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Department Champions Meeting

Department Champions Meeting. May 29th, 2013. Agenda. Change Management Champion and Department Managers roles in change management “Change Management 101” – What to expect Tools to facilitate change July 1 Changes Why they’re happening What to expect How to prepare

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Department Champions Meeting

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  1. Department Champions Meeting May 29th, 2013

  2. Agenda • Change Management • Champion and Department Managers roles in change management • “Change Management 101” – What to expect • Tools to facilitate change • July 1 Changes • Why they’re happening • What to expect • How to prepare • Resources

  3. Change Management

  4. The Champion and Department Manager team outreach Champion • What can I do in my role to support the change? • How can I support and share what I know with my Department Manager? Department Manager • What can I do in my role to support the change? • How can I collaborate with my Champion? outreach outreach communication UCSF Champions hold a variety of positions in departments Some Champions are also Department Managers Key is for Champions and Department Managers to work together to facilitate change

  5. The Champion is a change management partner

  6. Experiencing change: the ADKAR Model Awareness Desire Knowledge Ability Reinforcement I know why the change is happening I want to participate in transitioning to the improved “new world” I know what the change looks like and how it affects me I have the ability to implement the change on a day-to-day basis I want to keep the changes in place and not go back to the “old world” Time Everyone goes through the same stages when dealing with change Duration of each stage differs for everyone

  7. Individuals and groups progress at their own pace Awareness Desire Knowledge Ability Reinforcement Awareness Desire Knowledge Ability Reinforcement Champions Desire Knowledge Ability Reinforcement Awareness Awareness Desire Reinforcement Knowledge Ability Awareness Knowledge Ability Reinforcement Desire Desire Awareness Knowledge Ability Reinforcement Ability Reinforcement Awareness Desire Knowledge Awareness Desire Knowledge Ability Reinforcement Awareness Knowledge Ability Reinforcement Desire Knowledge Awareness Desire Ability Reinforcement Other Dept Managers Awareness Desire Knowledge Ability Reinforcement Awareness Knowledge Ability Reinforcement Desire Awareness Desire Knowledge Ability Reinforcement Awareness Desire Ability Reinforcement Knowledge Awareness Desire Knowledge Awareness Awareness Desire Knowledge Ability Others Awareness Desire Desire Awareness Awareness Desire Desire Knowledge Ability Awareness

  8. How to manage the complexity of change Awareness Desire Knowledge Ability Reinforcement I want to participate in transitioning to the improved “new world” I know why the change is happening I know what the change looks like and how it affects me I have the ability to implement the change on a day-to-day basis I want to keep the changes in place and not go back to the “old world” Training Post-Implementation Support Department Readiness Toolkit All-campus Communications • We will provide tools to help you: • Progress through the change yourself • Guide others to the right resources for their stage

  9. Change management timeline

  10. F3 Department Readiness Tool preview • Purpose • To orient you in the Finance3 project (providing both detail and global view) • Give you the tools you need to work with your Department Manager to prepare your department for Go-Live • Available online on June 10th • Content frequently added so check regularly • Demo

  11. Training timing and delivery • Chart of Accounts – beginning in September/October • MyReports – beginning in October/November • Hyperion – beginning in December/January

  12. July 1 Changes

  13. Why are changes happening now? • We are preparing for a smooth transition to the new COA, MyReports, and the Hyperion Planning tool • Financial data for the first six months of 2013-14 will be converted to the new COA and uploaded to MyReports and Hyperion at launch • Various changes need to occur at the beginning of the fiscal year (July 1) in order to • Organize financial data to successfully convert to the new COA • Separate “plan” from actual financial balances before launch • Allow departments time before conversion to new COA to review their financial balances and make adjustments as needed

  14. July 1, 2013 changes and impacts Change Temporary Budget is going away* New NCAs being added and changes in the way equity NCAs are used Impacts Units will manage balances in the financial ledger WebLinks reports may appear different Begin to use new NCAs and reference field in equity journals Fund balances will become Fund/DPA balances Allocations for non-sponsored funds will be recorded differently Temporary budget journal use will be limited Ad hoc tool reports and other departmental systems that point to the budget ledger may look different PI Portfolio reports that display non-sponsored funds may look different *except for sponsored projects and plant

  15. 2013-14 will be a transition year F3 Go-Live No budget reappropriations Budget transactions for sponsored projects and plant only General ledger financial balances managed at Fund/DPA DPA required on equity and revenue transactions Reference field containing new account is required on all equity journals Convert to new Chart of Accounts Planning begins in Hyperion Budget journals for sponsored projects only MyReports goes live WebLinks becomes archive

  16. July 1, 2013 changes and impacts Change Temporary Budget is going away* New NCAs being added and changes in the way equity NCAs are used Impacts Units will manage balances in the financial ledger WebLinks reports may appear different Begin to use new NCAs and reference field in equity journals Fund balances will become Fund/DPA balances Allocations for non-sponsored funds will be recorded differently Temporary budget journal use will be limited Ad hoc tool reports and other departmental systems that point to the budget ledger may look different PI Portfolio reports that display non-sponsored funds may look different *except for sponsored projects and plant

