KFS Workflow Changes and Aggie Enterprise
Starting July 1, 2023, Kuali Financial Services (KFS) workflow for requesting new Full Accounting Unit (FAU) values will change. This change, which is part of a larger data governance strategy, is required to enable UC Davis to meet University of California Office of the President corporate financial reporting requirements.
An interim solution to support reporting requirement and Aggie Enterprise go-live
We must report financial transactions using the new Common Chart of Accounts structure beginning July 1, 2023, however, UC Davis will not go live with the new Chart of Accounts structure until Aggie Enterprise goes live on January 1, 2024. An interim solution was developed to bridge the 6-month gap between required reporting and Aggie Enterprise go-live; KFS workflow change is part of that solution. Enacting Master Data governance by changing KFS workflow supports reporting and ensures new values in KFS are mapped to the correct Chart of Accounts value for Aggie Enterprise go-live balance conversion.
What is changing?
Changes to workflow are dependent on the type of request submitted. Below is a list of scenarios and updates to workflow.
- Requests for new Sponsored Projects and Capital Projects will be submitted in KFS, and the Central team will handle creation of the new CoA values as part of their process.
- Requests for new Gifts will also be submitted in KFS, and the Central team will create the new Gift Fund, in this case, units will be asked to attach a completed FAU to CoA mapping template for the KFS gift expense account.
- If you are requesting a new FAU value and the corresponding CoA value already exists, these requests will be submitted in KFS, and units are required to attach a complete FAU to CoA mapping template.
- If you are requesting a new FAU value that also requires creating a new CoA value, a higher level of review will be required.
- These requests will be submitted using a ServiceNow ticket.
- Units must attach a completed CoA mapping template.
- Units must provide a detailed business case for the new CoA value.
- It should be noted that the ServiceNow queue and the CoA mapping template are in the final stages for design; detailed process documentation will be shared in advance of July 1.
A KFS Data Governance Forum was held on Tuesday, May 30th. Materials are now posted to the Aggie Enterprise Resource webpage, including the meeting recording, slide deck, and a question and answer document recapping the discussion.