Please be aware that the dashboards have not refreshed since last week as a result of an Oracle update released on July 31st. The issue has been raised with Oracle, and any updates will be provided as soon as they are received or once the issue has been resolved. Thank you.

The fund balance roll for FY25 activity to FY26 has been posted in July business in account 4999 and is currently visible in the finance dashboard.

This entry summarizes all FY25 revenue, transfer, and expense accounts for each unique combination of entity, org, fund type, fund source, program, activity, and location. This entry does not include 100.000000, as that carryover process is done by the budget office. This entry also does not include endowment and investment funds – this same process will be done for those at the end of August.

June is now closed. Final FY25 data will be available through the finance dashboard after tonight.

The fund balance roll entry will be posted next week. This is the entry that updates the beginning balance (account 4999) in July FY26 for the activities posted in FY25.

July close is scheduled for August 7th. Monthly office hours will resume in September.

A couple updates in Box:

An updated chart of accounts has been uploaded to Box: https://rice.box.com/s/yh9ztl9tnm13cnutboizcsmhx70ymyz0

An updated LD template was uploaded to Box a few weeks ago: https://rice.box.com/s/b11soi7n3c3uafrknxqv6tzn1fjwkyyl

We want to make you aware of a temporary issue affecting the display of gross pay amounts in iO.

Due to a system processing matter, the Gross Pay amount for June will temporarily appear as double the actual amount until the period is officially closed. Please note that Pay Actuals will be correct, and no action is needed on your part.

If you are reviewing labor costs and using Gross Pay as a reference point, we strongly recommend filtering by fiscal period “JUN-25” to ensure accuracy during this time.

We appreciate your understanding and will send a follow-up message once the period has been closed and the display issue is resolved.

The Controller’s Office is excited to share a new iO function that is a small change with a big impact. Beginning July 1, when transacting in iO, users will receive an error message when an incorrect fund type and fund source combination is used. The following message will appear in the system:

Though this error message will ultimately help and prevent errors moving forward, the message does not communicate a clear description of how to correct the error.

Here is what you can do if you receive this error message:

• An error will occur when:
  – Fund type 100 (unrestricted general operating) is used with a fund source other than 000000 (general operating)
  – Fund type 103 (unrestricted auxiliary) is used with a fund source other than 030000 (auxiliary) or 015000 (equipment replacement)
• Check your chart string, focusing on the fund type and fund source, and update based on which segment correctly defines the expense/transaction

Please be mindful of the error message and the solutions. More supporting materials, such as Online Guided Learning (OGL) tips, will be implemented to further assist your transacting experience. Additionally, more incorrect combinations will be added to the errors list in the near future.

Thank you for your attention to this matter. If you have any questions regarding this, please email generalaccounting@rice.edu or FIS@rice.edu.

Bradley W. Fralic

Associate Vice President & University Controller

Rice University

Controller’s Office

May is closed, so you may run May reports after 10 p.m. tonight.

Processes and dates remain largely unchanged from FY 2024.

All the detailed information you need is in this memo: Year_End_Close_FY25. Year-end information sessions are scheduled for May 14 and June 11 from 1-2 pm.

https://riceuniversity.zoom.us/j/94367276236?pwd=04R75y14OybEGQYJ4a4pLAxykXyxtl.1
Meeting ID: 943 6727 6236
Passcode: 829436

Here is a quick summary of the information:

• Labor redistributions are due June 13.
• Cash deposits, petty cash vouchers, approved expense reports and purchase orders, and A/P cuttoff dates are June 30.
• Petty cash renewals (if you maintain your own fund) are due June 6.
• Balance transfers for Academic Year Time are due June 30, all other balance transfers are due by July 11.
• The last day for all other finance adjustments is July 16.

We welcome your calls, HR/Finance Help Desk tickets, and emails if you have any additional questions or problems.

April is closed, so you may run April reports after 10 p.m. tonight.

An update is occurring to the Encumbrance calculation on the Finance and SPFF Dashboards. Below are the changes:

• Encumbrance costs will be relieved when actuals are posted. They used to be relieved based on calendar days. The change addresses the issue of payroll costs being posted before the end of the pay period, which caused the remaining balance to be understated as both actuals and encumbrances were posted for the same pay period.
• The new encumbrance calculation now supports automatic calculation of fringe based on the assignment category. This eliminates the need to maintain a fringe line for all assignments. The Labor Distribution Administrator will be required to create a fringe rule only when the fringe costs do not follow the salaries and wages costing.
• The hourly employee pay period amount will now be correct. It was overstated.
• F&A on Tuition remission costs for the MTDC burden schedule projects will stop being calculated.
• The award overview page will stop duplicating projects with encumbrance costs.
• Added the LD comment field to the labor distribution details

These changes are expected to take effect this Friday, May 2nd.

March is closed, so you may run March reports after 10 p.m. tonight.