The UC Merced Office of the Controller is issuing the following guidance related to recording financial transactions using Function 76, Function 80, and Agency Funds in the Oracle Financial System.
The UC Office of the President has clarified the use of Function 76, Function 80, and Agency Funds with system-wide Accounting Procedure updates. This updated guidance takes into consideration the Common Chart of Accounts (CCoA) and CFS file schemas that transmit UC Merced’s data from our local Oracle instance to the consolidated financial statements.
Effective Friday July 14, updates will be implemented within Oracle and Concur to streamline approval workflow for Research Administrators (RA) and Fiscal approvers.
Oracle Updates
Oracle approval workflow has been updated to note that only one approver will be required for each requisition. In the case that an additional approver is required, the requestor may utilize the “overriding approver” field. Specifically:
The Office of the Controller receives numerous requests for exceptions to policy every week. We would like to reiterate that exceptions to policy should be infrequent in nature and must align to a bona fide University business purpose.
The November 2023 accounting period is now CLOSED.
The UC Merced Office of the Controller is issuing the following guidance on the Project Attribute in the Common Chart of Accounts (CCoA).
The Project Attribute tracks the financial activity for a “body of work" that often has a start and end date that spans fiscal years or activities funded by a sponsor.
Campus partners,
The Controller’s Unit is pleased to announce that team members from Contracts & Grants Administration, Project Portfolio Financial Management, and Financial Planning & Analysis partnered to develop and test a proposed Sponsored Project Close Out Checklist. The objective of this checklist is to clearly outline the required steps, by responsible party, to successfully close out a project in the Oracle ERP and UCMPLAN systems.
We’ve heard you, campus partners. You need information and tools that allow you to leverage financial data that empowers you to perform your tasks effectively and efficiently.
Starting immediately, online office hours for the Financial and Accounting Services team will be used to address these crucial needs.
(Note: This announcement was edited Aug. 22, 2023 to change the guidance for submission of actuals adjustment requests.)
Campus colleagues,
Please review this important information about financial activities in the prior and current fiscal years. I also encourage you to share this with others who may benefit from this information.
Financial Report Review
