Process Improvement Initiatives

The UNC FIT process improvement initiatives seek to document baseline process standards, create standard templates, checklists and forms, and develop process tracking key performance indicators.  To date, the process teams have implemented improvement initiatives in the following areas:

  • Contracts and Grants
  • General Accounting and Financial Reporting
  • Financial Aid
  • Capital Assets
  • Student Accounts

The UNC FIT project will update process improvements in these areas over time as appropriate and add additional process improvement initiatives as other risk areas are identified and resources become available.

Contracts and Grants

Purpose and Scope

The purpose of the Contracts and Grants initiative is to provide guidelines for establishing and maintaining the baseline standards for the post-award Contracts and Grants Process of the University of North Carolina (UNC) System. The focus of the process improvements encompass the following six sub-processes: 1) Account Setup, 2) Time and Effort, 3) Grant Management, 4) Billing and Drawdowns, 5) Reporting, and 6) Grant Closeout.

The standards apply to all sponsored projects within the UNC System.  Further, the document assumes the successful completion of the Pre-Award stage (from identifying funding and proposal development and submission) through successful negotiation and acceptance of the award as well as completion of the regulatory review and approval process.

Mission Statement

The Contracts and Grants Office is dedicated to enhancing University research and sponsored activity by providing guidance and support services to its various stakeholders during the Post-Award stage of the process from award setup to award closeout.
UNC FIT Contracts and Grants (PowerPoint)

For more information regarding the Contracts and Grants Initiative please contact Sarah Smith, process team lead.

General Accounting

Purpose and Scope

The purpose of the General Accounting initiative is to provide guidelines for establishing and maintaining the baseline standards for the General Accounting processes of the University of North Carolina (UNC) System.  The focus of the process improvements encompass four sub-processes in transactional processing and two sub-processes related to financial reporting.  The four sub-processes for transactional processing are:  1) Bank Account Reconciliation, 2) Journal Entries, 3) Maintain Fund Accounts, and 4) Maintain Daily Cash.  The two financial reporting sub-processes are Month End Close and Year End Close.     

Mission Statement

The General Accounting Office is dedicated to assisting campus leadership with applying the transactional processing and financial reporting standards to improve the general accounting processes in all of the UNC system campuses.
UNC FIT General Accounting (PowerPoint)

For more information regarding the General Accounting Initiative please contact Cliff Flood, Process Team Lead.

Financial Aid

Purpose and Scope

The purpose of the Financial Aid initiative is to provide guidelines for establishing and maintaining the baseline standards for the Financial Aid Process of the University of North Carolina (UNC) System. The focus of the process improvements encompass the following seven sub-processes: 1) Application, 2) Satisfactory Academic Progress, 3) Packaging, 4) Scholarships, 5) Loans, 6) Return of Title IV Funds, and 7) General Management.

Mission Statement

The Financial Aid Office is dedicated to assisting students with meeting college costs and with the process of applying for financial resources necessary to attend college.
UNC FIT Financial Aid (PowerPoint)

For more information regarding the Financial Aid Initiative please contact Bruce Mallette, Advisory Team Lead or Autumn Carpenter, Process Team Lead 

Capital Assets

Purpose and Scope

The purpose of providing Capital Assets standards is to ensure that university assets are properly acquired, accounted for, maintained, and disposed of.  These procedures are carried out in accordance with State policies, Federal regulations, audit requirements, and governmental accounting standards.

According to the North Carolina Office of the State Controller (OSC), the term "capital asset" refers to property, such as land, land improvements, easements, buildings, equipment, works of art and historical treasures, and infrastructure, with a cost equal to or greater than $5,000 and a useful life of two or more years. Capital assets are acquired for use in normal operations and are not for resale. 

These standards are intended to address capital assets using OSC’s definition referenced in the prior paragraph.  More specifically, given historical data and the materiality of certain financial statement account balances, the focus of these standards is Equipment and Buildings. It should be noted that even though these standards address only capital assets, each department within a university is responsible for maintaining and safeguarding all assets regardless of cost.

Mission Statement

The Capital Assets Group is dedicated to:

  1. Maintaining an accurate listing of all capital assets held by the university as mandated by state and federal regulations.
  2. Maintaining accurate accounting and internal control records that document capital assets including proof of asset existence, ownership, and proper valuation.
  3. Providing uniform procedures and communication to the campus community to encourage proper use and control of capital assets.

For more information regarding the Capital Assets initiative please contact Cliff Flood. 

Student Accounts

Purpose and Scope

The Student Accounts standards are intended to promote standardized billing practices, maximize collection activities, and provide support for ancillary activities.  These procedures are performed in accordance with state policies, federal regulations, audit requirements, and governmental accounting standards.

Mission Statement

The Student Accounts Office is dedicated to:

  1. Providing timely and courteous service to students, parents, alumni, and the university community.
  2. Promoting leading business practices through the optimum use of human resources and technology.
  3. Ensuring university billing and collection procedures are in compliance with state and federal statutes.

For more information regarding the Student Accounts initiative please contact  Autumn Carpenter or Dee Bowling, Process Co-leads.