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Chart of Accounts Redesign Project phase 2 update

Sep 9, 2019

The project to redesign Pacific's Chart of Accounts (COA) is making steady progress toward the July 2020 implementation date. The COA is the university's financial backbone: the mechanism for organizing and tracking accounts and reporting financial hierarchies.

Pacific is redesigning its COA to make financial data more readily accessible, consistent and manageable, and to better support decision-making across the university. The existing COA does not meet the current and evolving budgeting and financial management needs of the university. Better data results in better decision-making.  

When it is rolled out in July 2020, the new COA will be:

  • Simple, intuitive and easy to use.
  • Dynamic, flexible and scalable.
  • Accessible and accurate.
  • Supported by robust guidelines and documentation.  

How will the new COA help the university?
The new COA will benefit all members of the Pacific community, because it will ensure better financial oversight and decision-making across the university. It will specifically benefit:

  • Employees who are responsible for categorizing, tracking and reporting the university's financial transactions.
  • University leaders who use financial data to manage their budgets and to inform planning and decision-making for their units and the university.   

What's been done so far?
Since the last project update, the project team has:

  • Established high-level definitions and criteria for each account.
  • Implemented more flexible and robust financial reports (using the Argos reporting tool).
  • Completed initial, comprehensive account changes; these are now ready to load into a test version of the COA.  

What's next?
The team is working to complete a test version of the new COA by Oct. 1 so that designated business managers and finance staff can begin testing it January 2020. 

Where can I learn more about the CoA project?
The project team will update the university community through ongoing communications, in-person presentations and on the project's SharePoint site (go.pacific.edu/COA). Please continue to share your input throughout the process via email (COA@pacific.edu). 

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