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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Bill Greene, Chief Financial Officer |
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PRESENTER(S): |
Troy Bingham, Comptroller |
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TITLE:
title
UTA Policy - UTA.02.06 Accounts Receivable Adjustments Policy
end
AGENDA ITEM TYPE:
UTA Policy
RECOMMENDATION:
Adopt UTA Policy No UTA.02.06 Accounts Receivable Adjustment Policy and rescind prior Corporate Policy 3.1.9 Write-Off Authority
BACKGROUND:
This policy UTA.02.06, would replace Corporate Policy 3.1.9 Write-off Authority Policy, which allows a department that has submitted a bill/invoice to an external party to UTA for services rendered by UTA, to nullify or modify the amount of that bill/invoice. These changes can restate previously reported revenues of UTA, so these will be reviewed by the Comptroller for reasonableness and approved by different levels of UTA based on dollar amount of the adjustment.
This policy adjustment is part of a package of coordinated changes aligning individual purchasing and revenue authority limits. This policy’s limits are consistent with Policy No. 3.1.1 Spending Authority as amended into UTA.02.01.
DISCUSSION:
UTA 02.06 Accounts Receivable Adjustment Policy will be updated with the following changes:
• Approval thresholds agree with UTA.02.01 Spending Authority Policy.
• Clarify requirements for a reason for the change in writing.
ALTERNATIVES:
If this policy is not adopted the current Corporate Policy 3.1.9 Write-Off Authority would remain in effect.
FISCAL IMPACT:
None
ATTACHMENTS:
UTA Policy UTA.02.06 Accounts Receivable Adjustments