The Transformation Award of Excellence is presented annually to a North Carolina state agency client that most significantly demonstrates innovation, growth, and/or creativity in their payment solutions.
All three major ratings agencies gave the University their highest rating, citing factors such as resiliency during the pandemic and budget management.
Nathan Knuffman, vice chancellor for finance and operations, is the man with the $4 billion budget plan, which he will present to the UNC System Board of Governors at its meeting on May 25.
As part of the new state budget, faculty and staff will soon receive one-time bonuses, with raises coming in 2022. The budget also funds important University initiatives and building repairs.
On Aug. 3, the University’s Travel and Payment Card Services team will formally launch the Concur Travel System, World Travel, Inc., as well as the Travel & Expense Card Program. Rebecca Spanos, Travel and Payment Card Services manager, talks about this campuswide endeavor.
The University’s efforts to rein in its structural deficit, mitigate shortfalls resulting from the COVID-19 pandemic and centralize budgeting helped bolster the rating.
University administrators answered the call to address the structural budget shortfall by aligning resources more closely with the academic mission of the University.
The University’s revenue sources vary, but nearly all have restrictions, while the University’s largest expense goes to salaries and benefits for its employees.
With Carolina facing a projected $300 million budget shortfall, it’s never been more important to understand University finances.
For obvious reasons, we will be unable to meet together in person this year, but we look forward to seeing everyone in a virtual Zoom gathering. In addition to comments from our leaders, trivia, a scaled-down raffle and presentation of the All Star Awards, this year we will be asking you to help add to the fun and camaraderie by sending pictures or videos for us to share during the event.
