ECE Finance Team
The ECE Finance Team provides financial and leadership oversight of non-5 projects.
- What is my project number?
- Finance will provide you with your Start-Up project number and balance.
- Want to deposit a check into a Foundation Project (6-Project)?
- The check should be payable to: NC State Engineering Foundation, Inc.
- Bring the check to EBII Room 3111; we will take care of the rest.
- Want to know the balance or have questions about a Non-5 Project?
- Email Finance with your question or concern.
Gifts include all unrestricted and restricted gifts received from individuals, non-governmental organizations or other organizations.
The characteristics of a gift are that it (1) is given voluntarily, (2) does not impose on the University any responsibility, either written or verbal to generate a tangible product or service, such as a report of research results, and (3) is not considered an exchange transaction or contract where something of like value is provided in return for the gift receipt.
Generally, gifts fall into two broad categories including (1) funds received to support the educational, research, and extension programs of the University and (2) funds received which may be used at the discretion of the account custodian, to support any legal activity in support of a specific department, college, or the University.
Gifts are subject to the donor’s requirements. Expenses incurred from gift funds must be supported by the account custodian with adequate documentation to ensure compliance with the donor’s restrictions and / or conditions. These funds should not be used to personally benefit the account custodian or for non-university business purposes.
The ECE Finance Manager and Lead Accounting Technician will work with Faculty and Staff when receiving gifts and to initiate the gift process. Faculty and Staff can email their inquiry to ECE-Finance for assistance.
To ensure timely reconciliation please provide the appropriate documentation for the transaction.
All transactions require an itemized receipt showing a zero balance.
Itemized Receipts: A legible and itemized receipt from the merchant is required for all purchases and must include the following information:
- Merchant name and address
- Date of purchase
- Itemized description of item(s) purchased
- Quantity of each item and unit price
- Shipping charges and ‘ship to’ address*
- Total of the purchase
Food Purchase Documentation:
If for human consumption, the documentation must include:
- A list of attendees
- The name and date of the event
- Any supporting documentation (e.g. an event flier, invitation, etc)
- In some cases, an AP107 may be required by your college/department
- Department head signature
Alcohol Purchase Documentation: Purchases of alcoholic beverages should be strictly limited and must have the signature of the appropriate Director, Dean or Vice Chancellor in addition to the documentation requirements above.
In some cases, an AP107 and/or Request to Purchase/Serve Alcohol form may be required by your college/department.
Gift Card Documentation:. Gift cards purchased for employees are taxable income to the employee. When gift cards are purchased with a PCard, it is necessary to attach certain information to the purchase card receipts. This information will be reported to Payroll monthly and the appropriate federal and state taxes will be withheld from the employee’s paycheck.
Gift cards for non-employees may be purchased using a PCard.
Individual gift cards must be reported to the University Controller’s Office.
|Information Required for Gift Cards for Employees|
|Full name of recipient(s); a list may be attached to the receipts for multiple recipients Employee ID Email address Gift card value Date of purchase|
|Information Required for Gift Cards for Non-Employees|
|Full name of recipientEmail address (if applicable)Mailing addressGift card valueDate of purchase |
Exceptions to this information being required is if the non-employee is a research incentive participant and has requested anonymity (IRB approved).
The project and/or phase and detailed business justification must be noted on the receipt.
Internal Deadline: 2 business days prior to the university’s statement approval deadline
The Research Experience for Undergraduate (REU) program provides well-structured research opportunities for students. Students will work with experienced faculty on emerging and socially relevant research topics. Students will acquire several skills including hands-on experiences to help them become great researchers in the future.
How To Apply:
Principal investigators are asked to submit a request using the link below. The chosen student will be paid one payment at the beginning of the research period unless requested by the faculty member.
Fiscal Year End Deadlines
No doubt, fiscal year end closeout is a hectic time for business offices throughout the university. Around this time every year, business offices begin the hurried process to meet fiscal year deadlines while continuing to conduct regular business.
What Is Year End?
Fiscal year-end refers to the completion of a one-year, or 12-month, accounting period. During year end, there are certain tasks that must be carried out to close out the previous year and prepare for the upcoming one. NC State operates on a fiscal year calendar, which runs from July 1 to June 30.
Why Is Year End Important?
The purpose of closing a fiscal year is to make sure that all the financial information about university business is accurate and that it has been entered properly. Year end is important because it validates current year expenditures and allows for accurate budget planning for next fiscal year’s expenditures.
The following displays the year end deadlines for fiscal year 2022:
Spending Deadlines: These dates are the last day new orders/expenses/journals should be submitted or incurred.
- The last day to spend ETF and Enhancement Fee funds will be April 30th, 2022. Purchases needed after April 30th should not post to the ETF or Enhancement Fee projects. Orders placed prior to April 30th may be received in May and June, but new orders using ETF or Enhancement Fee funds should post to other funding sources after April 30th, 2022.
- The last day to spend State funds will be May 31st, 2022. Purchases needed after May 31st should not post to the state projects. Orders placed prior to May 31st may be received in June, but new orders using State funds should post to other funding sources after May 31st, 2022.
- MAY P-CARD STATEMENT APPROVAL DEADLINE: The due date by which all COE P-card statements for May 2022 should be fully approved is June 13th.
Please contact ECE Finance if there are any questions or concerns.