Donate to Hurricane Recovery

Statewide Policies Alphabetical Listing

The State of North Carolina recognizes a fiscal year beginning July 1 and ending June 30. Budgetary reporting, budgetary control, and financial reporting in accordance with GAAP are based on this accounting cycle...

Techniques for collection of accounts receivable shall include use of credit reporting bureaus, judicial remedies authorized by law, and administrative setoff by a reduction of an individuals tax refund pursuant to the Setoff Debt Collection Act, Chapter 105A of the General Statutes, or a reduction of another payment, other than payroll, due from the State to a person to reduce or eliminate an accounts receivable that the person owes the State...

Additions are considered separate assets and should be capitalized if the cost equals or exceeds the $5,000 capitalization threshold. An addition increases the physical size or operating capabilities of an asset through expansion or extension...

Agencies and institutions should ensure that accounting and financial management systems are adequate to properly account for, record, and manage receivables, whether those systems are manual or automated...

All State entities whose payroll expense requirements are provided by a payroll system administered by the Office of the State Controller (OSC), shall ensure that sufficient funds are available and remitted to the OSC payroll disbursing account; prior to the date payments are scheduled to be made to employees and vendors receiving withholdings...

State agencies must establish internal policies and procedures for the collection of accounts receivable consistent with statewide accounts receivable policies and procedures adopted by the State Controller and the following statutory requirements...

It is the responsibility of every state agency to address deficiencies or weaknesses identified through an audit on a timely basis...

All State agencies or other participants utilizing Electronic Funds Transfer (EFT), whether through the OSC’s Master Services Agreement or under separate arrangement, shall develop procedures to ensure compliance with all NACHA operating rules, specifically as they pertain to Receiver (i.e. citizen or business) Authentication and Authorization, before originating debit or credit entries against the Receiver’s account (Article Two)...

All State agencies or other participants utilizing Merchant Card services, whether through the Statewide Master Services Agreement or under separate arrangement, shall develop procedures to ensure compliance with the Processor’s operating guide regarding the obtaining of authorizations...

Buildings are structures that are permanent in nature and have an asset life of two or more years. They are subject to depreciation...

Subscribe to Documents