UNIVERSITY OF VIRGINIA
           FINANCIAL AND ADMINISTRATIVE POLICIES MANUAL



TITLE:  REVENUE REFUND VOUCHERS                     POLICY:  VI.D.1x

        
Overview

This policy is a guideline to all University departments for making
revenue refunds to individuals, corporations, or to non-State
institutions.  The policy applies to all refunds regardless of the
source of funds.

Internal Control

Any department that collects a special deposit or fee, or is
involved in sales of any kind, should establish internal control
policies clearly outlining the procedures that must be followed
before a refund is made to an individual. The Department of
Accounting Operations may be contacted to assist in developing
adequate control procedures.


Method of Payment

Once a determination has been made to issue a refund, a COMBO form
should be prepared and submitted within 30 days from the date of
request.  The refund must be made from the same account
that initially was credited with the deposit using the identical
object code.  The Combo should state "revenue refund" at the top of
the form transaction.  Checks from revenue refund vouchers must be
mailed to appropriate home or non-UVA business addresses.

See also University Policy VI.A.1 "General
Requirements."

See also Procedure 6-4, "Preparing COMBO
Forms."

Documentation

All documents supporting the refund should be attached to the
voucher.  The original Receipt Refund Number or individuals
Registration/Account Number should be included on the form for
audit purposes.


ISSUED BY:                                                 08/15/96
Assistant Comptroller,
Accounting Operations          6.4.1