Financial Reporting and Management Services
This department reports to University Controller and Enterprise Financial Accounting.
Financial Reporting and Management Services provides current, comprehensive and accurate financial information to provide accountability and transparency to University, the people of North Carolina and beyond concerning its fiduciary resources. In addition to supplying the financial statements of the University, the department:
- Manages the 13th month process of converting cash basis reporting during the fiscal year to accrual basis for financial reporting of the fiscal year-end.
- Researches, interprets, and implements new Governmental Accounting Standards Board (GASB) standards.
- Serves as a focal point for tax assistance, which includes researching tax issues, reviewing current practices, and developing operating and reporting procedures and policies.
- Contributes to The Integrated Postsecondary Education Data System (IPEDS)
- Generates unrelated business income tax returns.
- Participates in the Delaware Study, a discipline-level, comparative analysis of faculty teaching loads, direct instructional costs, and separately budgeted scholarly activity.
Policies and Procedures
The University of North Carolina at Chapel Hill has released its 2022 Annual Comprehensive Financial Report (ACFR) for the fiscal year that ended June 30, 2022.
Effective immediately, due to the implementation of a new accounting standard GASB 96 - Subscription Based IT Arrangements (SBITAs), two new accounts were set up in PeopleSoft. To ensure proper usage of these accounts, use the default entry unless the subscription is infrastructure, then manually change the account number.