New Oracle Systems: Budget & COA Management
As part of our ongoing efforts to improve financial operations and reporting, we have implemented two new Oracle-based systems: Oracle Budget and the Oracle COA Management Tool. These platforms provide enhanced capabilities for budget management, financial planning, and chart of accounts (COA) modifications.
Oracle Budget: Allocations & Forecasting
Oracle Budget is now available for budget management and forecasting. Users can leverage the system to:
- Allocate and adjust budgets at the fund, department, and program levels.
- Access real-time budget summaries and variance reports.
- Monitor spending against allocated budgets for better financial oversight.
While Oracle Budget provides essential financial reports, we are transitioning to Looker for a more robust reporting experience. Looker will soon be the primary platform for financial reports, offering enhanced data visualization, custom dashboards, and advanced analytics.
Oracle COA Management Tool: Chart of Accounts Updates
The Oracle COA Management Tool allows users to modify the Chart of Accounts (COA) within the Golden Tree Viewer. Key functionalities include:
- Creating, editing, and deactivating COA segments to ensure accurate financial coding.
- Reviewing hierarchical structures for better financial organization and reporting.
- Ensuring compliance with UC financial policies through structured COA modifications.
These systems are integral to our financial infrastructure, supporting greater accuracy, efficiency, and transparency in budget and account management. More training resources and documentation will be made available as we continue optimizing these tools.
You can access Oracle Budget & the Oracle COA Management Tool in R'Space under "Authorized Apps."
