Section III - Business & Financial Matters

III L

To state the College's policy on dealing with uncollectible accounts

The College will write off uncollectible accounts in the following manner:

For accounts less than $50.00, and over one (1) year old, the college will write off those accounts once a year.
For accounts over $50.00 and over three (3) years old, (which is the statute of limitations on most account receivables), the college will abide by the Uncollectible Accounts Policy by the Attorney General’s Office which states, “accounts should be written off any agency’s financial accounting records when all collection procedures have been conducted without results and management deems the accounts uncollectible. After write off, these accounts shall continue to be submitted to the Department of Revenue for debt setoff proceedings.”

Adopted: 01/17/2008

Revised: 05/15/2008