Welcome to the February 2021 University Bursar Bulletin! This month will focus on the OBFS Receivable Policy.
Spotlight on the OBFS Receivables Policy
University Bursar and University Accounting and Financial Reporting (UAFR) share the responsibility to:
- Develop and publish receivables policies and procedures
- Provide general supervision of receivables operations
- Develop, monitor, and maintain receivables processes and systems
- Review, approve or deny, and track exemption requests from the requirement to use Banner AR
All units must comply with all state, University of Illinois System, and accounting requirements for receivables as published in the OBFS Receivables Policy. Banner AR facilitates this compliance. Therefore, all units must record their receivables in Banner AR or request and receive a Banner AR Exemption from OBFS. However, even units that have an approved Banner AR Exemption must comply with these requirements and provide the necessary data to OBFS units that report the U of I System's receivables.
If your unit is currently processing receivables outside the Banner Accounts Receivable module (Banner AR) and has not received an approved Banner AR Exemption, or if you are new to receivables processing, please email aroperations@uillinois.edu to request Banner AR training. If after exploring Banner AR you determine it cannot effectively serve your unit’s unique receivables requirements, click here to request an exemption from using Banner AR.
Within the next month, University Bursar will begin contacting unit representatives who reported receivables on the FY2020 Fact Sheet for which no Banner AR Exemption has been approved. To pre-empt that call or if you have any other questions about the OBFS Receivables Policy, please contact aroperations@uillinois.edu.
