Re: Financial System Update
To: All campus
March 21, 2022
Good morning! Here is an update on the status of UC Merced’s Oracle Financial System and efforts to improve the user experience in the system.
Team members from the Division of Finance and Administration, along with staff from Deloitte (a professional services company) are working to identify and reconcile various out-of-balance accounts and projects. This work is in addition to the Oracle Data Integrity Project, which continues to address financial data variances on a case-by-case basis while looking for solutions that would lead to long-term system stability and data integrity.
The ODIP team determined missing or incomplete Chart of Accounts (CoA) or POET values accounted for nearly nine out of 10 project imbalances. A project is considered out of balance if the project portfolio management (PPM) sub-ledger doesn't match general ledger expenses for the same project. According to the latest data, 54% of all projects are out of balance.
Staff are measuring the impact of a system upgrade in February that auto-populates some chart string values. There are early signs the upgrade had a positive effect on overall data integrity (see Purchasing Support below) and, based on feedback from across the university, has improved user experience.