Why Redesign

With the implementation of Responsibility Centered Management (RCM), the way Ohio University budgets and reports results against the budget plan have significantly changed. It became apparent that a redesign effort should be considered for the current Chart of Accounts (COA) to better align with the RCM budget model and framework. As a result, the University has engaged Navigator Management Partners to assist in this effort.

Below is a list of the initial project goals defined for the Chart of Accounts Redesign project.

• Implement a more meaningful Chart of Accounts to address the reporting & programmatic needs
  • Responsibility Centered Budgeting
  • Management and financial reporting
• Position the University to develop and implement Grants Accounting
• Increase the reporting capabilities to meet the requirements of the University
• Provide flexibility to categorize and aggregate data across the University
• Enhance fund source identification
• Create hierarchies that allow the ability to "drill down" to the lowest level
• Review and improve categorization of Natural Accounts

Send questions, feedback and input to coa@ohio.edu