CHART OF ACCOUNTS REDESIGN PROJECT November 13, 2017 AGENDA 1 5 - - PowerPoint PPT Presentation

CHART OF ACCOUNTS REDESIGN PROJECT

November 13, 2017

AGENDA 1

Overview

5

Timeline

2

Definition and Benefits

6

Session Format and Guidelines

3

Project Team and Website

7

Stakeholder Contributions

4

Cross-application Impacts

8

Questions

OVERVIEW

• Challenge 2020 Goal – increase research awards to $250 million
• November 2016 – Project Wahoo authorized, including Grants
• March 2017 – Chart of Accounts Change Information session and

survey

• June 2017 – Executive Forum Session
• Executive decision-makers select comprehensive redesign option
• November 2017 – CoA Redesign project initiated

DEFINITIONS AND BENEFITS

CHART OF ACCOUNTS (CoA) - DEFINED

• The basic structure used to record financial transactions
• The CoA is used to organize the finances of the university and to

segregate expenditures, revenue, assets and liabilities in order to provide an understanding of the university’s financial status

• The CoA supports financial and management reporting and serves as

the basis for the fiscal administration of the university’s organizations, funds, programs, projects and activities

CURRENT COA

• Multiple segments – each recording a different element of information about the transaction
• Best reporting/fiscal management capacity is obtained when a sufficient number of fieldsare

established to ensure that one field is not used for more than one purpose

• Important to strike a balance between confirming the uniqueness of each field, yet managing the

number of segments

POTENTIAL DATA ELEMENTS IN A NEW COA

Capturing the data elements in a multi-dimensional CoA What? Why? Where? How? Who?

711101 GL Account 21028 Fund 5C0000 Org XX Cost Center 11 Program 24036037 Project 00000 Activity 01 Location

BENEFITS

• Provides multi-dimensional reporting

capability

• Facilitates fiscal management and

budgeting process

• Enables flexibility in tracking fiscal

activity and program management across disciplines and units

• Accommodates growth and adapts to

changing business requirements

PROJECT TEAM & WEBSITE

PROJECT TEAM & WEBSITE

Executive Sponsor: Christy Tant (F&A) Sponsor: Becky Vilsack (FSS) Steering Committee: Tracy Clark (F&A) Ozlem Garibay (ORC) Joel Hartman (ITR) Elizabeth Klonoff (ORC) William Merck (A&F) Michael Sink (UCF IT) Christy Tant (F&A) Becky Vilsack (FSS) Website link on F&A homepage Project Managers (PM): Varsha Das (FSS) Mark Wray (FSS) Huron Consulting Group: David Klipa, Managing Director Richard McCaulley, Manager Diane Wagner, Associate Project Core Team: Reggie Besana (FSS) Varsha Das (FSS) Donna DuBuc (F&A) Brad Hodum (F&A) Dorann Mullins (FSS) Steve Omli (COM) Brad Smith (FSS) Rich Strohfus (FSS) Christy Tant (F&A) Becky Vilsack (FSS) Mark Wray (FSS)

CROSS-APPLICATION IMPACTS

• Administration and Finance
• Facilities and Safety
• Human Resources
• Institutional Knowledge Management
• Office of Research and

Commercialization

• Provost/Academic Advising/Colleges
• Student Development and Enrollment

Services

• UCF IT
• University Services

TIMELINE

INTERVIEWS/WORKSHOPS PROOF OF CONCEPT/VALIDATION IIMPLENTATION COA/WAHOO

2017 NOVEMBER DECEMBER 2018 JANUARY FEBRUARY MARCH 2019 JUNE JULY

CHART OF ACCOUNTS (CoA) REDESIGN PROJECT TIMELINE

FINAL CoA DESIGN CoA /WAHOO GOLIVE JULY 2019

SESSION FORMAT AND GUIDELINES

SESSION FORMAT

• Interactive sessions led by Huron consultants, project core

team, UCF team leads and subject matter experts (SME’s)

• Team oriented discussions that build upon each other and

are expected to continue through December

• White board and MS Excel used as team tools
• The following will be recorded, assigned, tracked and

available for future reference:

• Action items
• Detailed meeting notes
• Shared drive

SESSION GUIDELINES

• Discussions should stay focused

and on topic

• Active participation is expected and

questions are encouraged

• Minimize jargon and abbreviations
• All perspectives are encouraged and

respected to ensure successful collaboration

• Have FUN!!!

STAKEHOLDER CONTRIBUTIONS

YOUR INVOLVEMENT

• Your contribution is critical to end users acceptance of the new technology and

new business processes

• Designers must understand:
• Information needs
• Reporting requirements
• Training resources and guidance
• Overall experience and design impact
• To make meaningful improvements to your business processes, we need to

hear your perspectives and your ideas/visions for the future

• Timely review and revision of minutes so that the comments can be

considered for future sessions

• Homework

STAKEHOLDER CONTRIBUTION

• Knowledge and experience
• Voice and perspective
• Insight and ideas

THANK YOU FOR ATTENDING