Budget and Finance Policy and Procedure Office
A Division of The Office of Budget and Finance
A Division of The Office of Budget and Finance
The University Libraries system consists of the University Park libraries and the Commonwealth Campus Libraries. Students, faculty, staff, and the general public have use of the University Libraries system. Patrons are held responsible for all materials charged out on their ID cards or their library cards. All the libraries utilize the on-line lending system, which identifies the patron who is using library materials. For further information, see policies on the Library website.
Unless otherwise specified, references to "Finance/Business Office" mean the Finance/Business Office at a Commonwealth Campus location.
Monies (cash, checks, money orders, credit cards, and Journal Entries (JEs)) are collected for overdue or lost library material at all University libraries. This procedure provides the fiscal controls, reporting requirements reconciliation of the collected monies, and guidelines for processing student charges/credits.
When monies are collected, the library employee processes the transaction via the online lending system. The predominant method for providing a copy of the receipt to the patron is to print two copies of the system-generated receipt, one of which is given to the patron and the other is retained and filed by the library employee. At some campus/college locations, a pre-numbered receipt book is used, with the white copy being given to the patron, yellow to the Finance/Business Office, and pink remaining in the book. If the online lending systems is unavailable, then the Fee Collection and Adjustment Form (Exhibit "A") is used. System generated receipts for canceled or forgiven fees should be forwarded to the University Park Library Business Office.
The library employee's supervisor must initial any adjustments made by the library employee either on the system-generated receipt, or on the Fee Collection and Adjustment Form; whichever is used.
At the end of the business day, all monies and the corresponding receipt; whether that be the system generated receipt, pre-numbered receipt, or the Fee Collection and Adjustment Form (Exhibit "A") are secured/safeguarded in accordance with Policy FN01 Cash Revenues. When monies collected are over $500 (or at least once a week, per Policy FN01 Cash Revenues), the library employee at the Commonwealth Campus Libraries follows the procedure that was agreed upon with their respective campus Finance/Business Office. UP library employees complete, in duplicate, a Report of Daily Receipts (Exhibit "B"). The UP library employee signs the "Submitted By" area, evidencing the submission of the funds collected and their completion of the report. All monies, both copies of the Report of Daily Receipts, system generated receipts or the Fee Collection and Adjustment Forms (Exhibit "A"); whichever is used are placed in a deposit bag and transported to the University Park Library Business Office. Monies transported at Commonwealth Campus and University Park Libraries are done so in accordance with Procedure Procedure CR2004 Accountability for Transfer of Items of Value (Except Equipment).
The Finance/Business Office employee opens the deposit bag, verifies the cash count in the presence of the library employee who represents the area that collected the monies, and follows the procedure that was agreed upon with their respective Commonwealth Campus Library. The University Park Library Business Office employee opens the deposit bag, verifies the cash count in the presence of the library employee who represents the area that collected the monies and signs the "Cash Count Verified By" area of the Report of Daily Receipts, confirming the count. Any discrepancies are immediately brought to the attention of the Library Supervisor, investigated, resolved, documented, and retained with the Report of Daily Receipts (Exhibit "B") of the day.
Once verified/signed, one copy of the Report of Daily Receipts (Exhibit "B") is returned to the applicable library or department for their record keeping.
Libraries Strategic Technologies has programmed the online lending system to generate a report called "Cash Report per Workstation" daily. This report is available only to those staff within the University Park Library Business Office that have been authorized to access this information. Monies collected and adjustments made are recorded in the collected/adjusted columns (e.g., individual returns material that was previously lost and was assessed a fee, etc.) The University Park Library Business Office accesses and reconciles this report to the Report of Daily Receipts (Exhibit "B") and support documents that were processed for that date. Any discrepancies are resolved with the applicable library employees’ supervisors.
The Finance/Business Office deposits the monies in accordance with Policy FN01 Cash Revenues and Procedure FN2001 Processing Cash Revenues, as applicable.
