January 2, 1997

MEMORANDUM No. SAD 97-02

TO:           North Carolina Accounting System University Users

FROM:      Don Waugh
                Assistant State Controller

SUBJECT: CAFR Adjustments in NCAS

During the month of January, the Statewide Accounting Division of the Office of the State Controller (OSC) will post all the system adjustments which are included in the 1996 Comprehensive Annual Financial Report (CAFR). These CAFR level adjustments will be made to the detail company, account and center, therefore universities will see these entries reflected in their NCAS reports. The OSC will take full responsibility for reconciling the data. Please do not attempt to delete or adjust these entries.

These CAFR level entries will be entered with an effective date of 6/30/96 and will create NCAS trial balances for the period ended 6/30/96. Actual copies to these entries with supporting documentation will be given to the university during the yearly planning conference.

Please make sure everyone at the university who uses the North Carolina Accounting System is aware that this process is occurring in January. As soon as the OSC completes this final CAFR task, the NCAS will be ready for the 1996 programmatic close.

If you have any questions during this process, please contact your assigned systems accountant in the Statewide Accounting Division at 733-0178.

DW/AWG