Does your unit have funds assigned with a 2N fund type? If so, see below for some tips to keep in mind:
- Funds assigned with a 2N fund type are accounted for within the 201nnn fund code range and are typically used to account for either:
- Enrollment deposits paid by prospective students to temporarily reserve an enrollment spot until they decide whether or not to attend our university, or
- Key deposits for access to academic buildings or research labs.
- Enrollment deposits:
- If the potential student ends up attending our university, these deposits are then applied to the student’s SAR account and are removed from the 2N fund.
- However, if the individual decides not to attend our university, then the deposit would typically be forfeited and lapsed to the university’s tuition fund.
- Key deposits:
- If the individual returns the key, the deposit would be paid back to the individual from the 2N fund.
- However, if the individual does not return the key, then their deposit would be lapsed in order to cover the costs associated with replacing the lost key.
- In order to ensure these deposits are properly accounted for, it is important to reconcile and monitor these 2N funds on a regular basis. This helps ensure that any expired deposits are properly identified so that they do not linger within your 2N fund.
- Refer to Section 5.3.1, Process Student Deposits in Banner within the Business and Financial Policies and Procedures Manual for further details.
Contact
For further questions, please reach out to UAFR's applicable subject matter experts within the Student Deposits (Fund Type 2N) section of UAFR's Who to Ask list.
