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Deposits, Refunds, Solicitation
Revised: 07/08
FSS/PPS 03.01.03
Issue No. 5
Reviewer: Treasurer
Effective Date:08/01/91
01. PURPOSE
| 01.01 | This FSS/PPS establishes policy for the collection, refund, donation, and distribution of general deposits. |
02. DEFINITION
| 02.01 | Section 54.502, Education Code, states, An Institution of higher education may collect a reasonable deposit in an amount not to exceed $100 from each such student to insure the institution against any losses, damages, and breakage for which the student is responsible and to cover any other amounts owed by the student to the institution. The institution shall return to the student the deposit, less any such amounts owed to the institution by the student. The deposit must be returned within a reasonable period after the date of the student 's withdrawal or graduation from the institution, not to exceed 180 days, that provides the institution with sufficient time to identify all amounts owed and to determine that the student does not intend to enroll at the institution in the semester or summer session immediately following the student's withdrawal or graduation or, if the student withdraws or graduates in the spring semester, in the next fall semester. | ||||||
| 02.02
| Section 54.5021, Education Code was amended to read:
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| 02.03 | On August 4, 1993 the Board of Regents, Texas State University System authorized Texas State to transfer the general property deposit reserve balance to a quasi-endowment account. The Board also authorized the President to transfer funds annually from the reserve for the award of need based scholarships. |
03. POLICY
| 03.01 | Each student, upon enrollment in Texas State University, is required to make a general deposit of $50, which must remain on deposit with the university throughout his/her career as an Texas State student. |
| 03.02 | Any unpaid current charges will be deducted from the deposit before a refund is made. |
| 03.03 | The refunds will be made upon request, less any charges against the deposit, to the student at the time the student ceases his/her career as a student. General deposits will be credited against outstanding charges for students that are not enrolled in a subsquent long semester (Fall or Spring). |
| 03.04 | General deposit refunds are requested by submitting a properly completed general deposit refund request form to Student Business Services. The form is available on the SBS Website. |
| 03.05 | The Alumni Association at Texas State University is the only organization authorized to solicit for general deposits. However, the Alumni Association may only solicit the gift of the general deposit designated for the Alumni Association, or unrestricted to the university. |
| 03.06 | Any General Deposit which remains without call for refund for a period of four years from the date of last attendance at this university shall be forfeited and the deposit become a part of and operative to the permanent use and purpose of the University Student Deposit Scholarship Fund. |
| 03.07 | In July of each year the Student Business Services office will deposit the forfeited deposits to the GPD interest and forfeits account, fund 30203410XX/ CC 1040000068. At the beginning of the next fiscal year the General Accounting Office (GAO) will process a JV to transfer the forfeits and interest earned on active deposits to the need based Scholarship Account, Fund 4700351000/ CC 1328110020/ IO 5500000041. GAO will also coordinate a corresponding budget transfer. |
04. MAJOR RESPONSIBILITIES ASSOCIATED WITH THIS PPS
| 04.01 | Major responsibilities for routine assignments associated with this PPS include the following:
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