Fees distribution is the process of calculating tuition fee revenue deductions and distribution of the net fee revenue to recurrent ledger from the F ledger.
This is done before close of period six and period 10 with the final distribution done in period 13. These dates tie with the main teaching terms semester one and semester two. The dates are also important as recurrent budget reviews are conducted at the close of period six, 10 and 13. A report on the budget reviews is presented to the University Executive, Finance Committee and Council by Finance & Business Services so it is important to distribute net fees income on time so the financial performance of budget units can be properly assessed.
There two types of tuition fee revenue namely international student fees (ISF) and domestic tuition fees (DTF).
The net fees revenue is distributed to the area which owns the course with the exception of HDR fee income which is distributed to the area which owns the program.
Total charge - overheads = Net fee
For DTF, 20 per cent of the net fee is distributed to the College which owns the program, and 80 per cent to the area which owns the course.
Total charge - capital - overheads = Net fee
Fees distribution - Prior years adjustment
This is done in the same period when current year fees distributions are processed. That is before close of period six and period 10 and the final adjustments in period 13. It is done for income pertaining to previous years' academic terms processed in the current year.
Since the student trial balance is specific to the academic year, previous year income items will not appear on the current trial balance. Therefore, an Student Finance Office transaction posting report should be run for this purpose.