State Treasurer Richard Moore presents WFU with state award
By Maggie Barrett
Wake Forest University received the 2002-2003 State Treasurer's Award for Excellence in Accounting and Financial Management from North Carolina Treasurer Richard Moore. Moore presented a plaque to Maureen Carpenter, university controller, during a breakfast ceremony Oct. 29.
Wake Forest was recognized in the private colleges and universities category for its innovative Deacon Electronic Account Center (DEAC). DEAC has been in operation since December 2003. It is a convenient, online system that allows students and their families to inquire about student accounts and make payments to the university.
DEAC can be used to pay tuition, housing and other routine charges. However, DEAC does more than reflect current charges and payments; it also has a feature that allows students and parents to view future transactions including anticipated tuition, housing charges and financial aid awards for the upcoming semester.
Moore expects that DEAC's success may influence other universities and colleges to create similar programs to improve accounts receivable procedures.
The purpose of the State Treasurer's Accounting/ Financial Management Awards Program is to encourage organizations that benefit from tax exempt financing through the North Carolina Capital Facilities Finance Agency or the North Carolina Medical Care Commission to upgrade their accounting and financial management programs, systems, methods and procedures.