Comprehensive Annual Financial Report (CAFR)
The CAFR, produced by the office of Financial Reporting and Management Services, includes the financial statements for the fiscal year ended, as well as other useful information that helps ensure the University's accountability to the public. Disclosures provide the information necessary for the reader to gain a broad understanding of the University's financial position and results of operations for the fiscal year ended. Integrated Postsecondary Education Data System (IPEDS)
IPEDS is the core postsecondary education data collection program for the National Center of Education Statistics (NCES). Financial Reporting and Management Services prepares the finance component of the program Federal 990-T Exempt Organization Business Income Tax / State CD-405 Corporation Tax Return
Even though the University is recognized as tax exempt, it is still liable for tax on its unrelated business income (UBI). UBI is income from a trade or business, regularly carried on, that is not substantially related to the educational purpose that is the basis of the University's exemption. Financial Reporting and Management Services prepares the Federal 990-T and the State CD-405 to report the University's UBI to the Internal Revenue Service and the N.C. Department of Revenue, respectively. 13th Month
The process of converting cash basis transactions recorded during the fiscal year to accrual basis for financial reporting. Financial Reporting and Management Services manages and performs 13th Month procedures. North Carolina Accounting System (NCAS)
NCAS is the chart of accounts maintained by the Office of the State Controller for the State of North Carolina. Every month, including 13th Month, Financial Reporting and Management Services converts, transmits, and reconciles the University's transactions on the Financial Records System (FRS) with NCAS.
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