The Foundation Data Model (FDM) Translation Tool, which was utilized to convert PeopleSoft chartfield values into Workday values, will be decommissioned after July 31, 2024 . A new report called PeopleSoft to Workday Conversion Details (authentication required) is now available to financial users in the Reporting and Analytics Environment (RAE). This report provides the same information as the translation tool with more accuracy regarding the full worktag combination that was used during conversion. Read the full post for more details and how to obtain help accessing the report.
The detailed FY25 period close and department fiscal payroll processing calendar has been published and is now available on the Controller's website for download in Excel format. Note: In FY25, Assets and Depreciation close will occur on Day 5. Previously, these activity groups closed on Day 3 and 4, respectively.
Two helpful reports are available to assist with year-end business document clean up that was first shared in April ( see original post ).
The "UNIV Remaining Encumbrances - Requisitions, POs, Spent Authorizations" report helps end users identify transactions and their encumbrances that will roll forward at the end of the fiscal year.
The "Purchase Orders with Documents Awaiting Action" report helps end users identify in progress and draft documents which require action before a PO can be closed. This report will only return purchase orders if one or more specifc criteria are met. See the full post for the criteria and more details.
The Forward Accruals and 9 over 12 Academic Pay Period job aid in the Administrative Resource Center (ARC) has been updated with a more realistic example for Forward Accruals. Please review if you have an interest in learning more about the forward accrual calculation.
Effective May 24, 2024 , a revised interim Earnings Operations policy will be issued. Changes were made to advance compliance with current Office of Management and Budget Uniform Guidance, the authoritative set of rules and requirements for federal awards management, and thereby reduce the risk of waste and misuse of federal funds. These changes are listed below.
Refreshing the definitions of the different types of earnings operations. Requiring earnings operations to use the proper accounting processes. Requiring earnings operations to post their fees publicly. Providing guidance around the tracking and recording of capital assets. Requiring ERIK approval of any earnings operation that plans to charge federal grants.
To compliment the changes in the policy, a training on Earnings Operations is available in BuckeyeLearn.
As a part of fiscal year-end activities, subaward supplier contract encumbrances will be closed out for FY24 and re-opened in FY25.
An encumbrance will not roll-forward into FY25 if a subaward supplier contract has an "Amendment in Process" status. This issue was confirmed in testing. As a result, the Office of Sponsored Programs (OSP) is providing guidance for subaward supplier contract amendments as detailed in the full post .
Please refer to the downloadble Unit Year-end Checklist for important year-end dates, timeline information and tasks that need to be performed. Procurement and expenses close will occur at Noon on Friday, June 28 . Similar to last year, to avoid potential accounting issues, we are asking that no transaction approvals, changes, or cancellations occur after that time until the roll forward is complete the following day. This includes Requisitions, POs, Change Orders, Supplier Invoices (for both Internal and External Suppliers), Miscellaneous Payments and Expense Reports . We highly recommend having FY24 procurement and expense transactions fully approved by the end of the day on June 27 .
Starting at noon on Friday, June 28, 2024 , the university will start a "roll-forward" process, which will run until the process is complete. System slowness may be experienced during this time and reporting may be impacted as the process runs. This process will automatically update the budget date to July 1, 2024, on all purchase orders, requisitions and supplier contracts with open obligations created before July 1, 2024. Obligations based on the remaining balance, not yet invoiced, will be moved to FY25. Invoices matched to these POs and supplier contracts following the “roll-forward” will carry a July 1, 2024 budget date. Please continue efforts to close out as many old items with remaining balances as possible to help with the roll forward process .
Beginning with FY25, Memorandum of Understanding (MOU) agreements which lock internal fees for a set period must be adjusted for any annual changes in rates over the life of the MOU. To be compliant with federal Uniform Guidance regulations for specialized service facilities ( 2 CFR 200.468 ) which applies to all internal service providers, federal grants must be charged the lowest rate based on the FP&A approved internal rate that is published and in effect for that fiscal year.
Earnings operations billing federal grants that have existing MOU agreements in place can honor them through the end of next fiscal year, ending June 30, 2025. MOU and Statement of Work (SOW) arrangements are still acceptable for industry sponsored research. The Grants Shared Service Center will still be executing MOUs with FDC to cover construction projects.
Please refer to the downloadable Unit Year-end Checklist for important year end timeline information and tasks that need to be performed. Please make every effort to close out as many old items as possible to help avoid system issues for the year-end roll forward process. As a reminder, purchase orders can close only when the status is issued and there are no:
in-progress or draft receipts. in-progress or draft "Return to Supplier" documents. related supplier invoices with draft, incomplete, or in-progress status. related ASNs in draft or in-progress.
You can view the status of these items on the Business Document Lines of the purchase order. The focus should be on documents tied to old POs with remaining balances that should be closed and not rolled forward. These can be identified using the "Find Purchase Order Details - OSU" report and checking the "Purchase Orders with Remaining Obligations/Encumbrances Only" box. Please work with the appropriate parties to take action on outstanding items by Friday, May 31, 2024 and send lists of POs that are ready to be closed to your Service Center Representative to close. Please also copy the Controller’s Office ( ctl-fdmrequests@osu.edu ) for awareness.
Effective Friday, April 19 , as part of the Campus Position Control Project, Cost Center Managers will now receive costing allocations through their inboxes for New Position Management Positions and all Job Management Hires (who are not paid from Period Activity Pay). This is a change, as historically costing would route to managers to initiate.
Additionally, Cost Center Managers can initiate costing allocations as a standalone process for their own assigned cost centers with no approval required. If a Cost Center Manager initiates cost allocations for cost centers that are not their own, it will route to the appropriate Cost Center Manager to approve.
This new routing should provide enhanced efficiency for both managers and Cost Center Managers.
