Ncsu Finance Office - Financial Data

The North Carolina State University (NCSU) Finance Division serves as the central steward of the university’s financial resources, ensuring responsible and compliant management of funds to support the institution’s mission of teaching, research, and service. The office is responsible for a broad range of financial operations, impacting every facet of university life.

Key functions of the Finance Division include accounting and financial reporting. They maintain accurate records of all financial transactions, adhering to Generally Accepted Accounting Principles (GAAP) and state and federal regulations. This work culminates in the production of comprehensive financial statements that provide transparency and accountability to stakeholders, including the University of North Carolina System, the state legislature, and the public.

Another vital area is treasury management. This encompasses the efficient management of cash flow, investments, and debt. The treasury team strives to maximize investment returns while minimizing risk, ensuring the university has the resources needed to meet its financial obligations and strategic goals. They also handle banking relationships and oversee the issuance and management of university debt.

The finance office plays a crucial role in budgeting and financial planning. They work collaboratively with colleges and departments across the university to develop and monitor budgets that align with strategic priorities. This involves providing financial analysis, guidance, and support to ensure responsible resource allocation. The budgeting process is iterative, incorporating input from various stakeholders to reflect the university’s evolving needs and priorities.

Procurement services fall under the Finance Division’s purview. This includes overseeing the purchasing of goods and services in a fair, transparent, and compliant manner. Procurement aims to achieve the best value for the university while adhering to state and federal procurement regulations. They manage contracts, negotiate pricing, and provide training to university employees on procurement policies and procedures.

Furthermore, the Finance Division is responsible for payroll services, ensuring that all university employees are paid accurately and on time. This involves managing payroll taxes, deductions, and benefits, while complying with relevant labor laws. The payroll team also provides support to employees regarding payroll-related inquiries and issues.

Beyond these core functions, the Finance Division provides guidance and support to university departments on a wide range of financial matters. This includes training on financial policies and procedures, assistance with grant accounting, and support for research administration. They strive to be a resource for the entire university community, fostering a culture of financial responsibility and accountability.

In essence, the NCSU Finance Division is critical to the financial health and stability of the university. Through its various functions, it ensures that resources are managed effectively and responsibly, enabling NCSU to fulfill its mission of educating future leaders, conducting groundbreaking research, and serving the citizens of North Carolina and beyond.