Financials Modernization Project Timeline

Sept. 7, 2021

This message was sent to members of CABO, RUBO, and UFO

Vendor selection phase underway
The Financials Modernization project is now in the selection phase and has issued a Request for Proposal (RFP) with responses from vendors due September 20, 2021. This will position the University to deliver a modern financial solution earlier than anticipated. The RFP evaluation team includes members from campus units, Financial Services, the Office of Budget and Planning, and University Information Technology Services.

The new go-live target date is July 1, 2023 for the beginning of FY24, depending on timely contract negotiations and implementation kick-off. The target go-live date is aligned with the start of the fiscal year to prevent using two systems for reporting and year-end auditing .

What this means for you and your unit
Selection phase means time for additional engagement. Our project teams are continuing to engage campus subject matter experts and module leads to document current state business processes and develop requirements and scope around financial data conversion into a new system.

Steps to take now:

  • Review the Chart of Accounts Fundamentals Tutorial now available in Edge Learning.  A new Chart of Accounts will be developed to better suit the University’s reporting needs and make business transactions faster, easier, and more transparent for you and your teams.
  • Be on the lookout for a current use - chart of accounts survey planned for release to campus primary liaisons the week of September 6, 2021. Please work with your liaison to fill this out promptly. Follow up meetings to discuss the survey results will be scheduled with primary liaisons in October between October 4 – 15, 2021.

Learn more
Current information about the Financials Modernization project is available at finmod.arizona.edu and by contacting the primary liaison in your area.  You can also contact the project team at financialsmodernization@email.arizona.edu.