  17. Reducing use of the Temporary Budget will provide clarity to financial activities • Currently: • Departments manage balances using both the financial and budget ledgers • The temporary budget is a mix of plans, carryforward balances, and appropriations • Understanding your financial position requires examining both ledgers • Separating the budget from financial actuals will distinguish plans from financial results • Eliminates need to reconcile plan with actuals at year-end • Moves all non-sponsored funds to a revenue minus expense perspective

  18. Beginning July 1, units will primarily manage financial balances in the financial ledger • As of July 1, the PeopleSoft budget ledger will only be used for sponsored projects (and plant will use the budget ledger until Hyperion launch) • In January, Hyperion and PI Portfolio will be the primary sources of financial “plans” • Units will need to change business processes • Begin to manage financial balances in the general ledger at a more detailed level • Use Ad hoc methods to manage budgets for 2013-14 • Create the plan in Hyperion for 2014-15 after launch in January 2014

  19. Managing in the financial column: move equity and revenue to specific DPAs After July 1 Current State *Equity will convert to Revenue at Go-Live based on transfer account used in reference field

  20. July 1, 2013 changes and impacts Change Temporary Budget is going away* New NCAs being added and changes in the way equity NCAs are used Impacts Units will manage balances in the financial ledger WebLinks reports may appear different Begin to use new NCAs and reference field in equity journals Fund balances will become Fund/DPA balances Allocations for non-sponsored funds will be recorded differently Temporary budget journal use will be limited Ad hoc tool reports and other departmental systems that point to the budget ledger may look different PI Portfolio reports that display non-sponsored funds may look different *except for sponsored projects and plant

  21. Fund balances become Fund/DPA balances • Starting January 2013, departments began allocating fund balances to DPAs using journal entries • During closing foryear-end 2012-13, any unallocated Fund balances will be automatically allocated to a default DPA • If it is a sponsored fund, the DPA for the Primary Project is the Default DPA • For non-sponsored funds with multiple Fund/DPA combinations, the Fund STIP Account (DPA) will be used • The close process will retain the DPA net position/equity balance forward • A new chartfield validation rule will require a DPA on all revenue and equity NCA’s beginning July 1, 2013

  22. Current methodology: balance at Fund only • Currently, only Fundscarry-forward and have balances in equity at the beginning of the year. DPAs do not carry a financial balance, do not require revenue, and start with $0 every year: By Fund By DPA

  23. New methodology: Funds allocated to DPAs BothFunds and DPAscarry-forward and have balances at the beginning of the year. If unallocated, the default DPA receives the balance:

  24. How you manage your balances will change F3 Go-Live Dept ID/Fund/Project Fund Fund/DPA

  25. July 1, 2013 changes and impacts Change Temporary Budget is going away* New NCAs being added and changes in the way equity NCAs are used Impacts Units will manage balances in the financial ledger WebLinks reports may appear different Begin to use new NCAs and reference field in equity journals Fund balances will become Fund/DPA balances Allocations for non-sponsored funds will be recorded differently Temporary budget journal use will be limited Ad hoc tool reports and other departmental systems that point to the budget ledger may look different PI Portfolio reports that display non-sponsored funds may look different *except for sponsored projects and plant

  26. Centrally-managed funds will be transferred monthly, quarterly or less frequently

  27. How do I manage my finances during the transition year? • For sponsored funds, budget will continue to be populated and funds can be managed using WebLinks or PI Portfolio reports • For non-sponsored funds, budget column will contain zeros • Start thinking about how cash will flow • Monthly/quarterly allocations of funds • Timing of other revenue sources • Consider: • The financial balance at a given point in time AND • Revenues and expenses expected for the rest of the year

  28. How do I know what my total budget is? Resources: • Key Documents: • Chancellor’s Allocation Letters to Control Points • Dean’s/Vice Chancellor’s Allocation Letters to Departments • Approved Consolidated Budget • What other documents do you reference? • Permanent Budget Data (brm.ucsf.edu) • 2013-14 Allocations by Fund/DPA, updated monthly • “Permanent” Fund sources only

  29. How do I know what my total budget is? • Consider other fund sources that you will need to manage in the financial ledger: • Sales and Service Funds • Recharges • PSA Transfer • External Sources • Gift and Endowment Funds

  30. July 1, 2013 changes and impacts Change Temporary Budget is going away* New NCAs being added and changes in the way equity NCAs are used Impacts Units will manage balances in the financial ledger WebLinks reports may appear different Begin to use new NCAs and reference field in equity journals Fund balances will become Fund/DPA balances Allocations for non-sponsored funds will be recorded differently Temporary budget journal use will be limited Ad hoc tool reports and other departmental systems that point to the budget ledger may look different PI Portfolio reports that display non-sponsored funds may look different *except for sponsored projects and plant

