Written by Emily Lowman.
FAI has a few friendly reminders as fiscal year end approaches:
Audit Request Letters
Audit request letters were sent via email by Jessica Hoff, Foundations Assistant Controller, to appropriate parties on June 1st. These letters contain a listing of various documents and information that are required to be submitted in order to assist with preparation of the annual audits and tax returns. Please pay close attention to the deadline provided as timely submission of requested information is critical for efficient and accurate completion of the audit report and IRS Form 990.
Transfer JV Deadline
Transfer JVs must be fully submitted and in the queue for FAI’s approval by 4:00pm on Friday, June 30 in order to be approved by fiscal year end.
Year-End Payment Request Schedule
Because June 30 falls on a Friday, there will be no change to the Foundations manual payment request schedule. FAI must receive a completed Payment Request Form by Tuesday, June 27 at 4 p.m. in order to be processed, signed and ready for release by fiscal year end. Electronic submissions should be emailed to faipaymentrequest@ncsu.edu.
Foundation Clearing Projects
There will be a final push in June to resolve items sitting in clearing before the fiscal year end. This will require assistance from various units across campus. Please respond to any inquiries in a timely fashion.
Financial Projects with Deficits
Please review Foundation projects to identify and correct any funds with deficit balances prior to fiscal year end.