UNIVERSITY OF WISCONSIN River Falls

Fiscal Records

This section includes general fiscal records maintained to document handling and disbursing of funds related to loans, work study and grants that are part of the UW System. Some fiscal records related to financial aid are already covered in the General Records Schedule Fiscal and Accounting (February 2007) such as audit documentation (A-133), reconciliation work papers,expenditures-accounts payable, receipts-accounts receivable, collection case files, bank statements, and journal entries to the shared financial system (general ledger). The general ledger (control accounts) and related subsidiary ledgers must identify each Title IV program transaction separate from other school transactions. Other similar transactions are related to Wisconsin Higher Education Aids Board and campus based scholarships available to students.These records also appear in the general ledger. 

UWSFA003STUDENT ACCOUNTS RECORDS

Account records reflect the balance of funds owed by or to a student for University tuition or services. Student accounts include each student's institutional charges, cash payment, Title IV payment, cash disbursements and returned funds. These records are required for each enrollment period and must be maintained on a current basis. Email notices are generated about statement of expenses and funds. The university administrative and financial services staff and students view charges and make transactions related to bills for on campus housing rent, meal plan, health center and other services. The statement of account is also connected to a payment profile which contains a credit card or electronic transfer options, credit card name,credit card number and credit card expiration date. An institution shall retain a record of disbursements for each loan made using a Master Promissory Note (MPN). This record must show the data and amount of each disbursement.

Retention Time Period
Original: EVT + 4 Years EVENT=End of the Award Year in which the Student Last Attended
Disposition: Destroy Confidential
Copies: When no longer needed for administrative or quality control purposes destroy confidentially
Pll: Yes Confidential: Yes

UWSFA03A STUDENT ACCOUNTS - FOR STUDENT WITHOUT LOANS

This record series is for those Student Account Records in which the Student was not eligible or did not accept the loan.

Retention Time Period
Original: EVT + 4 Years. EVENT=End of the Fiscal Year
Disposition: Destroy Confidential
Copies: When no longer needed for administrative or quality control purposes destroy confidentially
Pll: Yes
Confidential: Yes