Additionally, a Journal Entry for Incoming Funds is prepared. The Journal Entry document number is recorded on the applicable deposit ticket. The applicable receipt: system generated, pre-numbered receipt or Fee Collection and Adjustment form (Exhibit "A") and the original supporting documentation is attached to the deposit ticket. The dates of the supporting documentation are subsequently recorded in the detail section of the Journal Entry for Incoming Funds for audit trail purposes.
All Journal Entries for Incoming Funds are submitted via SIMBA for review/approval to ensure that funds are deposited to the correct cost center and that supporting documentation is attached.
Monies collected by Commonwealth Campus locations are retained either by the specific Commonwealth Campus Libraries cost center or by the Commonwealth Campuses cost center 4170510006 regardless of the home location of the item. Monies collected by University Park Libraries are retained by University Park, regardless of the home location of the item. Hershey and Dickinson Libraries, including Dickinson at University Park, retain monies collected at those locations.
After each semester, notification about unpaid fees and fines owed by students (undergraduates and graduates) is electronically sent to the Bursar for billing to the student's account. If a student's bursar account is closed, a LionPATH exception rejection report (not exhibited) is automatically generated to indicate that the account is closed.
University Park Library Billing Specialist will verify that unpaid bills rejected by the Bursar will remain on the patrons’ library accounts. If students do not re-enroll with the University, these unpaid accounts will be electronically forwarded to a debt collection agency in accordance with the Libraries' standard debt collection procedure for non-PSU patrons.
Students returning materials for which replacement (lost item) and processing charges have been assessed against their student bursar accounts may be entitled to a credit based upon compliance with University Libraries’ current lending policy. Upon return notification, the University Park Library Billing Specialist identifies items returned and patrons eligible for credit at any library location, and credit information is forwarded to staff in the University Park Library Business Office for processing. In some cases, a credit may be "rush" processed to facilitate student registration.
The credit will be processed via the LionPATH system.
The University Park Library Business Office runs queries in LionPATH to identify income received from the Bursars Office via a SIMBA JE. Funds are transferred via the SIMBA JE when a student makes a payment for their Library fee that had been transferred to the Bursar at the end of the semester (as noted in Student Charges).
Monthly, the University Park Library Business Office reconciles the SIMBA JE to the LionPATH query. At Commonwealth Campus locations, the income is credited to cost center 4170510006 GL 47004000. At University Park, it is credited to cost center 4170110003, GL 47004000.The student’s library affiliation in Workflows determines the allocation of income between University Park and the Commonwealth Campus Libraries.
See Procedure FN2002 Processing Returned Checks for complete details on this business process.
Violations of University policy should be reported to the appropriate supervisor, unit manager, Human Resources representative, or the office responsible for the relevant policy or procedure. If these channels are insufficient or unavailable, individuals may submit an anonymous report through the Penn State University Hotline, accessible via the Reporting at Penn State website.
Business Areas or units that do not follow the guidelines set forth in this procedure will, at a minimum, be held responsible for any fines, penalties, or losses.
The Financial Officer is responsible for ensuring that procedures pertaining to the accountability and safeguarding of all cash receipts, cash funds, and other assets are established and followed in accordance with approved University policies and procedures. Regular audits relating to advances, cash, travel, equipment accountability, and other expenditures provide a means to protect University assets. The Financial Officer is responsible for working with Internal Audit when audits are being performed in the administrative area. Audits relating to sponsored activities or other audits performed by external auditors may also be performed. The Financial Officer would also be responsible for working with the external auditor and/or a central university office related to these procedures.
University Records retention must be managed in accordance with Policy AD35 University Archives and Records Management, and retention schedules.
Additional questions may be directed to the Office of Records Management.
For questions, additional detail, or to request changes to this procedure, please contact the University Libraries Finance Office.
To request changes to this procedure please contact the Policy and Procedure Office by submitting a Technical Support Request Form.
April 18, 2024