Improve collection of student tuition and fees. :: PIP System (SUNY Orange)

Improve collection of student tuition and fees. Print All

Initiative Title	Improve collection of student tuition and fees.
Submitted in Previous Year(s)	No
Critical Information, Notes, Justification, Rationale	SUNY Orange's account receivable balances are too high resulting in increased bad debt and collection expenses. The adage "cash is king" is true and the institution needs to reverse its current trend and improve its liquidity level.
Consequences of this initiative not being funded
Department Goals	Increase institutional liquidity.
Programs
Locations
Estimated Completion Date
Will this initiative span multiple budget years?	No
Importance	High
Funding Source
Created	12/31/2016 12:45 pm
Updated	12/31/2016 1:00 pm

Institutional Goals

Goal	How will the initiative support this institutional goal?
STRATEGIC PLAN 2015-2020 PRIORITY IV: Efficient and Effective Operations: We will anticipate and adapt to changing economic realities while maintaining the infrastructure and resources necessary to foster innovation and develop & deliver high quality programs and services. a: Maximize existing funding streams and explore alternative revenue opportunities to ensure financial stability.

Action Steps

Action Step	Responsible Party	Order
Collaborate with Student Services key stakeholders to plan, execute, and uphold firm tuition and fee payment deadlines.	VPAF, Bursar, Controller, SS staff	1
Communicate, communicate, communicate using various methods of communication to students and parents.	AF & SS staff members	2
Periodically assess and adjust deadline schedule, communications, process, etc. as needed.	AF & SS staff	3

Expected Outcomes

Outcome	Order
Reduced Student Account Receivable balance.	1
Reduced bad debt expense year-end writeoff.	2

Assessment Methods

Method	Description	Other Method	Responsible Party

Resources

INITIAL YEAR COST:	$0.00
RECURRING COST:	$0.00

Equipment

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Facility

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Supply

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Staffing

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Training

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Marketing

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Other

Need	Cost (Initial/Recurring)	Supporting Departments
TOTAL:	$0.00 / $0.00

Prioritization

This initiative is not ready for prioritization.

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Assessment

Date	Department Name	Status	Cost to Date	Funding Source
No results found.