[Ucrfacultyandstaff] Impact23 Program: Upgrading our Financial Systems on July 1, 2023

[Provost]

Dear Colleagues,

Implementing the new financial system (Oracle Financials) is part of the Impact23 Program that will transform how UC Riverside (UCR) transacts, develops budgets, tracks spending/revenue, and performs financial reporting. The following guiding principles<https://impact23.ucr.edu/mission-guiding-principles> will continue to direct and support the vision of this initiative as we near the five (5) month countdown for replacing outdated financial systems with new, more flexible, cloud-based technology.

Transition and Preparation
I sincerely thank Impact23 Program<https://impact23.ucr.edu/program-team> participants, faculty and staff from across the campus, who have shown an outstanding commitment to the design and continued testing of our new financial systems. There is still work to complete as we near July 1, 2023, but I am confident the program team and infrastructure will ensure a successful transition. If you need to get up to speed, please read the latest Insider News edition, review the Impact23 Faculty Briefing Deck, and attend the Impact23 Summit virtual conference throughout March. Tuesday, March 14th and Wednesday, March 22nd (the reporting session) will have topics of particular interest to UCR's Faculty.

New Chart of Accounts (COA)
Effective July 1, 2023, all UCR accounting entries must be recorded and reported using the new UCR Chart of Accounts<https://impact23.ucr.edu/chart-accounts-poetaf>, which complies with the UC Office of the President (UCOP) Common Chart of Accounts mandate. The UCOP decision to adopt the common chart allows each campus to have autonomy and implement the best financial system to meet their needs, rather than having a UCOP-managed system similar to UCPath. UCR's new COA will be one of the most significant changes associated with the new financial system implementation and will impact any individual who uses the current Financial Accounting Unit (FAU) structure to perform their duties or consume financial reports.

Program Resources

  *   Impact23 Website<https://impact23.ucr.edu/>
  *   Insider News<https://impact23.ucr.edu/insider-newsletter>
  *   Impact23 Summit<https://impact23.ucr.edu/impact23-summit> (March Virtual Conference)

For any questions or more information, please get in touch with Impact23 at ucr.edu<mailto:Impact23 at ucr.edu>. Faculty, please note that there is a Faculty Advisory Workgroup that has been actively engaged in consultation with the Impact23Steering Committee. You can contact Vice Chair of the Academic Senate Declan McCole for more information.

Sincerely,

Liz

Elizabeth Watkins, PhD (she / her / hers)
Provost and Executive Vice Chancellor
Professor of History
University of California, Riverside
951.827.1129 | Elizabeth.Watkins at UCR.edu<mailto:Elizabeth.Watkins at UCR.edu>

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