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Finance News

Surplus Sales proceeds process

Mar 31, 2026

Are Proceeds from a Surplus Sale Returned to Departments?

When a department submits university property for surplus, we often get asked: Are proceeds from a surplus sale returned to the department? and “Who gets the money from the proceeds of the sale?” The answer to these questions is “It depends.” Two factors determine where funds go after assets are sold: Type of Assets Non-Capitalized…
IT Community Award

Mar 31, 2026

Celebrating IT Community Award Nominations

The Finance Division and its campus partners are celebrating a remarkable year of innovation and collaboration, as evidenced by the outstanding teams nominated for the 2026 IT Community Awards. These nominations highlight the critical behind-the-scenes work that powers NC State’s digital transformation and operational efficiency. Two major initiatives led by cross-functional teams from across the…
The 5 Ws of the business purpose: what, who, why, where, when

Mar 31, 2026

Why the Business Purpose Matters

In university finance, every financial transaction requires a clear business purpose to ensure accountability and transparency. This statement justifies why a specific expenditure is necessary, reasonable and an appropriate use of university funds. Without a detailed business purpose, transactions may face increased scrutiny from auditors or experience delays in processing or approvals. For example, when…
Bank of American Global Card Access app

Mar 31, 2026

The Benefits of Creating a Global Access Card Account

Global Card Access (GCA) is a Bank of America banking application for university PCards. While the University PCard Center is your primary resource for managing your PCard, the Card Services team recommends that every cardholder register their PCard for a GCA account. Global Card Access provides self- service tools that the Card Services team cannot…
New Fundriver Database Platform

Mar 31, 2026

New Fundriver Database Platform

Foundations Accounting and Investments (FAI) has completed the transition to the new Fundriver (Balance by EverTrue) database platform. Fundriver is a reporting tool maintained by FAI and used by NC State personnel to obtain information about endowments, including endowment market values, gift agreements and other fund information. Endowment market values are made available quarterly in…
Metal wolf statue

Mar 31, 2026

Campus Collaboration for Financial Reporting

At NC State, financial reporting isn’t just a back-office function in the University Controller’s Office (UConO)—it’s a massive, collaborative effort that involves every corner of the campus. In a recent Business Connections update, Financial Reporting Manager Karen Visnosky highlighted how accurate data and campus-wide partnerships drive the university’s financial success. Where the Data Begins: The…
The NC State Nuclear reactor in Burlington Labs. Photo by Marc Hall.

Mar 31, 2026

Managing University-National Lab Collaborations

The partnership between university researchers and the Department of Energy (DOE) or Department of Defense (DoD) National Laboratories is “high-stakes, high-reward.” While these collaborations offer our principal investigators (PIs) access to world-class facilities like the Advanced Photon Source or the Summit supercomputer, they also introduce a unique layer of administrative complexity that differs significantly from…
Digital background depicting innovative technologies in security systems, data protection Internet technologies 3d rendering

Mar 30, 2026

Security Enhancements to Direct Deposit Refunds

To better protect students’ financial information, the University Cashier’s Office (UCO) implemented new security measures for direct deposit updates. These became effective in February of this year. These changes are designed to help prevent unauthorized access and ensure refunds are deposited into the correct bank account. When updating or revoking direct deposit information in MyPack…
A metal wolf statue on campus with the words "Business Connections" and an NC State brick logo in the foreground

Mar 30, 2026

April 2026: Business Connections Updates

The University Controller’s Office hosts Business Connections Meetings each fiscal year from September to April (no December meeting due to the holidays). During these meetings, we share key financial updates and feature guest presentations on topics requested by the audience. Event dates and materials are posted on the University Controller’s Office website >  Business Connections…
Finance Division Service Portal

Feb 27, 2026

Navigating NC State Service Portals Just Got Easier

The NC State ServiceNow Platform Team has introduced a new “NC State Portals” menu item to existing service portals, including the Finance Division Knowledge Base. This update provides a simple, consistent way to navigate between various campus hubs, such as the Poole College of Management, CALS, Campus IT, DELTA and the Finance Division. Streamlining the…