Summary

The UCF Research Foundation (UCFRF) is pleased to announce the UCFRF Financials project, currently underway and scheduled for implementation on July 6, 2015. The UCFRF management had recognized for some time that their growth was quickly outgrowing the capabilities of its existing accounting system, and began actively searching for a more sophisticated and capable system in mid-2014. The ultimate solution was found very close to home, in the form of UCF’s own Oracle PeopleSoft Financials system. In November, 2014, The UCFRF entered an agreement with the University’s Finance and Accounting to convert the UCFRF’s legacy accounting system into the university’s Oracle PeopleSoft Financials system, called UCF Financials. The change offers UCFRF greatly increased capabilities for managing contracts, grants, and projects, and enhanced financial reporting, by leveraging the strengths of various UCF Financials modules that are already in use by other direct service organizations associated with the university.

Benefits

Single Project Number

Moving from our legacy accounting system into PeopleSoft allows us to eliminate the need for two separate account numbers. By;using PeopleSoft, we are able to implement existing functionality which enables us to capture payroll information directly into the Research Foundation grants and projects. This increases management capabilities for PI's and departmental administrators regarding grants and projects overall expenditures.

Access to Financial Information and Expenditure Detail Online

We are now enabled to deliver life-to-date accurate financial reports, display burn rate reports, and use the online ad-hoc reporting tools available via PARIS and AURORA Reporting Services for all grants and projects. (https://paris.research.ucf.edu/)

Direct Access to Account Balances
By incorporating single project number capability, all labor, tuition, fringe benefits and other direct cost expenditures, and management fee/overhead will be captured and displayed through various reporting pages, such as PARIS. This allows us to display accurate project balances as needed. This also enables PI’s and departmental administrators to manage burn rates, extension requests, etc. on their grants and projects.
Use Of Existing PCards

Currently, PI’s and/or departmental administrators have to juggle two separate corporate credit cards: Research Foundation Visa Business Card and the UCF PCard. The Research Foundation will benefit through their integration into PeopleSoft by tapping into the university’s existing PCard system. This will streamline the process for PI’s and departmental administrators to purchase commodities, pay for services, facilitate travel expenses, and reconcile monthly statements using a single credit card.

Implementation Team and Project Timeline

Research Foundation Financials Team Project Timeline

Key Events, Dates and Schedules

Project Kick-off January 7, 2015
Fit Gaps January 13-30, 2015
User Acceptance Testing June 1-5, 2015
Training June 11-18, 2015

Contacts


Kim Smith
Chief Operating Officer
Phone: (407) 823-3062

kim@ucf.edu

Megan Carrigan
Chief Financial Officer
Phone: 407-823-3541
Megan.carrigan@ucf.edu

Robert Wilson
Lead Counsel for the Research Foundation
Phone: (407) 823-0628
robert.wilson@ucf.edu

Project Administration


Terri Bigham
Associate Director
Phone: (407) 882-1186
terri.bigham@ucf.edu

Amanda Coveney
Assistant Director
Amanda.coveney@ucf.edu

Felecia Sookhoo
Contract Officer II
Phone: (407) 823-1879
Felecia.Sookhoo@ucf.edu

Nita Patel
Contract Specialist IV
Phone: (407) 823-3458
nivedita.patel@ucf.edu

Denisha Pierre
Contract Officer II
Phone: 407-882-0153 denisha.pierre@ucf.edu

Janice McFarlane
Post Award Specialist II
Phone: 407-882-0151 janice.mcfarlane@ucf.edu


Finance & Accounting


Ed Jacobs
Accountant
Phone: (407) 882-1113
Fax: (407) 882-0553
ejacobs@ucf.edu
 

Sara Garrabrant
Accountant III
sara.garrabrant@ucf.edu

Chanda Diperna
Accountant III
Phone:  (407) 822-0031
Chanda.Diperna@ucf.edu

Rose Carpenter
Accountant I
Phone: (407) 882-0097
rosemarie.carpenter@ucf.edu

Kevin Donahue
Accountant I
Kevin.donahue@ucf.edu