Business Procedures Manual

Essential business procedural components for University System of Georgia institutions.

21.3 Accounting

(Last Modified on August 19, 2010)

Financial activity attributable to study abroad programs is recorded in two funds: General funds (E&G) and Agency funds.

  1. Student tuition and applicable mandatory fee revenue is assessed and recorded in General funds (E&G) as tuition revenue. Salaries and benefits of program faculty and staff should be paid from applicable departmental E&G funds.

    Note: Costs of instruction and other instructionally related costs such as faculty travel, lodging, and meals, and other instructional expenses such as tutors, lecturers, room rental, etc., may be paid from E&G funds.

  2. Program fee revenue and related expenses are recorded in an Agency fund account specific to the responsible program or office. Student-specific expenses must be paid from the Agency account. Typical student specific costs include travel, lodging, tours, meals, event fees, and student supplies. Students are also assessed an additional program fee to cover such things as the cost of travel and non-instructional costs of conducting the program.

    Note: If an Agency account has been inactive for eighteen (18) months, with no deposits or expenditures, any excess funds remaining in the account must be transferred to another study abroad program fund or to the general fund.

It is recommended that the revenues and expenditures of study abroad program accounts be audited at least once every three years. This audit may be performed by institution internal auditors, Board of Regents internal auditors, State of Georgia Department of Audits and Accounts auditors, or external auditors.

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