Year
Annual Financial Report
New Brunswick Campus
For the months of: July 2021 - June 2022
Fiscal
'22 STUDENT ACCOUNTING, BILLING & CASHIER SERVICES
M I S S I O N , V I S I O N & V A L U E S 0 3 A S S O C I A T E C O N T R O L L E R ' S S T A T E M E N T 0 4 B Y T H E N U M B E R S 0 5 P A Y M E N T C E N T E R & R E F U N D S 0 6 - 0 7 A C C O U N T I N G & R E C O N C I L I A T I O N 0 8 - 1 0 C O L L E C T I O N S 1 1 - 1 2 B I L L I N G & T E R M B I L L S 1 3 - 1 8 CONTENTS C O M M U N I C A T I O N S & M A R K E T I N G 1 9 - 2 1
mission
To support the educational goals of all students through the delivery of outstanding customer service and accurate information in the shortest time possible
vision
To be an integral part of Rutgers University by administering the highest level of customer service with every customer/student encounter.
values
Respect/Student-Centered: Having respect for all customers (students, faculty, staff, administrators and external contacts) and establishing the notion that students and their needs are our number one priority.
Cohesion/Unity: Cohesion exists when we are united with others in purpose and achievement of one goal.
Integrity: A firm commitment to our principles is supported by honest and honorable behavior.
Professionalism/Quality: This occurs when we provide supreme, first rate information and service with a high standard of excellence that meet or exceed expectations.
Efficiency and Continuous Improvement: We exercise efficiency and continuous improvement to best enhance the department and to align with the use of new and improved technology
OUR ASSOCIATE CONTROLLER'S STATEMENT
It is always quite a humbling experience in closing a fiscal year, but the last two years have really been unique as we faced many challenges in the world. As the COVID-19 pandemic is slowly coming to a close with many other challenges still lingering, it always gives me great pause to acknowledge the Student ABC staff and all the hard work and dedication that was put in to accomplish our goals.
Last year we launched our new Payment Center within the redesigned Dr. Samuel Proctor Hall on the Busch Campus. The Payment Center consolidates Rutgers Legacy and RBHS cashier operations formerly offered at Records Hall (Legacy), Newark Medical Science Building (RBHS), and Piscataway (RBHS). This initiative was the result of consolidated payment activity analyses coupled with the desire to maintain student and staff safety and decrease cash flow following the onset of the COVID-19 pandemic.
We are also happy that the creation of our dedicated student refunds team has been successful in working towards more automated solutions to deliver refunds in a timely manner.
We worked with our colleagues in the Controller’s Office to create a data dashboard in Tableau that will be rolled out to departments across the University to make data even more readily available to our partners.
As we continue to work on enhancements to support a better student experience, we hope that we will reduce the number of inquiries from students and families so that they can concentrate on their educational goals.
I continue to be thankful to all the staff in Student ABC for their strength and tenacity! As we continually improve our processes, we can expect even greater results for our customers!
- Anthea Jeffrey
$1.54 billion AMOUNT BILLED AMOUNT BILLED PAYMENTS RECEIVED $1.57 billion AMOUNT RECONCILED $3.3 million DELINQUENT TUITION COLLECTED BY THE NUMBERS $655 million
TERM BILLS & BILLING
BILLING HIGHLIGHTS:
As the University transitioned to a “new normal” after the unprecedented pandemic outbreak, Student ABC was able to continually enhance automated solutions for our students, families and stakeholders, identify s for process improvement, and align policies and edures. A few FY 22 accomplishments include the wing:
he transition from SchoolPay to Nelnet Business ervices was completed. Our customers are now ble to make payments, set up payment plans, sign p for direct deposit and receive ACH refunds hrough our new vendor. University-wide committee was founded to ddress non-Board of Governor approved charges, ees, and program-related expenses on the term bill. reated a billing structure for two new BoGpproved programs – Online Masters in Labor and mployment Relations and Online Professional asters in Accountancy. uccessful transition of Ph.D. Nursing students to chool 16 – New Brunswick. ivision 1 student-athletes now have an automated efund suppression. This improvement eliminated he need for manual staff review and updates the ccounts for suppressions. irect lending letters are now sent to a shared drive nstead of an email inbox; this enhancement iminates the possibility of an email inbox xceeding its storage limitations and allows Student BC to be compliant with audit requests. mplemented an automated solution to charge matriculation continued fees to Student Type P oded accounts.
