Finance News

Jul 18, 2023

Importance of Internal Controls

Written by Fran Lawrence. Are you aware of the importance of internal controls? Internal controls are essential to providing reliable financial reporting for management decisions. That means information creating the university’s financial statements have checks and balances in place to provide reasonable assurance that information is reliable, accurate and timely. Ensuring internal controls best practices…

Jul 18, 2023

RED Goes Live

Written by Ron Reed, Senior Director –  Financial and Research Administration Systems. The Financial System is preparing for the go-live of the Research Enterprise Data (RED)  system’s Sponsored Program modules. These modules will replace RADAR and are expected to go live on Monday, August 7. For more information on RED, please visit: https://research.ncsu.edu/era/. The Financial…

Jul 18, 2023

Shipping through FedEx Made Simple

Written by Chanelle Corpening. FedEx Shipping is a service that allows employees to ship goods or documents. There are several FedEx shipping services available through the Marketplace.  Prior to initiating a FedEx shipping, an employee needs to request MarketPlace Shipper access, which involves the department’s SAR Administrator granting the FedEx Shipper Role to the employee.…

Jul 18, 2023

Honoring Our Veterans

Written by Martha Neal. On June 5, 2023 the Town of Wake Forest raised a flag in honor and memory of Joseph Anthony De Lois, father of Lorraine De Lois, an employee in the University Cashier’s Office.  On the first Monday of the month, from April to October, the town joins efforts with several local…

Jul 18, 2023

Non-MarketPlace Requisition Updates

Written by Blain Woods. For the past year, Procurement & Business Services has been working diligently to release two important updates that affect Non-MarketPlace requisitions, both of which went into effect on August 1, 2023: Let’s take a closer look at these two initiatives.  Financial System Requisition Role Separation As of 8/1, there are two…

Jul 18, 2023

Contributing to the Zero Waste Wolfpack Mission

Written by Bill Carlson. One critical initiative listed in the NC State Sustainability Strategic Plan is to achieve a 70% landfill diversion rate from the 2006 baseline toward zero waste. The NC State Materials Support team has a few tips of their own for how a simple step can make a huge difference in the…

Jun 20, 2023

Meet Sharon Loosman

Written by Tabitha Groelle. In our fifth edition of our Chatting series, I spoke with Sharon Loosman, Director of Procurement & Business Services. Procurement & Business Services has been a part of the Finance Division since July 2010 and was previously known as Materials Management.  Sharon was promoted to Director in 2011. Let’s get to…

Jun 20, 2023

2023 Awards for Excellence: Finance Division Honorees

Written by Sharon Loosman. The NC State University Awards for Excellence program recognizes the accomplishments and achievements of NC State employees. It is the highest honor bestowed upon any non-faculty employees at NC State.  This year, the Finance Division nominated three highly qualified individuals.  The three employees were honored at the Office of Finance and…

Jun 19, 2023

Payments to Foreign Nationals are Taxable

Written by Dwaine Cook. Did you know that payments to foreign nationals are taxable? Both the United States Citizenship and Immigration Services (USCIS) and the Internal Revenue Service (IRS) impose complex regulations for payments to foreign nationals. USCIS and IRS refer to foreign nationals as nonresident aliens.  With a large and growing international population, we,…

Jun 19, 2023

Federally Funded Research: Why?

Written by Justo Torres, Director, Contracts and Grants We all take it for granted that the Federal Government funds research at every major university in the United States. At NC State in FY 2022, nearly 44% of our research expenditures were federally-funded. Why? Believe it or not, the research partnership between universities and the federal…