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Chart of Accounts Redesign Project: Design Phase

Since the October update on Compass, the Assessment Phase of the current Chart of Accounts usage was completed and a series of future state design sessions were held. In these future state design meetings, the core project team reviewed internal and external reporting requirements, looked at best practices in designing a new COA, gathered information from other universities’ Chart of Accounts to determine leading practices and to propose a new COA structure. On October 6, the proposed structure was reviewed with the RC Strategy and RC Technical Groups to validate and determine the order of the segments. This new structure and segment order, which meets the “Who, What, Why, Where, and How” requirements, is detailed below.

The new COA Segment Structure and Order
(Determined by University Community)
Image of the New COA Segment Structure and Order. The order is Entity, Source, Org, Activity, Natural Account, and Function.

During the month of November, working groups have been assembled to create a list of values for each segment so that this can be vetted with the University community.

In an effort to ensure that campus feedback and needs are addressed during the design of the new COA values, a Chart of Accounts Partner Group has been formed and is comprised of representatives from the campus community. This group will advise the project team on key decisions that impact campus users and will also inform the RC Strategy Group. The COA Partner Group will meet regularly throughout the implementation of the new COA and for a period of time after Go Live.

Members of the COA Partner Group include:

  • Rosanna Howard, Regional Campuses
  • Becky Maccombs, Engineering
  • April Ritchie, Arts & Sciences
  • Tina Payne, Finance & Administration
  • Diane Cahill, International Studies
  • John Day, Provost

The first Partner Group meeting is scheduled for Friday, November 13. During this session, the Partner Group will review progress to date and set the agenda for work to begin. It is expected that this Partner Group will be heavily involved in the definition of the natural account values, provide input on the use of Activity Segment, assist in the identification of business and cross validation rules, and define business cases for demonstrations and testing.

The project team will also launch a Chart of Accounts Redesign Project website with an estimated completion date in early January 2016. Additional information regarding the website will be published on Compass.

If you have any questions or would like more information please send an email to coa@ohio.edu.