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PAGE 07 TOTAL AMOUNT BILLED OVER 4 FISCAL YEARS*
FY 19 FY 20 FY 21 FY22
0 TOTAL AMOUNT OF PAYMENTS RECEIVED* Payment methods include e-check, check, credit cards and cash payments. $1,548,385,456 $1,580,816,467
*All data represents both legacy and RBHS $ 684,860,578 $ 851,999,503 $ 654,650,674
$ 640,697,931 TERM BILLS & BILLING
FY 19 FY 20 FY 21 FY22 2,000,000,000 1,500,000,000 1,000,000,000 500,000,000 0
1,000,000,000 750,000,000 500,000,000 250,000,000
$1,359,165,001
$1,543,170,108
The total number of bills sent was 82,699 The semester with the most bills sent was Fall 2021 followed by Spring 2022. There were 9,438 unique tuition payment plans during FY 22
Due to Covid-19 restrictions, cash payment appointments were available for students to book online through December 2021. As of January 2022, the Payment Center is available for walk-ins only and online appointments are no longer offered.
PAYMENT CENTER BOOKINGS NUMBER OF BOOKINGS PAYMENT
CENTER
APPOINTMENTS & WALK-INS JULY 2021-DECEMBER 2021 108 WALK-INS ONLY (CASH) JANUARY 2022-JUNE 2022 67 PAGE 08 PAYMENT CENTER AND REFUNDS 65 DAVIDSON RD,
WALK-INS ONLY (CHECKS) 12 JANUARY 2022-JUNE 2022
PISCATAWAY, NJ 08854
E-Check CreditCard CashChecks&Wires
0 E-Check CreditCard CashChecks&Wires
0 0 20,000 40,000 60,000 80,000 FY19 FY20 FY21 FY22 PAYMENTS PROCESSED STUDENT REFUNDS DATA FY 20 FY 21 ACH(DirectDeposit) PaperChecks 62,117 57,890 75,133 59,189 67,141 39,379 ACH CAMPAIGN We encourage students to sign up for direct deposit to ensure faster and safer refunds. This is achieved with social media campaigns, flyers and digital signage in the
Centers and
Halls. PAGE 09 PAYMENT CENTER AND REFUNDS * *Higher number of refunds issued due to Covid-19 relief E-Check CreditCard CashChecks&Wires*
0 FY 22 63,052 48,450 *Includes Flywire payments E-Check CreditCard CashChecks&Wires 600,000,000 400,000,000 200,000,000 0 FY 19
750,000,000 500,000,000 250,000,000
600,000,000 400,000,000 200,000,000
Student
Residence
500,000,000 400,000,000 300,000,000 200,000,000 100,000,000
$ PAPER CHECK REFUNDS PROCESSED $96,856,148 $136,253,166 33,842 STUDENT REFUNDS* PAGE 10 PAYMENT CENTER AND REFUNDS $ ACH REFUNDS PROCESSED NUMBER OF STUDENTS ENROLLED IN ACH RBHS Legacy 125,000 100,000 75,000 50,000 25,000 0 Number of Refunds 6,654 104,848 RBHS Legacy $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 Total Refunds Issued $46,143,326 $186,965,988 *All data represents both legacy and RBHS
Statistical 3 Year Comparison
In response to the COVID-19 emergency, The Department of Education paused loan payments and set interest rates to 0% for eligible federal student loans The student loan payment pause has been extended to June 30, 2023, or until the U.S. Department of Education is permitted to implement the debt relief program or the current litigation is resolved
Federal Perkins loans recoveries will continue to decline as the total outstanding receivable balance is reduced due to ongoing collection efforts. Additionally, The U.S. Department of Education's Aug 27, 2021 Electronic Announcement (EA ID: GENERAL-21-53) provided updated guidance on the mandatory assignment of Federal Perkins Loans The Secretary requires all institutions to assign all Perkins Loans that have been in default for more than two years by June 30, 2023 Rutgers University currently holds 20,957 accounts valued at $90 7 M that would be subject to mandatory assignment.
