Student ABC Annual Finance Report FY22

STUDENT ACCOUNTING, BILLING & CASHIER SERVICES Annual Financial Report Fiscal Year '22

New Brunswick Campus For the months of: July 2021 - June 2022

CONTENTS 03 MISSION,VISION & VALUES

04 ASSOCIATE CONTROLLER'S STATEMENT

05

BY THE NUMBERS

06-07 BILLING & TERM BILLS

08-10 PAYMENT CENTER & REFUNDS

11-12 COLLECTIONS

13-18 ACCOUNTING & RECONCILIATION

19-21 COMMUNICATIONS & MARKETING

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

Integrity: A firm commitment to our

respect for all customers (students,

principles is supported by honest

faculty, staff, administrators and external

and honorable behavior.

contacts) and establishing the notion that students and their needs are our Professionalism/Quality: This

number one priority.

occurs when we provide supreme, first rate information and service

Cohesion/Unity: Cohesion exists

with a high standard of excellence

when we are united with others in

that meet or exceed expectations.

purpose and achievement of one goal.

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

BY THE NUMBERS AMOUNT BILLED

$1.54 billion PAYMENTS RECEIVED

$655 million AMOUNT RECONCILED

$1.57 billion DELINQUENT TUITION COLLECTED

$3.3 million

TERM BILLS & BILLING

PAGE 06

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 areas for process improvement, and align policies and procedures. A few FY 22 accomplishments include the following: The transition from SchoolPay to Nelnet Business Services was completed. Our customers are now able to make payments, set up payment plans, sign up for direct deposit and receive ACH refunds through our new vendor.

A University-wide committee was founded to address non-Board of Governor approved charges, fees, and program-related expenses on the term bill.

Created a billing structure for two new BoGapproved programs – Online Masters in Labor and Employment Relations and Online Professional Masters in Accountancy.

Successful transition of Ph.D. Nursing students to School 16 – New Brunswick.

Division 1 student-athletes now have an automated refund suppression. This improvement eliminated the need for manual staff review and updates the accounts for suppressions.

Direct lending letters are now sent to a shared drive instead of an email inbox; this enhancement eliminates the possibility of an email inbox exceeding its storage limitations and allows Student ABC to be compliant with audit requests.

Implemented an automated solution to charge matriculation continued fees to Student Type P coded accounts.

TERM BILLS & BILLING

PAGE 07

TOTAL AMOUNT BILLED OVER 4 FISCAL YEARS* 2,000,000,000

$1,580,816,467 1,500,000,000

$1,543,170,108

$1,548,385,456

$1,359,165,001

1,000,000,000

500,000,000

0

FY 19

FY 20

FY 21

FY22

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 1,000,000,000

$ 654,650,674

0

$ 640,697,931

250,000,000

$ 851,999,503

500,000,000

$ 684,860,578

750,000,000

FY 19

FY 20

FY 21

FY22

*All data represents both legacy and RBHS

TOTAL AMOUNT OF PAYMENTS RECEIVED* Payment methods include e-check, check, credit cards and cash payments.

PAYMENT CENTER AND REFUNDS

PAGE 08

65 DAVIDSON RD, PISCATAWAY, NJ 08854

PAYMENT CENTER 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

JULY 2021-DECEMBER 2021 APPOINTMENTS & WALK-INS

108

JANUARY 2022-JUNE 2022 WALK-INS ONLY (CASH)

67

JANUARY 2022-JUNE 2022 WALK-INS ONLY (CHECKS)

12

PAYMENT CENTER AND REFUNDS

PAGE 09

PAYMENTS PROCESSED 600,000,000

750,000,000

400,000,000

500,000,000

FY 20

W ir es &

Ch ec ks

ECh ec k

W ir es &

Ch ec ks

Cr ed it Ca rd

0

Ca sh

0 Cr ed it Ca rd

250,000,000

ECh ec k

200,000,000

Ca sh

FY 19

500,000,000

600,000,000

400,000,000 400,000,000

300,000,000

FY 22

FY 21 200,000,000 200,000,000

100,000,000

We encourage students to sign up for direct deposit to ensure faster and safer refunds.

W ir es *

Ch ec ks

*Includes Flywire payments

STUDENT REFUNDS DATA 62,117

FY 19

57,890 75,133

FY 20

This is achieved with social media campaigns, flyers and digital signage in the Student Centers and Residence Halls.

