UNC Finance Central: Your Hub for Financial Information

UNC Finance Central serves as the central repository and coordinating body for all financial matters at the University of North Carolina at Chapel Hill. It's a vital resource for faculty, staff, students, and external stakeholders seeking information on university finances, policies, and procedures.

Core Responsibilities and Departments

Finance Central encompasses a broad range of responsibilities, broadly falling under financial reporting, budgeting, treasury management, procurement, and compliance. These responsibilities are distributed across various departments within the organization.

Accounting Services: This area is responsible for maintaining the university's general ledger, processing financial transactions, and ensuring the accuracy and integrity of financial records. This includes accounts payable, accounts receivable, and reconciliation processes.

Budget and Planning: The Budget and Planning team manages the university's budget development and execution process. They work closely with academic and administrative units to allocate resources strategically and ensure financial sustainability. This involves long-range financial planning, budget analysis, and performance reporting.

Treasury: Treasury manages the university's cash flow, investments, and debt. This ensures adequate liquidity to meet operational needs and maximizes returns on investments while adhering to strict risk management guidelines.

Procurement Services: This department oversees the purchasing of goods and services for the university. Their goal is to ensure compliance with purchasing policies, secure competitive pricing, and promote efficient and ethical procurement practices. They often manage vendor relationships and negotiate contracts.

Compliance and Internal Controls: This area focuses on ensuring adherence to all applicable laws, regulations, and university policies. This includes developing and implementing internal controls to safeguard university assets, prevent fraud, and promote ethical conduct.

Key Functions and Services

UNC Finance Central offers a variety of essential functions and services to the university community:

• Financial Reporting: Preparing and disseminating accurate and timely financial reports to internal and external stakeholders.
• Policy Development and Implementation: Developing and implementing financial policies and procedures to ensure compliance and efficiency.
• Training and Support: Providing training and support to faculty and staff on financial matters, including accounting practices, budget management, and procurement procedures.
• Systems Management: Managing and maintaining the university's financial systems, such as ConnectCarolina (the ERP system), to ensure data integrity and efficient processing of transactions.
• Audit Coordination: Coordinating internal and external audits to ensure compliance and identify areas for improvement.

Accessing Information and Support

The UNC Finance Central website serves as a central portal for accessing financial information, policies, forms, and contact information. Various departments also provide dedicated support channels for specific inquiries. Utilizing the online resources and contacting the appropriate department can facilitate quick answers to questions related to university financial matters.

Importance to the University

A well-functioning Finance Central is crucial for the financial health and stability of UNC Chapel Hill. By ensuring responsible stewardship of resources, promoting compliance, and providing timely and accurate financial information, Finance Central supports the university's mission of teaching, research, and public service.