PerkinsLDS/RSDMDelTuition PCL HPSL LDS RBHSPerkins RULP NFLP 7,500,000 5,000,000 2,500,000 0 PerkinsLDS/RSDMDelTuition PCL HPSL LDS RBHSPerkins RULP NFLP 7,500,000 5,000,000 2,500,000 0 FY 21 PerkinsLDS/RSDMDelTuition PCL HPSL LDSRBHSPerkins RULP NFLP 6,000,000 4,000,000 2,000,000 0 FY 22 7 Contracted Collection Agencies/Law Firms PAGE 11 FY 20 COLLECTIONS AND DEBT MANAGEMENT COLLECTION ON INSTITUTIONAL LOANS & DELINQUENT TUITION
SOIL withholds New Jersey Income Tax refunds and property tax relief payments from taxpayers who owe debts for New Jersey taxes as well as Municipal, State, and Federal agencies.
SOIL Process: If an agency claims a taxpayer owes a debt, and a tax refund or benefit payment is available, NJ SOIL will notify the taxpayer by mail. The notice will inform taxpayers of:
The amount of tax refund or benefit payment available to pay that debt; The name of the agency or agencies that requested payment and each agency’s contact information; and Taxpayers have 35 days to contact the agency with questions, disputes or proof of payment
NUMBER OF SET-OFFS GROSS AMOUNT OF SET-OFF NET SET-OFF AMOUNT COLLECTION FEE FY 21 PAGE 12 COLLECTIONS AND DEBT MANAGEMENT 1359 $347,767.88 $331,329.49 $16,438.39
SET-OFF OF INDIVIDUAL LIABILITY PROGRAM (SOILS) STATISTICS FY 22 1570 $598,803.60 $29,940.18 $568,863.42
FISCAL YEAR 22
ACCOUNTING HIGHLIGHTS
Tableau SAR Dashboards & Reporting
In collaboration with units across the University and the central analytics team, we created Student Accounts Receivable Dashboards in Tableau. Tableau Analytics helps us monitor data efficiently to preserve accuracy, assist us in monitoring compliance with university policies on cash flow and revenue, and manage collectability. It emphasizes the importance of student accounting policies and procedures in student success. It is crucial for the University to make data-informed decisions in supporting student success, and to effectively and efficiently allocate limited resources. SAR Dashboards provide access to data trends on tuition, fees, housing, dining, and outstanding balances.
We made improvements to reporting through Tableau on student accounting data. We created several reports that provide reporting efficiencies, enhancements, and process improvements. For example, we have created reports for athletics to assist accurate and according-to-policy student refund processes, a Title IV report to assist student refund processing, and most recently, we made summer/winter data available in Tableau. Tableau provides University-wide ad hoc reporting on student accounting data. It encourages units to use student accounting data to closely monitor their student populations.
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ACCOUNTING AND RECONCILIATION
Tableau SAR Dashboards
Housing/Dining Charges Dashboard
The dashboard provides housing and dining charges for the current fiscal year and the selected as-of-date parameter filter. The horizontal bar chart groups these charges under three campuses – Camden, New Brunswick, and Newark. Further drilldown on the housing and dining charges is shown in a table view at the bottom section of the dashboard.
PAGE 15 ACCOUNTING AND RECONCILIATION
Tableau SAR Dashboards
Course Fee Dashboard
The dashboard summarizes the amount charged for each course and its distribution along the Offering UnitCd for a selected Fiscal Year and Term. The count of students associated with the course fee is shown in the visual analysis. The dashboard can be drilled down from Subject Cd to Course Title or to a specific U.D.O.L.F.B within the Offering Unit Cd.
