NORTH CAROLINA SCHOOL OF SCIENCE AND MATHEMATICS
BUSINESS OFFICE PROCEDURES MANUAL
Updated and Reviewed September 2015
SECTION 1: OVERVIEW
The Business Office is an administrative department within the Operations Division of the North
Carolina School of Science and Mathematics. The department is responsible for the daily financial and purchasing operations of the School, including general accounting, accounts receivable, accounts payable, purchasing, budgeting, payroll, capital assets, travel, grant administration, and financial oversight.
The mission of the Business Office is to provide effective and efficient financial service and support to all constituents of the North Carolina School of Science and Mathematics.
The main objectives of the Business Office are to provide:
 financial guidance
 financial processing
 financial reporting
The goals of providing financial guidance to the constituents are to provide:
 budgetary and personnel information and updates
 processing assistance for deposits, purchasing and requisitions
 reporting assistance for special requests
 safeguarding of assets including cash and capital assets
The goals of providing financial processing to administration, board of trustees, UNC General
Administration, Office of State Budget and Management (OSBM) and Office of the State
Controller (OSC) are:
 budgetary and personnel processing for payroll
 processing deposits, purchasing and requisitions for state funds
 processing of budget revisions and reallocations
 financial processing and recording of SCSSI deposits and disbursements
The goals of providing financial reporting to administration, board of trustees, UNC General
Administration, OSBM and OSC are:
 monthly, quarterly and annual personnel reporting as requested
 monthly, quarterly, and annual financial reporting of revenues and expenditures
 financial reporting of grants revenues and expenditures as required by grantee
 financial reporting of the Student and Constituent Support Services, Inc.(SCSSI) to Board of Directors
Following are procedures and guidelines for various Business Office functions. No set of guidelines can be written that addresses every possible decision which may arise. These are some basic rules, regulations, and precedents which can help to guide an employee in making wise spending decisions. These guidelines are provided to ensure that employees carry out
NCSSM’s mission effectively, by ensuring that fiscally wise, sound and legal spending practices are followed.
Section 1 – Overview (9-30-2015) 1