Illinois Administrative Code
Title 23 - EDUCATION AND CULTURAL RESOURCES
Part 1075 - TUITION AND FEE WAIVER GUIDELINES
Section 1075.300 - Waiver Accounting Classifications

All tuition and fees assessed against students should be recorded as revenue, even though there may be no intention of collecting the revenue from the student. A waiver is the amount of revenue that the university intentionally relinquishes for one of the purposes included in the Standard Tuition and Fee Waiver Chart of Accounts in accordance with Section 1075.500 and should be recorded as university expenditures. Tuition and fee waivers should be classified for accounting purposes by the university as budgeted, granted, or expended waivers. The classification of tuition and fee waivers is dependent on the point in the budgeting and accounting cycle that the transaction takes place.