Bursar Job Description, Skills, and Salary
Get to know about the duties, responsibilities, qualifications, and skills requirements of a bursar. Feel free to use our bursar job description template to produce your own. We also provide you with information about the salary you can earn as a bursar.
Who is a Bursar?
Bursar is a title that means “treasurer for a college” and dates back to the 1500s. This word comes from the Latin bursarius (or “purse-bearer”), which refers to the fact that bursars manage student accounts and hold the purse. A college usually has a chief finance officer, who oversees all financial affairs, including the receipt of grant money for college projects and payroll administration.
The bursar is a college official responsible for student billing and payment. He is in charge of student accounts and issues statements to students. This will keep them informed about outstanding bills and payment history. Several employees are usually under the supervision of the bursar. Because student accounts can be quite complicated, it is often impossible to manage all the accounts of all students at an educational institution. This is where the bursar plays an important role.
The office of a bursar monitors the accounts of all students currently enrolled at an educational institution or on leave. The bursar works closely with the financial aid department to determine how much students owe on tuition, housing, and dining contracts. The student bursar’s office accepts student loans, applies those payments to student accounts, and provides students with refund checks. This office also accepts scholarship money.
A student account can be complicated. Every account has a different amount due depending on how the student is doing in school and what services he/she uses. To calculate the amount due, the bursar subtracts the amount received for the student, including any student loans disbursements or scholarships. This creates a statement that either shows a student owing a refund or a balance.
Students with large balances may be able to work with the bursar to create a payment plan. This is an alternative to requesting the full amount. Bursars can also assist students with tax matters, such as issuing tax forms that may be required under law or helping them access tax credits and other benefits. The bursar usually has accounting experience and is familiar with computer systems that keep track of student accounts. They also know about tax benefits and how student loans work.
Bursar Job Description
Below are the bursar job description examples you can use to develop your resume or write a bursar job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
- Acting as secretary to governors and clerk to various trusts and committees.
- Assisting in compliance with all aspects of employment law, including equal pay, minimum wages, and Working Time Directive
- Assisting the management in matters relating to employment, including disciplinary procedures.
- Ensuring that the school has the appropriate grievance and disciplinary procedures.
- Assisting in the creation of contracts of employment for all staff members and maintaining school standard contracts as updated with new legislation.
- Managing the employment, terms, and conditions of service, supervision, and welfare of all other staff.
- Monitoring and implementing school policies to ensure compliance with safety and health legislation. This may include serving as the school’s health and safety assistant and chairing the health-safety committee.
- Assisting in risk assessment where necessary and supervising all departments to ensure they are doing so.
- Assuring adequate school insurance coverage at all times. This includes employer’s liability, buildings, equipment, personal accident insurance, and any other relevant cover.
- Arranging accommodation for staff and leasing properties to school employees or third parties
- Ensuring that tenants sign the proper leases and licenses.
- Letting school premises to outside organizations
- Assisting the Department for Education (DfE), as a correspondent, and being responsible for all records and returns.
- Advising on and taking the necessary security measures in the school to protect both students and staff.
- Maintaining contact with the statutory authorities as well as other organizations.
- Supervising the management of the uniform shop and school shop.
- Supervising the management of laundry facilities.
- Assuring day-to-day cash management
- Managing receivables and accounts payable
- Keeping the file of receipts and the book of tuition fees organized
- Managing budgets
- Performing cost- and productivity analysis
- Examining employment contracts and terms-of-service
- Designing and updating financial procedures
- Contacting local authorities and school administrators
- Informing the school general about performance and investment/funding possibilities
- Overseeing the operations of student financial services, including billing and receivables and cashiering.
- Assisting in the direction and management of financial management and fiscal policies review and modifications
- Ensuring compliance to university, state, and federal regulations as well as standard accounting procedures.
- Providing periodic reports on receipts and technical information for the university community as well as external funding agencies.
- Participating in the development and recommendation of university policies and procedures.
- Encouraging interaction between students, parents, administrators, and staff that is customer-oriented.
- Interacting with both internal and external auditors, participating in auditing projects, or providing information and access as needed to accounting records.
- Directing the administration and record-keeping of the Direct Lending Program.
The following are other important tasks:
- Management of Students’ Accounts
A bursar’s primary role is to manage student bills. This is an important job for colleges that rely so heavily on student tuition. The school where the bursar works and the nature of their duties will determine what other tasks they might perform in the school’s finances. The bursar will manage student billing, but you can rest assured that they will do more. The bursary is where you go to pay your bills. They can help you set up an installment plan if you or your family require it. The bursar is the financial administrator responsible for making sure tuition bills are paid on time.
- Understanding what you owe
The bursar can also tell you what fees you owe, in addition to regular tuition. It can be easy to forget the many expenses that college students face. Housing and food are the obvious costs. However, there may be additional fees for classes that include labs. Your school may also offer insurance coverage. Students can get help from the bursar to understand what they owe. If you are late on your payments, many colleges will not allow you to continue your education.
