A Handout was provided that will be distributed to all FinMIS users later today and all documentation is on the Comptroller website. Mike gave a brief overview of how we arrived at our general ledger. The RCM model reporting effort was the final piece in all of the changes the financial system underwent. It was important to be able to have consistency across financial reporting, budgeting, etc. The testing showed that the reports work, but they are aware of some glitches.
Resources are in place to deal with the transition.
There have been some changes since the December document. There is no longer a University bank in the accounting structure. Deferred maintenance has been redefined as Facilities Renewal. Mike described the two new facilities orgs. He then went through the document and highlighted the various sections.