To: MOU Leads
University Business Managers
Finance Council Members
From: Henry Price, Assoc. Director, Budget Office
Date: October 19, 2015
Finance and Accounting was notified Tuesday of a problem with the Automatic Budget Create (ABC) allocation – the nightly process that creates expense budget journals for associated trust funds, based on recognized revenue. For several days the budget journals generated, but didn’t post. This caused the budget journals to have duplicate entries, which inaccurately inflated expense budgets.
The problem with the allocation is resolved, and a process is now in place to ensure our business analysts are notified if the posting process fails. The duplicate budget journals were unposted yesterday. The ABC allocation resumed last night. You can see the corrections now in ConnectCarolina and InfoPorte.
For your information, please see a document containing screenshots that illustrates the problem and the correction.
If you have any questions, please contact Henry Price at hlprice@email.unc.edu, Yahui Chao at chaoy@email.unc.edu. Thank you.