The Oracle Data Integrity Project is addressing some of our more complex alignment issues, but we are prioritizing contracts and grants. Our team has reconciled approximately 54% of contracts and grants and 60% of our internal accounts.
Approximately 21% of all accounts (including gifts) have been corrected in the Oracle system. This week, through our partnership with External Relations, we have identified the path forward for gifts and will be converting these accounts to the general ledger.
Our budget alignment efforts are moving forward. Approximately 79% of budget alignment accounts have received a first review. The next step will be reviewing all accounts, including those the system says are aligned, and validating our work with RAs for agreement,
Today we sent a campus announcement regarding the future use of the project sub-ledger vs. the general ledger to help simplify the requirements to transact in the system. This transition will be gradual and take some time - most likely measured in months instead days or weeks - but the end goal is to use the project sub-ledger predominately for externally funded contracts and grants and the general ledger for internal funds.
We greatly appreciate our partnership with the school’s financial staff in making this decision. We will provide more details over the coming months.
Procurement
We have been able to reduce some of the increased backlogs in the travel tickets over the past few weeks and are starting to see improvements in the turnaround times. However, volumes are still high, so please schedule your travel well in advance to ensure we can support your needs. Furthermore, as travel is returning to normal, we are seeing some additional process improvements that we can work on over the summer as well. The most pressing that we see right now is the flight ticket hold and purchasing process, and our teams are investigating this now. We hope to have progress to report in the future.
Kurt Schnier
Interim Vice Chancellor and Chief Financial Officer