- Handle students’ billing
Depending on which school you attend, the bursar’s department might also handle student billing. This could include student loans, grants, or scholarships. This could also include helping to make budget decisions and guiding the school in fundraising. Most bursars have some business or administrative experience. Many offices employ a bursar, an assistant bursar, and other staff who deal with specific areas like student loans and financial control (person who manages financial reports and accounting).
- Assisting students
It can be both exciting and daunting to start college. It can be difficult to navigate the bureaus and figure out your student responsibilities both inside and outside of class. Paying for college might seem like the most daunting task. If you have any questions regarding student financial matters or your tuition payment installments, the bursar’s office can help.
- Keep your cash in your office.
While keeping petty cash on hand is an essential part of your job, it is safer to keep only a small amount. You are more likely to be robbed or disorganized if you have a lot of petty cash. You should deposit any petty cash you receive within one shift. Assign another bursar to the office so that the deposit can be made on busy days.
- Test for counterfeits
The most common bills that people have are also the most easily counterfeited. You and your staff should learn how to properly test counterfeit money and then verify any paper money you receive. As technology improves, it becomes harder to identify counterfeit money. Some offices have counterfeit testing equipment that does the job.
- Automate cash transactions
Many devices and machines can help you keep your petty cash safe while on-site. These devices and machines also improve the speed and accuracy of recording and counting money. These technologies can be used to create a more productive work environment and ease of mind.
- Regular training is important
Training and improvement are required to introduce new technologies or routines. Accuracy is essential when handling money transactions. To ensure efficiency in the work of those who handle these transactions, all staff should be regularly trained.
- Practice dual custody
Dual custody is when two people are responsible for each other’s checks. This helps to reduce the risk of losing money and improves overall money management. One person might make mistakes. However, having multiple people within the same department to review significantly reduces the probability of money loss.
- Oversee Receivable Functions
Bursars are responsible to oversee and direct all general receivable functions. This includes monitoring student billings, reporting on student accounts, and managing meal and housing plans.
- Student Financial Counseling
Students with financial questions or financial problems can make an appointment with the Bursar. The bursar will discuss financial issues with students, including tuition costs and other university expenses. Students who are unable to pay tuition with traditional means can be counseled by bursars and offered financial aid options.
- Create and distribute informational publications
Students and parents are informed about the latest financial aid options by bursars. These publications are educational materials that help students with financial aid and tuition.
- Collect and implement collection processes
Students sometimes can’t afford tuition or other expenses on time. Bursars are responsible to create and implement appropriate collection processes. These plans may include installment plans and hardship waivers.
- Staff Management
Bursars are rarely able to work alone. Some even manage a staff of employees. They often have student employees as part of their team. Assisting in the supervision of a team involves managing conflict and teaching students how to use their professional skills after graduation.
Qualifications
- Demonstrable work experience as a Bursar
- Computer literacy (MS Excel in particular)
- Financial management skills are essential
- Understanding of best practices and accounting procedures
- Familiarity in budget preparation and cash flow management
- Ability to prioritize work with good time management skills
- Extensive experience in creating reports and presentations and excellent analytical skills
- BS degree in Accounting, Business Management, or another relevant field
- Certification in School Administration a plus
Essential Skills
- Understanding of financial regulations in the federal and state governments, as well as university policies and procedures.
- Skill in fiscal management and budget preparation.
- Understanding of cashiering principles and cash management systems, procedures, standards.
- Understanding of principles and practices in accounting and receivables.
- Ability to exercise independent judgment and to manage information and communicate it to a variety of clients and/or media sources.
- Capability to create reports that contain technical information.
- Understanding of customer service standards.
- Skill in the analysis and reengineering of operations and procedures, formulating policies and developing and implementing strategies and procedures.
- Capability to plan, evaluate, and evaluate programs.
- Capability to find and secure alternative funding sources.
- Software knowledge to illustrate and quantify complex financial reports, comparisons, and impacts.
- Excellent interpersonal and community relations skills, and the ability to communicate effectively with others.
How to Become a Bursar
A bachelor’s or associate’s degree in finance, or another related subject, is required to become a bursar. You will need several years’ experience as a bursar, which is a managerial position. This can be gained by working in a bank or other financial institution where you can gain more management and supervisory skills. You will need to have strong attention and financial leadership skills, as well as excellent written and oral communication.
Where to Work
Educational institutions employ bursars, who are responsible for the management of financial services.
Bursar Salary Scale
Bursars earn an average annual salary of $53,000 per annum. The salary varies depending on the experience of the bursar, the firm’s location, and whether it is public or private. The highest-earning bursars earn around $80,000 annually, while the lowest-earning bursars earn around $40,000 each year. Bursars are typically eligible for full benefits packages, which include paid time off and health insurance. Bursars often get a discount on tuition at universities for their children and themselves.