&

Cr ed it Ca rd

ECh ec k

&

W ir es

Ca sh

Ch ec ks

Cr ed it Ca rd

ECh ec k

ACH CAMPAIGN

Ca sh

0

0

59,189

*

67,141

FY 21

39,379 63,052

FY22

48,450 0

20,000

ACH (Direct Deposit)

40,000

60,000

Paper Checks

*Higher number of refunds issued due to Covid-19 relief

80,000

PAYMENT CENTER AND REFUNDS

PAGE 10

STUDENT REFUNDS*

$136,253,166 $96,856,148 33,842

$ ACH REFUNDS PROCESSED

$ PAPER CHECK REFUNDS PROCESSED

NUMBER OF STUDENTS ENROLLED IN ACH

Number of Refunds

Total Refunds Issued

125,000

104,848

$186,965,988

$200,000,000

100,000

$150,000,000 75,000

$100,000,000

50,000

$50,000,000

25,000

$46,143,326

6,654 0

RBHS

Legacy

*All data represents both legacy and RBHS

$0

RBHS

Legacy

COLLECTIONS AND DEBT MANAGEMENT 7,500,000

2,500,000

N FL P N FL P

Pe rk in s

LD S

RB H S

RU LP

7,500,000

H PS L

0

RU LP

Contracted Collection Agencies/Law Firms

5,000,000

PC L

7

FY 20

Pe rk in LD s S/ RS DM De lT ui tio n

COLLECTION ON INSTITUTIONAL LOANS & DELINQUENT TUITION

PAGE 11

FY 21

5,000,000

Pe rk in s

LD S

H PS L

PC L

RB H S

N FL P

be subject to mandatory assignment.

RU LP

20,957 accounts valued at $90.7 M that would

0 Pe rk in s

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

2,000,000

LD S

provided updated guidance on the mandatory assignment of Federal Perkins

4,000,000

RB H S

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)

FY 22

H PS L

Federal Perkins loans recoveries will continue to decline as the total outstanding receivable

6,000,000

PC L

debt relief program or the current litigation is resolved.

0 Pe rk in LD s S/ RS DM De lT ui tio n

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

2,500,000

Pe rk in s LD S/ RS DM De lT ui tio n

Statistical 3 Year Comparison

COLLECTIONS AND DEBT MANAGEMENT

PAGE 12

SET-OFF OF INDIVIDUAL LIABILITY PROGRAM (SOILS) STATISTICS 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.

FY 21 NUMBER OF SET-OFFS

1359

FY 22 1570

GROSS AMOUNT OF SET-OFF

$347,767.88

$598,803.60

NET SET-OFF AMOUNT

$331,329.49

$568,863.42

COLLECTION FEE

$16,438.39

$29,940.18

FISCAL YEAR 22 ACCOUNTING HIGHLIGHTS

ACCOUNTING AND RECONCILIATION

PAGE 14

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.

ACCOUNTING AND RECONCILIATION

PAGE 15

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.

ACCOUNTING AND RECONCILIATION

PAGE 16

Tableau SAR Dashboards

Course Fee Dashboard The dashboard summarizes the amount charged for each course and its distribution along the Offering Unit Cd 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.

ACCOUNTING AND RECONCILIATION

PAGE 17

Tableau SAR Dashboards

Outstanding Balance & Amount Billed Dashboard The dashboard provides an overview of Amount Billed (tuition, fees, housing and dining charges) 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 levels (campus, schools, etc.).

ACCOUNTING AND RECONCILIATION

PAGE 18

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.

FY 22 ACCOUNTING DATA BY THE NUMBERS

$1.6 Billion SAR* ACCOUNTS RECONCILED

6,740 CASH JOURNALS APPROVED

655 STUDENT WIRES PROCESSED

369 CASH JOURNAL TRAININGS

44 ACCOUNTS RECONCILED

*Student Accounts Receivables

COMMUNICATIONS & MARKETING

PAGE 19

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.

Twitter 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.

COMMUNICATIONS & MARKETING

PAGE 20

SOCIAL MEDIA OVERVIEW Across our social media channels, our efforts focus on keeping students up-to-date with important deadlines and processes while promoting awareness of the resources available to them. We also create posts for holidays and special occasions to engage with followers and promote inclusivity.

SOCIAL MEDIA CAMPAIGNS 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.

COMMUNICATIONS & MARKETING

PAGE 21

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!

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