PAGE 16 ACCOUNTING AND RECONCILIATION
PAGE 17 ACCOUNTING AND RECONCILIATION
dining charges)
levels
The dashboard provides an overview of Amount Billed (tuition, fees, housing and
and Outstanding Balance (summary of Amount Billed minus paid at student level) at each campus/school for a selected Fiscal year, Term and an as-of-date. It also has comparisons of Amount Billed for the chosen fiscal year against the previous fiscal year and computations of Amount Billed versus Amount Paid at multiple
(campus, schools, etc.).
Outstanding Balance & Amount Billed Dashboard
Tableau SAR Dashboards
New Reconciliation Processes - Nelnet One Time Student Payment
This fiscal year, the accounting team focused on implementing new reconciliation processes for one-time student payment, e-check payment, and credit card payment with Nelnet. Nelnet was onboarded as the longterm solution for one-time student payments. We worked with Nelnet and Payment Springs, the credit card processor for Nelnet, on developing reporting and processes for smooth transfer of funds collected on the student Term Bill. The accounting team created interface reconciliation processes, ensured all funds were being accounted for, and revenues transferred to the University accordingly.
PAGE 18 ACCOUNTING AND RECONCILIATION FY 22 ACCOUNTING DATA BY THE NUMBERS $1.6 Billion SAR* ACCOUNTS RECONCILED 44 ACCOUNTS RECONCILED 369 CASH JOURNAL TRAININGS 6,740 CASH JOURNALS APPROVED 655 STUDENT WIRES PROCESSED *Student Accounts Receivables
COMMUNICATIONS & MARKETING
SOCIAL MEDIA UPDATES
These updates focused on making information more accessible and user-friendly.
Linktree
Linktree allows us to compile important links for students in one place. This makes finding relevant information quicker and easier. It is also helpful when pointing followers to a specific site on platforms (i.e. Instagram) that don't have capability for clickable links.
Our new Twitter account helps us deliver information to students in a concise manner. It also allows us to interact with other university departments and organizations to share relevant information for students.
PAGE 19 COMMUNICATIONS & MARKETING
SOCIAL MEDIA OVERVIEW
PAGE 20 COMMUNICATIONS & MARKETING
our social media channels, our
resources
Across
efforts focus on keeping students up-to-date with important deadlines and processes while promoting awareness of the
available to them. We also create posts for holidays and special occasions to engage with followers and promote inclusivity.
Nelnet ACH Campaign: Worry Free, Paper Free, Wait Free Rutgers Tuition Payment Plans (RUTPP): Promote awareness of semester and annual payment plans and deadlines to enroll. GradGuard Epidemic Coverage Endorsement: Encouraging students to purchase tuition insurance through GradGuard by highlighting coverage for COVID-19 and other epidemics.
MEDIA CAMPAIGNS
SOCIAL
STUDENT ABC STAFF NEWSLETTER
Each month, a newsletter is sent to all Student Accounting staff in New Brunswick, Camden, and Newark. Each newsletter has a fun theme that corresponds to the month or season. Featuring fun facts about the month, staff birthdays and celebrations, entertainment recommendations, and shout-outs in addition to updates within our department, the purpose of the newsletter is to engage and inform staff across the three campuses.
STUDENT ABC STAFF RETREAT: SUMMER 2022
The retreat is back! On June 16th, 2022, staff from New Brunswick, Newark, and Camden gathered in-person after two years of virtual retreats to present new information, eat delicious food, play Family Feud, and walk the red carpet!
PAGE 21 COMMUNICATIONS & MARKETING
Acknowledgements:
This publication was designed and produced by the New Brunswick Office of Student Accounting, Billing and Cashier Services.
Copyright remains Rutgers, The State University of New Jersey. Visit our website studentabc.rutgers.edu
