DFA's financial team has been focused on fiscal close and working diligently to support the university. This is by far the busiest time of year, but the team members still have dedicated extra hours to the Oracle Data Integrity Project.
This week, the team completed 25 of the payroll account inconsistencies and have alignment plans for material variances in the system. These will be run through the normal process of testing in development before being implemented in the system.
On the budget side, there are a couple of contracts and grants that need further investigation before reconciling their inconsistencies; the team is working on those validations. All in all, the team has made outstanding progress on this effort over the summer to ensure the data flowing into the financial system is complete and accurate.
To ensure DFA and our campus partners stay on top of possible future data inconsistencies, the division has initiated a weekly review, conducted each Friday, to reconcile the accounting ledgers for FY23. Team members have been using it since the start of the fiscal year, and it has proven to be a proactive way to managing the financial system.
Although this will help DFA identify inconsistencies, PIs and RAs still need to monitor spending on contracts and grants, identify any inconsistencies (e.g., inaccurate spending) and notify DFA immediately so it can be investigated.
Interim Vice Chancellor and Chief Financial Officer Kurt Schnier urges everyone to take a moment to thank DFA staff for all the extra effort to support the research community and the work being done on fiscal close. They are all working exceptionally hard right now to ensure our system has a fresh start going into the 2022-23 academic year, Schnier said.
Purchasing
The ticket volume in CBS2 has been falling and currently sits at around 732 tickets, one of the lowest queues the team experienced. Travel and reimbursements consist of nearly 33% of the queue, followed by research procurements (23%). The latter remains CBS2's primary focus, and the team is working diligently to provide research resources. Schnier congratulates the CBS2 team on their efforts to keep the queue low and to process requests as quickly as possible.
