdel i nquentt ui t i onac c ountmanagement f ors t udent swhoar enol ongerenr ol l ed.ECSI ,f or mer l yknownasHear t l and Educ at i onalComput erSys t ems ,I nc . ,pr ovi desal lf eder al l yr equi r edduedi l i genc e, bi l l i ngandpayments er vi c esandhel psas s i s tf or mers t udent swi t hSt udentLoan r epaymentopt i ons .

Ourof f i c ewor ksc l os el ywi t hf or mers t udent sunt i lal lout s t andi ngbal anc esar e pai di nf ul l .Fai l ur et opaymayr es ul ti nt heac c ount ( s )bei ngpl ac edwi t han out s i dec ol l ec t i onagenc y,asr equi r edbyFeder alRegul at i on.Onc et hi soc c ur s , f or mers t udent sdealdi r ec t l ywi t ht hec ol l ec t i onagenc yt owhi c ht heac c ount ( s ) hasbeenas s i gned.Weal s opar t nerwi t ht heNJDi vi s i onofTaxat i on’ sS. O. I .

L pr ogr am,whowi t hhol dsNew Jer s eyI nc omeTaxr ef undsf r om t axpayer swhoowe debt st oSt at eent i t i es .

Wes eekt oi mpr over evenuef orRut ger sbyr ec over i ngdel i nquentac c ount s ,whi l e t r eat i ngf or mers t udent swi t hdi gni t yandr es pec t .

1 37, 462

237, 051

$27, 202, 972.

30

Rut gersUni versi t yAl t ernat i vePl an

Fiscal19,alsointroducedtheRutgersUniversityAlternativePlan

( RUAP)whi c hi sanaut omat edpaymentar r angementf ors t udent swho ar ec ur r ent l yenr ol l edbuts t i l lhaveapas tduebal anc eandwi s ht o enr ol lf ort hef ol l owi ngs emes t er .Thi s3paymentpl angi vess t udent s mor et i met opayt hei rbal anc esbef or et henexts emes t erbegi nsand al l ow t hem t or egi s t erf orc l as s eswhi l et hei rac c ountr emai nsonhol d.

7

W ehave Col l ect i on Agenci es/ Law Fi rms

AgencyA

AgencyB

Tot alcol l ect ed

Tot alcol l ect ed

AgencyC

AgencyD

$667, 1 38.

87

$51 8, 645.

41

Tot alcol l ect ed

Tot alcol l ect ed

AgencyE

AgencyF

$1 24, 965.

80

$1 , 1 62, 409.

37

Tot alcol l ect ed

$441 , 446.

56

AgencyG

Tot alcol l ect ed

$21 2, 691 .

07

1 744 $6, 479, 626.

50 Col l ect i onon I nst i ut i onall oans& del i nquentaccount s

Tot alCol l ect i onAmount

COLLECTIONS

Tot alcol l ect ed

$898, 292.

1 4

t u d e n t a b c . r u t g e r s . e d u s t us d e n t a b c . r u t g e r s . e d u s t u d e n t a b c . r u t g e r s . e d u 7

Let ’ sTal k Bi l l i ng

Fu Tt u u i r t e i o I n mp &r F o e v e e s ment s

On The Hori zon f or FY 20

Housi ngandDi ni ngFeedwi t hEnrol l mentI nf ormat i on PreCol l ect( RUAP)

FRSESi gn

I mageNow t ransi t i on

Summer/W i nt er ProcessOvervi ew

RUHERE& Fi nanci al Responsi bi l i t ySt at ement( FRS)

Del i nquentAccount ProcessOverhaul

Updat et oFRSCol l ect i ngI P Addresses

Cashi ersRFP Cal lCent erRFP

St af fandFacul t yTui t i on Remi ssi on Aut omat i on Lat eFeePol i cy Updat eon W ebsi t e

Cashl essRBHSCashi ers

Mergi ngCashi erServi cesatNewarkMedi calSci enceBui l di ng ( MSB)andSt anl eyS.BergenBui l di ng( SSB)

Seni orManagement

M EET OUR ENTIRE STAFF

s t u d e n t a b c . r u t g e r s . e d u s t u d e n t a b c . r u t g e r s . e d u

s t udent abc . r ut ger s . edu

11

Cashi ers

SAR /Bi l l i ng

Account i ng

M EET OUR ENTIRE STAFF 3 t u d e n t a b c . r u t g e r s . e d u s t us d e n t a b c . r u t g e r s . e d u s t u d e n t a b c . r u t g e r s . e d u1

Ac knowl edgment s : Thi spubl i c at i onwasdes i gnedandproduc edbyt heRut gers Of f i c eofSt udentAc c ount i ng,Bi l l i ng,andCas hi erServi c es Copyri ghtremai nsRut gers ,TheSt at eUni vers i t yofNew Jers ey.

st udent abc. rut gers. edu