The Financial Management Modernization program’s second virtual, campus-wide town hall is scheduled for Thursday, August 25 from 3-4 p.m. PT. This webinar will focus entirely on the new Common Chart of Accounts (CCOA) and provide an in-depth discussion on the financial system changes that users will experience compared to the current campus COA (also known as Full Accounting Unit or Account-Sub-Fund.)
If your job requires you to work with the current COA, we highly recommend you attend this town hall. Additionally, we suggest watching this helpful CCOA Overview video before attending the town hall, which will introduce the new chart segments. Click here to register for the town hall.
As mentioned in the first town hall back in May, one major component of the FMM program is the implementation of a Common Chart of Accounts to replace the current campus COA model. To improve the quality and consistency of financial reporting, the UC Office of the President (UCOP) coordinated a collaborative project with all campuses and medical centers to design a unified CCOA. Like many other campuses, UCSB will be adopting the CCOA by July 2024 as part of the transition to Oracle Financials Cloud.
The complete overhaul of the current COA account strings includes additional chartfields, new chartfield lengths, and changes to the order of the fields in the account string. Over the last several months, FMM project team members have coordinated with UCSB departmental control points, refining how we will use the new chartfield segments and understanding how these changes will impact users. To obtain an overview of the future chart segments, please watch the aforementioned video available at financemanagement.ucsb.edu/resources/common-chart-accounts.
If you have any questions about the upcoming town hall, the CCOA, or the FMM program in general, please submit a contact form on our website or reach out to your departmental representative on the project.
Thank you for your continued support in modernizing our campus financial system.