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| Updates for Fund Hierarchies |
- Fund Level Hierarchy
- UFM Fund Source Hierarchy
What is a fund hierarchy?
If the term fund hierarchy is new to you, it is simply a way of grouping funds together for reporting purposes.
These upcoming adjustments will help streamline reporting for required state submissions, provide greater clarity in internal reporting, and support leadership with more transparent data for decision-making across the University.
For most users, these changes will not affect day-to-day operations, as the impacted fund hierarchies are not widely used across Grounds. However, if your unit currently uses either of these hierarchies for reporting, please review the changes below to determine whether they may affect your reports.
What is changing?
Fund Level Hierarchy
Current Fund Level Hierarchy values will be renamed to better support reporting needs. If your unit currently uses this hierarchy for reporting, please be aware that some filterable values may change.
UFM Fund Source Hierarchy
This hierarchy will be deactivated because it is no longer in use. If your unit is still using the UFM Fund Source Hierarchy, please notify UVAFinance as soon as possible so we can help you transition to an appropriate hierarchy for your reporting needs.
What is not changing?
The following fund hierarchies will remain unchanged:
- Fund Sponsored Programs
- State Fund Hierarchy
- Expendable Level
What's Next?
More detailed information will be shared closer to July 31, along with additional reminders before the updates are implemented.
If you have any questions or concerns, please contact AskFinance@virginia.edu for assistance.
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