Capital Projects – Correction being made for out-of-balance projects
December 4, 2019
Currently, many capital projects are showing as out of balance (funding does not match spending). On December 5, 2019 the Capital Assets Accounting team will be implementing a temporary fix in Workday’s Multiple Funding Sources process. This temporary fix will put projects back in balance while the accounting team partners with Workday on a permanent solution. In the meantime, there will be increased transaction activity showing for capital projects.
Capital projects are funded in Workday using a process called Multiple Funding Sources (MFS). This process is run on a monthly basis, but it is typical for selected projects to need a “reprocess” during the month for new, unfunded transaction lines to be funded.
When the Reprocess Funding Sources (RFS) task runs, the system reverses existing fundings for other projects, but only performs new funding for the selected projects. This causes two issues:
- (a) previously-funded expenses on many projects are now unfunded and out of balance and
- (b) excess transaction activity is booked in the general ledger. This is a Workday error, and the Capital Assets Accounting team is partnering with Workday for a permanent solution. However, this permanent solution is not expected during FY20.
During this interim period, the Capital Assets Accounting team has an interim solution that will be implemented for the first time on or about December 5, 2019. After the RFS task runs, the team will re-run the original capital project funding process. Expected results are as follows:
- Approximately 95% of capital projects will be back in balance the first time the interim solution is performed.
- The team will continue to work manually on the remaining 5%.
There will continue to be excess transaction activity in the general ledger until the permanent solution is in place. Departmental users of capital projects can remove this “noise” by:
- When pulling detailed transactions, remove all transaction lines where the column for Operational Transaction = “Process Funding Sources” OR
- Use the online guide for Determining Funding and Disbursements on Capital Projects.
For any questions, please contact Capital Asset Accounting in the Controller’s Office at firstname.lastname@example.org.