Disbursements
Distribution of Domestic Student Fees
Fee Income collected for Domestic fee paying Undergraduate and Postgraduate students are transacted against the Student Fee Control and Income clearing accounts within the General Ledger. These are subsequently distributed to Faculties by Revenue Services at predetermined intervals for Semester 1 and 2 of each academic year.
 |
Semester 1 | |
| 30 March 2012 | Accrual | |
| 1 June 2012 | Actual (March Accrual Reversed) | |
|
Semester 2 | |
| 24 August 2012 | Accrual | |
| 7 December 2012 | Actual (August Accrual Reversed) |
A final Disbursement adjustment for the current academic year is facilitated by close of Period 12 in January of the following year.
The preparation of journal transfers to distribute fee income to Faculties is generated on the basis of disbursement reports run through FlexSIS.
Faculties are provided with schedules and listing of students to substantiate these transfers as they occur. These reports are forwarded to the Finance Directors and approved nominees for each Faculty.
| Note 1: | Disbursement of International and Summer School fee income is administered by the International Office and Summer School Office respectively. |
| Note 2: | Accruals are based on liabilities generated for all enrolled Domestic Students at each prescribed Disbursement run dates. This journal will be reversed at prescribed dates to coincide with the Actual Disbursement which is generated based on amounts actually received and recorded in FlexSiS. |