(1) Each agency shall document and track agency each receivable in FINET.
- (a) An agency may request an exemption from using FINET from the Division of Finance and OSDC.
(b) An agency exempted under this section shall:
- (i) track each receivable in the agency's system;
- (ii) provide OSDC with a receivable report each month that contains the information described in Subsection 63A-3-502(7)(g); and
- (iii) provide each receivable report within 45 days after the quarter ends.
(2) A customer shall be billed:
- (a) within 10 days from the event that created the receivable; or
- (b) if the event is recurring, within the next billing cycle.
- (3) The payment due date shall be within 30 days of the event date unless the agency can show that this timeframe does not meet its business needs.
- (4) If payment is not received within 10 days after the payment due date, the agency shall contact the customer for payment by phone or written notice.
- (5) Each agency shall review and comply with the statewide accounting policies for receivables, which are available on the Division of Finance website, finance.utah.gov.
KEY: accounts receivable, collection transfer
Date of Last Change: October 10, 2024
Notice of Continuation: March 10, 2022
Authorizing, and Implemented or Interpreted Law: 63A-3-502(3)(m); 63A-3-502(4)(g); 63A-3-502(6)(a); 63A-3-502(6)(b); 63A-3-502(7)(f); 15-1-4