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Action Needed – Outstanding Credit Due to Departments from Vendors

 

By

To:  Campus Unit Finance Leads, University Business Managers
From:  Janet Rupert, Director of Accounts Payable and Vendor Services

Per legislation, the North Carolina Office of State Controller has contracted with a third-party agency, PRGX, to perform an annual audit of UNC-Chapel Hill’s transactions with vendors, scanning for overpayments due to circumstances such as unclaimed refunds, pricing errors, or miscalculated freight charges, etc.

If, upon PRGX’s review, no activity has occurred within the last 180 days from the payment date or credit memo date showing that UNC-Chapel Hill attempted to reclaim those open credits, PRGX is entitled by state law to obtain those credits on behalf of the State and take the funds back.

In order to close the loop of any unanticipated loss of State funds to the University (as well as to the departments or units), we are requesting the following actions:

  1. As soon as a department/unit is informed of a credit due from a vendor, create a credit voucher in ConnectCarolina of the amount due or expected to be refunded.
  2. In the memo field of the created voucher, include the original transaction information to which the credit applies.
  3. Make sure to document relevant correspondence that demonstrates an attempt to close this credit (in the form of an email, fax, or letter). Upload that with the created credit voucher or keep it on file.
  4. After the Fiscal Year End Close, the department or unit business manager should notify Judy LeDoux (jkledoux@email.unc.edu) in Accounts Payable by August 1 of any outstanding credits that are trying to be claimed and forward her the details of each credit, attaching the accompanying correspondence. If there has been correspondence showing proof that a diligent effort has been made to close the credit, the PRGX claim may be denied and UNC-Chapel Hill will be able to reclaim the funds.

We appreciate your help in this matter.

For information on how to create a credit voucher in the ConnectCarolina system, see page 52 in the Campus Voucher Guide.

If you have any questions or concerns, please contact Judy LeDoux (jkledoux@email.unc.edu) in Accounts Payable.

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