Finance News

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…

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 Through this strategy, we have ensured accurate and timely vendor records to mitigate risks associated with outdated or incorrect data.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…

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…

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:

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…

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…

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 inquiries are addressed efficiently.  Refund Process Overview:…

Aug 22, 2024

Foundation Project Reports

Written by Erin Delehanty. Did you know that there is an entire list of reports in the WolfPack Reporting System (WRS) that were created just for foundation projects? Foundations Accounting and Investments developed several useful reports for campus customers to make it easier to download information for multiple foundation or endowment fund projects.  Do you…

Aug 22, 2024

New Internal Controls for Financial Data Training

Written by Arianna Williams. We are excited to announce the launch of the new Internal Controls for Financial Data online course, now available for registration. Effective internal controls are crucial for management to make accurate financial reporting decisions and prevent errors, fraud and theft that could lead to significant losses. This course is specifically tailored…

Aug 22, 2024

Recognizing Our New Hire and Student Workers

Written by Zeryn Macklin. As the Fall semester begins, we are excited to introduce some key members of the University Cashier’s Office team. Caleb Perkins, our new full-time student accounts specialist, joined us recently and is getting settled into his role. Meanwhile, Kirsten Jackson and Diarra Diagne, our dedicated student workers, have been with us…