Re: Accounting capabilities using Oracle FMS or other grant accounting systems Key, Diana 22 Jun 2006 10:45 EST
Florida State University implemented PeopleSoft Financials 8.4 (now Oracle PeopleSoft) in July 2004. This system has the capability to stop expenditures are whatever level we choose: total award amt, direct and indirect, high level categories, detail categories, etc. We currently stop overexpenditure at the total award (budget) amount, but on 7/1/06 we are moving to controlling by direct and indirect. However, we do have business procedures in place that allow payroll to post without checking budget availability. Diana Diana L. Key :) Assistant Director Sponsored Research Services Florida State University 98 South Woodward Avenue Tallahassee, FL 32306-4166 P: 850-644-8648 F: 850-644-1464 ________________________________ From: Research Administration List on behalf of Thea Arocho Sent: Thu 6/22/2006 9:17 AM To: xxxxxx@hrinet.org Subject: Re: [RESADM-L] Accounting capabilities using Oracle FMS or other grant accounting systems Colleagues, I am looking for some feedback regarding the use of the Oracle Financial Management System - and the statement one of our accountants made regarding the system's capability. We authorize pre-spending accounts for use until award docs are received on projects that have time sensitive equipment or travel issues. However, when these accounts are established, we limit spending to an authorized amount which the guarantor (Dean or Chair) has approved. In reviewing some of these transactions, we noted overspending beyond the guaranteed amounts. We followed up and were told by the accounting department that it is impossible to prevent overspending on the accounts (or any grant account for that matter) because "no accounting package nationwide has the capability to monitor and prevent an overspent situation". Being the logic geek that I am, I have a hard time accepting this response. Can some of you out there with Oracle fms experience (or other systems used for grant accounting) offer some confirming comments or (preferably) affirming counters to this capability statement? Best, Thea R. Arocho, CRA Senior Grants and Contracts Manager Ohio University Office of Research and Sponsored Programs 105 RTEC Athens, Ohio 45701 (740) 593-2856 (Tel) (740) 593-0379 (Fax) ====================================================================== Instructions on how to use the RESADM-L Mailing List, including subscription information and a web-searchable archive, are available via our web site at http://www.hrinet.org (click on "Listserv Lists") ====================================================================== ====================================================================== Instructions on how to use the RESADM-L Mailing List, including subscription information and a web-searchable archive, are available via our web site at http://www.hrinet.org (click on "Listserv Lists") ======================================================================