If you've been keeping up with news from UVAFinance lately, you may have heard that the transition to Workday Financials from Oracle will bring changes to budgets vs. actuals as we've come to expect them to appear.
Read more about fund ownership visibility on the blog. This post details the difference between BUDGETS and ACTUALS.
Even though these changes bring benefits, they represent a departure from the traditional way we refer to "budgets." Knowing this, the Budget Process Redesign Group reconvened and helped the budget team refine the materials linked below to support stakeholders as they view expendable fund balances and navigate the change in some types of transactions.
Posted now on the Budget Management part of the UVAFinance website:
Your school or unit will communicate internally on how they will implement fund balance ownership. The UVAFinance budget team will be offering information sessions with units, as well as office hours to make this transition easier.
Please reach out to us with questions or concerns at askfinance@virginia.edu
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