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COFI conversion update and lessons learned

Units in Wave 1 and Wave 2 completed conversion to the Common Operating Fund Initiative (COFI) with the conversions reflected in KFS/FIS-DS on Sept. 15 and Oct. 13, respectively. We expect full implementation by Dec. 2021 for the remaining five units.

Budget Analysts in BIA are closely coordinating with units to validate conversion data and prepare remaining units. Lessons learned from Wave 1 better prepared units in Wave 2 for conversion. For example, a recommended pause in entry of any UCPath Direct Retro or Funding Entry transactions during the small conversion window eliminated the need for units to complete any reentry of information. Going forward, moratorium dates will be posted and units converting should not initiate or submit any Funding Entry or Direct Retro transaction in UCPath during that time. However, while Wave 2 units benefited from lessons learned during Wave 1, unforeseen issues occurred, which must be addressed retroactively.

Wave 2 completion: Resolving issues and preparing for Wave 3

Following the conversion of roughly 28,000 accounts in KFS and UCPath, distribution issues were identified, requiring corrective action by impacted units. We recognize that this creates unanticipated workload for the impacted units. Central resources may be available to assist with Direct Retros to the extent possible. Contact your BIA budget analyst or the COFI team for assistance.

Units are urged to take the following actions:
  • Submit Direct Retros for any distributions that posted to the Default account or “ERROR” sub-account as a result of time reported in arrears. This primarily affects payroll for monthly employees who took vacation, sick, holiday, etc. time in the prior month, as well as transactions involving retro pay (i.e. earn codes beginning in “9”). This is a posting issue only; the employee’s paycheck will not be affected.
  • Submit Direct Retros for any distributions that posted to the Default account as a result of identifying the wrong fund on UCPath files, such as the I-618 for one-time payments or I-181 Time and Attendance. These files must be completed with the new COFI fund starting with the Unit’s conversion month. Unfortunately, these files require units to provide both fund and account, so this will be an ongoing issue. If the old (legacy) fund is used with a COFI account, the expense will be charged to the default account and will require a Direct Retro. 

Units preparing for future waves are actively engaging with their respective budget analyst to prepare, and they have the advantage of implementing lessons learned from previous waves.

Wave 3 units urged to take preemptive action

Wave 3, planned for Nov. 10, 2021, will include Student Affairs, Office of Research, School of Medicine, and the Betty Irene Moore School of Nursing. College of Agriculture and Environmental Sciences will follow shortly after.

Based on lessons learned in Wave 2, Wave 3 participants are urged to take steps to prevent similar issues.
  • Approve any Account or Account Global docs in KFS prior to the conversion date for your unit.
  • Approve any Direct Retros or Funding Entry transactions prior to the conversion date for your unit.
  • If requested by your unit’s BIA budget analyst, resolve any identified distribution errors for filled positions. (Distribution errors on unfilled positions should be addressed, but are not time sensitive.)
  • Abide by the established moratorium on UCPath changes during your unit’s conversion wave.

Wave 3 timeline

Nov. 10: COFI related account updates in KFS in the evening.

Nov. 11 (holiday): Account conversion reflected in FIS-DS reports.

Nov. 10-23: Moratorium: Do not initiate/submit Funding Entry or Direct Retro transactions in UCPath during this period.

Simplifying campus accounting and reporting

Conversion to COFI prepares campus to transition to the new Chart of Accounts by prompting review of each unit’s current account structure; where possible units should consider doing an initial clean-up of unused or retired accounts in advance of the new chart’s go-live in July 2023. It should be noted that user requests to revert COFI fund attribute back to the legacy fund will be rejected. By allocating central resources from a single fund, COFI helps to simplify campus accounting and reporting processes; continued instances of legacy funds would not allow campus to maximize benefits of COFI.  

Looking to the Post-conversion, COFI resources will remain available to support stabilization and troubleshooting, including outreach to ensure unit-reporting needs are met. COFI benefits should be realized almost immediately as units find it easier and more efficient to manage expenditures.

Learn more

More information on the COFI Conversion Schedule and COFI Eligible Fund Sources can be found here.

Questions can be addressed on Slack #cofi_talk or by email to cofi@ucdavis.edu.

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