We continue to make progress on the Oracle Data Integrity Project. Currently, our accounting team has aligned 65% of contracts and grants and 63% of internal accounts. The next steps for our accounting team will be to continue to increase the changes taken into production and to focus on ensuring that the contracts and grants are aligned by the fiscal close.
Given that we are going to be transitioning our accounting practices at fiscal close to primarily use the project subledger for contracts and grants, we will be focusing our efforts on aligning our contracts and grants for the duration of our fiscal year.
The budget alignment team also continues to make progress and has developed alignment plans for 91% of our contracts and grants with identified discrepancies. They have also been able to evaluate 57% of the contracts and grants without identified discrepancies. The next step will be to work with the campus’ RAs to validate the budget alignment plans for contracts and grants and take the changes into production.
Once both the accounting and budget alignment efforts have been validated and taken into production, your contract and grant balances will be aligned, and we will turn our efforts to improve reporting.
Kurt Schnier
Vice Chancellor and interim Chief Financial Officer
