REV 11/07

ASB Manual Section 9.2

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Overview

There are two types of refunds, a refund of revenue, and a refund of expenditure.

A refund of revenue is refunding money that was previously receipted and deposited by

the ASB. Schools enter refunds in the Point of Sale (POS) Receipting System, prepare

ASB Revenue Refund Authorization Forms, and submit them to Accounting for

processing and issuance of a refund warrant/check. Processing can take up to 1 to 2

weeks depending on timelines by which properly completed paperwork is received in

the Accounting Office. Cash refunds are prohibited.

A refund of expenditure is when the ASB returns merchandise to a vendor and the

vendor issues a credit invoice or refund check. Credit invoices should be forwarded to

the Accounting Office. Vendor refund checks should be receipted and deposited using

the Point of Sale (POS) Receipting System. Use the same ASB club or activity budget

account code as was used on the original purchase. Some minimum set-up may be

required in the POS for the proper code. Contact Accounting for Assistance.

Guidelines and Restrictions for Refunds of Revenue:

•

Cash refunds are prohibited. DO NOT give any money from the till.

•

A “Refund” must be entered in the POS to flag the receipt.

•

An ASB Revenue Refund Authorization Form must be completed and submitted

to the District Accounting Office.

•

Accounting will verify the receipt numbers listed on the refund authorization, to

confirm the funds were deposited, and that there are no outstanding obligations

in the POS (such as a fine, fee, or returned check/NSF obligation).

•

If the POS Receipt System reflects an outstanding obligation against a student’s

account, Accounting will reduce the refund by the amount of the outstanding

obligation, and will make appropriate notification to the payee.

•

Accounting will generate a refund warrant and mail it directly to the payee.

Special Directions for Revenue Refund Authorization Form:

•

Payee Name, Student Name, Address and Phone Number: Please provide the

complete name, address and phone number of the person entitled to the refund.

In most cases, refunds should be payable to the parent/guardian, not the student.

•

Reason for Refund: Explanation of reason for refund.

•

Account Code: Use the same code as was used on the original receipt.

•

Original Receipt # Reference: Look up the original receipt number in the POS

Receipting System and list the number on the form. Additional documentation

may be necessary if the entry of the original receipt was done in summary form

and was not tied to the individual student’s account, or is otherwise not sufficient

to identify the individual student’s payment.

•

Cash or Check Box

: For Returned Check/NSF verification purposes, please

indicate whether the original receipt’s payment method was cash or check.

•

POS Refund Receipt #: Process a refund in the POS Receipting System and list

the newly generated refund receipt number on the form.

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REV 11/07

ASB Manual Section 9.2

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•

Approval Signatures: The form should be signed and dated by all four of the

required ASB approval signatures.

•

Submit to Accounting for processing.

Frequently Asked Questions

:

Question

: I have a refund request for a family who paid for two yearbooks by

mistake. Only one was ordered for them, and they are requesting a refund of the

second payment. Unfortunately, it is late June and students aren’t around to sign

their approval. Do I really have to get a student signature?

Answer

: Yes the student signature is still required by ASB laws, and we are unable

to waive it, or pay it without it, even though the ASB is obviously obligated to refund

the money, and the transaction is likely to be delayed for quite a while until a student

can sign. A recommendation would be to plan to resolve these while students are

available to approve the paperwork, and inform those who come about when

students are no longer available, of the expected timelines by which they might

expect a refund. The other alternative is to have arranged for students who may

appropriately approve transactions, to come in later, after school is out, or early in

August. Be sure any transactions approved are brought before the student body in

the normal fashion at the next ASB meeting where such matters of disbursements

are handled.

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PAYEE NAME:

AMOUNT:

$

(PLEASE PRINT or TYPE)

STUDENT

STUDENT NAME:

NUMBER:

(PLEASE PRINT or TYPE)

ACCOUNT CODE

(BUDGET)

ADDRESS

PHONE:

CITY

STATE

ZIP

REASON FOR REFUND

ORIGINAL RECEIPT #

□

Cash or

□

Check

POS-REFUND RECEIPT #

AUTHORIZED BY:

ASB Treasurer

Date:

Date:

Date:

FOR ACCOUNTING USE ONLY

Verification in POS

Date

Initials

Deposit Verification

Date

Initials

Revised Oct. 2007

ASB REVENUE REFUND AUTHORIZATION FORM

Rev. 11/07

Section 9.2

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