[Msoadm] Budget Update

[Stephanie L Flores]

Dear Colleagues,


I would like to provide a Budget update to all Oracle Financial users. As you are aware in order to stand up the Oracle platform for functionality on 7/1/23, we needed to establish budgets. Because FY22-23 was still open, the decision was made to use the 5/31/23 Perm Budget and 5/31/23 cash balances on non-Perm Budget funds as the interim budget. The intention was always to replace the 7/1 Perm Budget and the 7/1 Rollover with final Perm Budget and 6/30 balances (aka Carryforward) once FY22-23 was complete.



The final 7/1 Perm Budget was updated in late July and the 6/30 Carryforward (Rollover) Budgets were updated about 2 weeks ago. After this update, many users have submitted UR Tickets because COAs that were previously used are no longer working. The reason is likely because balances were zeroed out between 5/31 and 6/30, so budgets no longer exist to validate that particular COA.





I know many Orgs pull budgets back to the Org's central resources at year end, so if the FY24 allocations have not yet been transferred by the Org central offices back to departments, the COA no longer has a budget and therefore can't be used for transactions until the budget is re-established.





All users should have Oracle Financials access for the "UCR Budgetary Control Inquiry JR" through EACS to quickly determine if your COA has a budget. If not, please reach out to your Department SAA to grant this particular access. If you have access, please follow the steps on the attached Guide (How do I look-up my Budget in Oracle Financials) to determine if your COA has budget. If there is no budget, then please reach out to your department FAO to ensure that the COA you are trying to use is still appropriate or when you might expect budget to be available for FY24 transactions.


Sincerely,

Stephanie Flores

Executive Director

Financial Planning & Analysis




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