17.  REFUND FROM FEE AGENCY ACCOUNTS

a.  State universities may make direct refunds of tuition fees, charges or other institutional receipts from the appropriate fee agency account.

b.  All refunds are to be deducted from receipts before submitting monthly receipt vouchers to the State Treasurer.

c.  Each state university shall maintain appropriate documentation for all refunds and retain the same for audit.

d.  Each state university shall file with the Division of Accounts and Reports the specific procedures to be used by the institution in implementing the above policy.