Finance News

Mar 24, 2025

April ’25 Events

Take a look at the following events and important due dates for the month of April:

Feb 25, 2025

Understanding Residency Classification

Written by Zeryn Macklin. As we prepare for the upcoming summer and fall semesters, it is important to understand how residency classification affects tuition billing so that we can support students, if needed. Residency status determines whether a student is charged in-state or out-of-state tuition, and timely updates are essential to avoid billing discrepancies. How…

Feb 25, 2025

What Are “F&A” Costs?

Written by Justo Torres. Facilities and Administrative (F&A) costs, also known as indirect costs, refer to expenses that support research, projects or general operations but cannot be directly attributed to a specific project or activity. These costs are critical for organizations, particularly universities and research institutions, as they provide essential infrastructure and administrative support necessary…

Feb 25, 2025

Travel Updates

Written by Ruthie Fairbanks. We are excited to share that we have made updates to the Travel Manual and Travel Center. These enhancements are now live and are aimed at improving efficiency, streamlining workflows and enhancing the overall user experience. Travel Advances Travel advances will now be requested as part of the travel authorization process…

Feb 25, 2025

FAI Celebrates Transformation

Written by Brooke Labashousky. As we prepare to bid farewell to Chancellor Randy Woodson, we would like to join the university in Celebrating Transformation and reflect on the positive changes that have taken place in Foundations Accounting and Investments (FAI) and the impacts FAI’s administration has had on the university during Chancellor Woodson’s tenure. Endowment…

Feb 25, 2025

Equipment Trade-In Process

Written by Bill Carlson. Utilizing the university’s equipment trade-in process is the best way to ensure a department receives the highest value for used equipment. Let’s demystify the process.  Equipment Trade-In Process When a department is ready to replace a piece of equipment that has reached the end of its useful life, it may consult…

Feb 25, 2025

Announcing the Tuition Waiver Guide

Written by Kokeita Miller. Did you know that, as an employee of the UNC System, you are eligible for up to three tuition waivers per academic year? The Tuition Waiver Program provides an opportunity for eligible staff and faculty to have tuition waived for courses taken at University of North Carolina (UNC) System Institutions. Because there…

Feb 25, 2025

Business Connections Corner

Presentation Materials Materials from the February Business Connections meeting have been posted on the Controller’s Office website > Business Connections. Controller’s Office Updates Frances Lawrence welcomed Business Connections attendees and announced the Year-End Close Schedule for 2025 will be available at the March meeting. A new training section will now be included at the end…

Feb 25, 2025

What’s Popular in the Knowledge Base?

If you ever had questions about university business processes, state compliance regulations or finance guidelines or topics (think PCard, MarketPlace, financial reporting, etc.) and didn’t know who or where to go for an answer, you know how frustrating it can be. To assist our campus partners in locating this information, we have developed the Finance…

Feb 24, 2025

Announcements, Reminders and Tips

Updated Tuition Waiver Process With summer and fall registration approaching, now is the perfect time to use the faculty and staff tuition waiver! Eligible employees can waive tuition for up to three courses per year at UNC System schools—an easy way to invest in your education and professional growth. Learn more in the Tuition Waiver…