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How Do We Manage Student Refunds?

Finance News

A screenshot of the Online Monthly Activitiy Recon, or OMAR, tool in the MyPack Portal.

Sep 23, 2024

OMAR as a Reconciliation Tool

Written by Stefanie Keto, Assistant Director Post Award (CNR). Recent discussions about the importance of account reconciliation within the realm of contracts and grants highlight the Online Monthly Activity Reconciliation (OMAR) tool. As an avid user of OMAR for over a decade, I can attest that this tool offers transparency and efficiency to the reconciliation process.…
laptop with Everture login screen

Sep 23, 2024

Year-End Endowment Value

Written by Erin Delehanty. Does your department have an endowment held in one of the university’s foundations or the Endowment Fund? Do you know where to go to determine how much it’s worth, or want to read the gift agreement? Foundations Accounting and Investments (FAI) has a software tool you can access to determine the…
Three stacks of copper coins with a graduation cap on the third stack of coins and the words "529 Plan" written below.

Sep 23, 2024

Streamlining 529 Plan Payments

Written by Zeryn Macklin. The 529 college savings plans are a popular method for families to save for education expenses, and the University Cashier’s Office is here to ensure that these funds are processed efficiently. Here’s an overview of how we handle 529 plan payments and integrate them into the student’s account.  Managing 529 Withdrawals…
A screenshot of the MyPack Portal with an arrow pointing to the W-2/W-2c Consent link.

Sep 23, 2024

Electronic W-2 Consent

Written by Regina House. As an active NC State employee, you have the opportunity to receive your W-2 electronically without having to keep up with a paper copy. In January 2024, University Payroll processed 27,453 W-2s. Of the total, 11,796 or 43% were electronic W-2s.  Why opt in for the electronic W-2?  You will get…
A screenshot of the Procurement and Business Services Vendor Onboarding website

Sep 23, 2024

Vendor Onboarding as a Value Driver

Written by Sharon Loosman. Vendor onboarding has been transformed into a strategic value driver for procurement operations at NC State. Through this strategy, we have ensured accurate and timely vendor records to mitigate risks associated with outdated or incorrect data.   Back in 2021, the Procurement and Accounts Payable teams in the Finance Division evaluated the…
A metal wolf statue on campus with the words "Business Connections" and an NC State brick logo in the foreground

Sep 23, 2024

Business Connections Corner

The University Controller’s Office held its monthly Business Connection meeting on September 12.  Discussion Topics University Controller’s Office Updates Procurement & Business Services Procurement & Business Services highlighted staff changes, annual procurement meetings, the updated Procurement Dashboard, the 13th Annual MarketPlace Expo, upcoming surplus sales events, contacting the Materials Support Warehouse to pick up surplus…
A person's hand using a calculator that is resting on a desk covered in various bills in various currencies

Aug 22, 2024

Foreign Currency Payments

Written by Justo Torres, Director, Contracts and Grants. When a sponsor declines to award funds in U.S. dollars (USD), a budget proposed in a foreign currency may not have the same value when awarded funds are paid in that currency and converted to USD.  How currency conversion rates are used during the project life cycle:
A screenshot of the location of the Employee Tuition Waiver Form in the MyPack Portal

Aug 22, 2024

Updated Tuition Waiver Process

Written by Zeryn Macklin. Starting in the Summer of 2023, the University Cashier’s Office made a significant update to the tuition waiver process by transitioning from a paper-based application to a fully online and electronic system. This change has simplified the process for faculty and staff, making it more efficient and accessible.  The results of…
Chanelle Corpening, Assistant Director of MarketPlace and Commodities, and Hays Poole, Assistant Director of Contracts and Services

Aug 22, 2024

Procurement Staff Updates

Written by Joel Bristol. Procurement and Business Services has undergone some reorganization after saying goodbye to Blain Woods, who retired from the role of Assistant Director of Procurement Services this year. We are pleased to announce that Chanelle Corpening, who previously served as the Strategic Sourcing Analyst, has been promoted to the role of Assistant…
Finance Division Service Portal

Aug 22, 2024

How Do We Manage Student Refunds?

Written by Zeryn Macklin. This month’s Finance Division Knowledge Base spotlight is on When are refunds processed? In this month’s Knowledge Base article, we’re diving into the details of how the University Cashier’s Office handles student refunds. Understanding this process is essential to ensure students receive timely refunds and that inquiries are addressed efficiently.  Refund Process…