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Viewing: Unclaimed Funds

Last approved: Wed, 22 Nov 2023 00:46:18 GMT

Last edit: Wed, 22 Nov 2023 00:46:17 GMT

 

Administrative
Unclaimed Funds
118
November 10, 2020
November 10, 2020
November 10, 2020
November 10, 2025
President
Vice President Administration & International Development
Operations Council
Financial Services

Policy

Does this policy have procedures?
Yes

Procedures

References and Resources

 
Term Description
Unclaimed Funds Any payment in the form of a cheque or electronic funds issued by the College that remains uncashed or unpresented after six (6) months, including but not limited to wages, vendor payments, and student refunds.
Vendor A seller that contributes goods or services.
Write-off A cancellation from an account of a bad debt or worthless asset. For Unclaimed Funds, this is done after six (6) years.
VCC Policies Policy Number
Financial Responsibility and Accountability 115
Procurement 130
Tuition and Fees 310
Tuition and Fee Refund 311
Provide links to all supporting documents. These may include links to Appendices, Forms, Guidelines, Handbooks, Standards or other departmental or College resources that support the implementation of this policy and/or procedures.
Are there appendices for this policy?

 
Are there associated forms?

 
Are there supporting internal documents?

 

Rationale and Additional Information

Does this change require an implementation plan?
No

ADMINISTRATIVE INFORMATION

FOR ADMINISTRATIVE PURPOSES ONLY. DO NOT EDIT. These fields are not required for governance approval.

Category 1: College Operations

 
Financial Management

Category 2: Employees

 

Category 3: Students

 

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Key: 1