Cornerstone Financial Management Project Overview

Benefits of the New Financial Management System Provides University with integrated system and data for all schools and units Automates certain business process steps, to drive greater operational efficiency and organizational effectiveness Offers standardized reports, along with robust data governance to enable real-time, business intelligence and reporting Accurately captures receivables activity and financial results Tracks grants and funded projects from inception to final reporting Provides key metrics, including budget, actuals, forecast and variances for instant snapshot of project performance 2

Our New Chart of Accounts Enables business operations to be more effective and responsive Provides an integrated, comprehensive, yet streamlined, financial management and reporting infrastructure for the entire University Ensures consistency in process and quality of results through a standardized monthly financial close and reporting process Enables robust analytics capabilities, providing a framework for more strategic decision-making and improved reporting functionality Supports business needs related to the general ledger, projects, grants, cash management and accounts receivable 3

4 UnitDivisionOrganizationLocation Fund Type Business Line AccountActivityIntra-UnitFuture x x xx x x x xx x x x x x xx x x x xx x x x x (3) (4) (3) (4) (5) (4) (3) (5) Chart of Accounts Structure

Chart of Accounts Segment Definitions SegmentDigitsDefinition Unit 3School, institution, center and/or central unit required to produce a balanced balance sheet. At the highest level of reporting, parent values will be New Brunswick, Newark, Camden, RBHS and Central. Division 4Used to group organizations into alternate hierarchies. Organization 4A business area with dedicated people and space. Location 4Area for which a service is being provided. It identifies where the revenue and/or costs are incurred, including on-site, off-site, online and foreign locations. This may or may not be a physical geographic location of people providing a service. Fund Type 3Funding source used to acquire goods and services – unrestricted, restricted, endowment, plant, loan, auxiliary. Business Line 4Specific line of business, or University mission, provided. At the highest level of reporting, parent values will be the University’s four missions – instruction, research, health care and public service – or an “Other” category. Account 5Nature of the transaction, such as expense or revenue (also referred to as “natural account”). Activity 4Total activity of high-level, interdisciplinary and strategic initiatives that span across multiple responsibility centers or units. Intra-Unit 3System-generated transaction to balance journals for financial transactions between a unit and/or fund type. Future 5Placeholder for an additional segment, if needed, in the future. 5

Financial Management Modules MODULEDESCRIPTION Grants The grants module is a way to track grants and funded projects from inception to final reporting, with ability to create a control budget automatically. Projects The projects module is a way trace cost-related activities at a detailed level for gifts, endowment operating, capital projects, loans, discretionary, designated and internally sponsored research accounts Cash Management The cash management module will maintain all bank account information to conduct automated and manual bank reconciliations. Accounts Receivable The accounts receivable module fully integrates grants and federal appropriations to maintain and manage sponsor information, to recognize receipt of funds, and to perform account transactions to the general ledger 6

Financial Management: Transaction Flow SciQuest Procurement Data Oracle Cloud Fusion Journal Entries Cloud Subledgers Source Systems Manual Project Detail Bank Statements Grants Time & Labor PeopleSoft HR and Payroll Employees Commitment Acctg/Payroll Time & Labor Benefits Data Warehouse General Ledger Balances Project Detail Payroll Detail Reporting Internal Source Systems Journal Entries Project Detail Transaction Types Grants RAPPS Pre-awards