  31. Temp and permanent budget journal use • Temporary budget journals • Will be used for sponsored projects and plant funds only • Source Code 135 journals in PeopleSoft • For sponsored projects, Source Code 137 will still be used to allocate the STIP budget • Permanent budget journals will not change • Permanent budgets need to be maintained through December • Process will remain in place: • Source Code 144 journals in PeopleSoft • Permanent budgets will be uploaded to Hyperion at Go-Live

  32. July 1, 2013 changes and impacts Change Temporary Budget is going away* New NCAs being added and changes in the way equity NCAs are used Impacts Units will manage balances in the financial ledger WebLinks reports may appear different Begin to use new NCAs and reference field in equity journals Fund balances will become Fund/DPA balances Allocations for non-sponsored funds will be recorded differently Temporary budget journal use will be limited Ad hoc tool reports and other departmental systems that point to the budget ledger may look different PI Portfolio reports that display non-sponsored funds may look different *except for sponsored projects and plant

  33. NCAs added July 1 to facilitate better reporting Benefit: • To facilitate consistent reporting in 2013-14 • New salary and benefit NCAs: • Separate faculty from non-faculty academics • Affect reporting only • Other new NCAs • Separating tuition accounts by semester • Sponsored project equipment expenditures are segregated • Subawards to other UC campuses

  34. NCAs added July 1 to facilitate better reporting • New Salaries and Benefits reporting

  35. Other NCAs added July 1 to facilitate better reporting

  36. Temporary change to allocations and equity journals Goal: To create a method for transferring money between funds • To create a mapping for conversion • To facilitate financial allocations in the absence of a budget ledger • To identify types or purposes of transfers • To improve tracking and transparency Requires: • Temporary workaround from July 1- Go-Live given existing system limitations • All allocations will appear as equity journals with the new transfer account in the reference field • All equity journals will require the new transfer account in the reference field

  37. All equity journals require new transfer account in the reference field New transfer account required in reference field

  38. All equity journals require new transfer account in the reference field

  39. All equity journals require new transfer account in the reference field • Moving money within current fund only

  40. All equity journals require new transfer account in the reference field • Moving money between different fund types

  41. July 1, 2013 changes and impacts Change Temporary Budget is going away* New NCAs being added and changes in the way equity NCAs are used Impacts Units will manage balances in the financial ledger WebLinks reports may appear different Begin to use new NCAs and reference field in equity journals Fund balances will become Fund/DPA balances Allocations for non-sponsored funds will be recorded differently Temporary budget journal use will be limited Ad hoc tool reports and other departmental systems that point to the budget ledger may look different PI Portfolio reports that display non-sponsored funds may look different *except for sponsored projects and plant

  42. Expect changes to WebLinks • For July-December, WebLinks will reflect incomplete information • Except for sponsored and capital projects, there will be no information in the budget column • Horizontal balance will be meaningless • Monthly/quarterly allocations means financial column won’t reflect total expected revenue • Financial column vertical balance will not tell you the whole story

  43. Sample Report: Fund summary by DPA prior to fiscal close

  44. Sample Report: Fund summary by DPA during fiscal close (old practice) 2 1 During fiscal close in previous years: 1. The Fund balance would be re-appropriated to the budget in a balance sheet NCA, either at the Fund level or the Fund/DPA level 2. The financial balance for each DPA would be zeroed out

  45. Sample Report: Fund summary by DPA after fiscal close (new practice) 1 2 3 After fiscal close 2012-13: 1. “DPA NOT USED” equity transferred to default DPA; no balance in “DPA NOT USED” 2. Budget column is zeroed out 3. If equity is not transferred from the No DPA/Default DPA to other specific DPAs, the specific DPAs will be in deficit

  46. Sample Report: Fund summary by DPA after fiscal close (new practice) 1 2 3 After fiscal close 2012-13: 1. “DPA NOT USED” equity transferred to default DPA; no balance in “DPA NOT USED” 2. Budget column is zeroed out 3. If equity is transferred from the No DPA/Default DPA to other specific DPAs, the specific DPAs will reflect carryforwards

  47. July 1, 2013 changes and impacts Change Temporary Budget is going away* New NCAs being added and changes in the way equity NCAs are used Impacts Units will manage balances in the financial ledger WebLinks reports may appear different Begin to use new NCAs and reference field in equity journals Fund balances will become Fund/DPA balances Allocations for non-sponsored funds will be recorded differently Temporary budget journal use will be limited Ad hoc tool reports and other departmental systems that point to the budget ledger may look different PI Portfolio reports that display non-sponsored funds may look different *except for sponsored projects and plant

  48. Limitations of departmental systems pointing to budget ledger • Similar to WebLinks users, Ad hoc users need to look at the data differently • Additional information will be in the financial ledger • Depending on how your reports are written, they may not accurately reflect the financial position • Reports generated using other departmental systems that point to the budget ledger may look different • Work with management and Control Points to set expectations

  49. Changes require department action

  50. When you can expect the changes

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