third party sponsors & scholarships f inancial i nformation s ervices c onnecting a nd l eading...
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Third Party Sponsors &
Scholarships
Financial Information Services Connecting And Leading
Business Office
Student goes directly to the entity
of his/her choice
Student applies with entity
representative
If applicant meets the sponsor’s
eligibility criteria,
A written agreement will be prepared
by the corresponding party.
Entity will provide STUDENT or STC with
signed written agreement
Who initiates a third party scholarship sponsor? The student.
For a listing of the most common available Third
Party Assistance Programs which a student can apply
for,see STC
Catalog “Support Services” section.
Who are the Third Party Scholarship Sponsors?
Federal Agencies
Private Agencies
State Agencies
Local Agencies
Scholarship
Contract
Waiver
Exemption
An agreement between a specific student and a third party that state that the third party hasagreed to pay a dollar amount or percentage of the student’s tuition and/or fees.
An agreement by your institution to free a specific student from an obligation required of others, for example, payment of tuition.
An agreement by your institution to relinquish claim for payment from a student for a specific charge.
Is financial aid awarded to a student, for example, by a college, agency or special interest groups.
What are the types of Third Party Sponsor Payment Agreements
A third party agreement constitutes a written, enforceableagreement between an STC student and a third party entityin which the third party has agreed to pay a fixed amount orpercentage of the student’s tuition, fees, and/or otherspecified items.
Remember!
General Rule of Thumb: Please DO NOT make unauthorized verbal/written agreements!!!
The departments that canobtain written agreements are:
Business Office
Financial Aid Department – Academic enrollment
Office of Instruction – Dual Enrollment
The Partnership for Business & Industry Training (PBIT) and Continuing and Professional Education (CPE)
Financial Aid Dept.
A student in an academic program and/or sponsor will forward
written agreement to:
Forwards agreements to the Business Office Provides statement of account
to student, if applicable
Processes benefitaward amount
Reviews written agreementspecifications
PBIT/CPE
A student in a CONTINUING EDUCATION program and/or sponsor will forward written agreement to PBIT or CPE Department
Cashier processes benefit award amount and forwards all documentation to the Business Office
Prepares Request For Student Award Form, BO 5600
Prepares &/or reviews written agreement specifications
Forwards Request For Student Award Form and agreement to Cashier’s Office
Billing and Receipt of Payments:
Business Office bills the third party agencies
Upon receipt of payments, they are applied to corresponding fund accounts (see Chart of Accounts for FOAP (fund/organization/account/program) number
Billing and Receipt of Payments Continuation:
When a sponsor donates monies, the following should be completed:
1. Sponsorship Application (if applicable/see Valley Scholar sample)
2. BO-1500 (Report of Donation form), and 3. BO-6100 (Departmental Deposit
Worksheet) FOAP number must be specified on worksheet in order to post payment to the appropriate account.
4. A TFAMISC will be issued by the Cashier’s Office.
Valley Scholar Sponsorship Application Sample
The bottom section, requires the signature of the employee requesting / receiving gift along with STC’s President and, if applicable, the Board of Trustees.
The middle section (source, purpose, and value of the gift) is required for Financial Reporting.
The top left section of the form is required with the donor information.
Description and specification of the Item (s) contributed is required.
The top right section of the form (donor’s information) is needed in case we need to contact donor.
SOUTH TEXAS COLLEGEReport of Donations
Name of Donor Name of Donor's Contact
Address Title
City, State, Zip Campus
Telephone Number Name of Employee
Item(s) Contributed
Description
Source of Gift (check one): Alumni _____ Parent _____ Faculty _____ Staff _____ Student(s) Other individual Foundation Corporation/Business Religious Oranization Fund-Raising Other Source __________________________________________________________
Purpose of Gift (check one): Unrestricted (Specify one) Cash ______ Equipment (Inv. # ) Supplies _____ Other __________________________________________________________
Restricted (Specify one) Academic Faculty & Staff Compensation Research Public Service & Extension Operation & Maintenance of Physical Plant Library Other ___________________________________________
Capital Purposes (Specify one) Property, Building & Equipment Endowment and Similar Funds - - Unrestricted Income Endowment and Similar Funds - - Restricted Income Loan Funds
Inventory Value $ Donor's Value $
Organitation Name
Fund Code, Organization Code and Account Code
Does this gift require operation and maintenance cost? Y N
If yes, what Organization Code and Account Code will this cost be paid out of? NOTE:
Please attach Acknowledgement letter for President's signature. Submit a copy of the letter along with original Report of Donations form to the Business Office.
Employee Signature Title
Authorizing Signature (President) Title
Authorizing Signature (Board of Trustees) TitleDistribution:
Original - Business Office Copy 1 - President Copy 2 - Inventory Control Copy 3 - Department File
Donation Date
Report of Donations - BO1500
Form Available – Business Office Website
FOAP #
Form available at the Cashier’s Office
Accounts Receivable StaffMarittza Adame – [email protected]
872-4612Emergency Loan Program
•Allied Health Loan Program•General Revenue Corporation
Elena Elizalde – Accounting [email protected]
872-4657•Federal Accounts
•Waivers, •Exemptions
•Valley Scholars (Restricted Accounts)Barnes & Noble Payable (Third Party & Financial Aid Purchases)
A/R Reconciliations
Norma Reyna – Accounting [email protected]
872-4602•Partnership for Business and Industry
Training (Federal / State / Private / Local)•Continuing and Professional Education
(CPE)•Agency Accounts-Allied Health & Student
Insurance•A/P International School
•A/R Reconciliations
Office Fax # 872-4648
Accounts Receivable Staff
Maria Emma Trevino – Collection [email protected]
956-872-4624 •Uncollectible Accounts•Payment Arrangements
•NCO- Financial Systems Inc.•NRI – National Recovery Inc.
•GRC - General Revenue Corporation
Yvonne Harris – Accounting [email protected]
872-4658•State Accounts
•Private•Local
•Scholarships•Dual Enrollment•Contract Training•A/R Reconciliations
Office Fax # 872-4648