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To: University Business Managers

From: Brian Smith, Interim Assistant Vice Chancellor for Financial and Accounting Operations

Date: January 6, 2015

The University of North Carolina at Chapel Hill has released its Comprehensive Annual Financial Report for the fiscal year that ended June 30, 2014. It can be found online.

The Annual Report is one way the University is fulfilling its goal of transparency and accountability to the people of North Carolina and beyond. In addition to the financial statements of the University, the document contains disclosures regarding investments, debt, revenues and expenses.

For the past 19 years, the University has received an award for reporting excellence for the Annual Report. The Certificate of Achievement for Excellence in Financial Reporting is the highest form of recognition in the area of governmental accounting and financial reporting.

Note: This memo is also being sent to Deans, Directors and Department Chairs.

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