Common Chart of Accounts
In 2013, the campus controllers of the University of California jointly made the decision to move to a new systemwide Common Chart of Accounts (CCOA). After many years of planning, financial data reported to UCOP from all UC campuses became compliant with CCOA standards on July 1, 2023.
The CCOA was designed to create consistency across the University of California while allowing campuses to maintain local charts of accounts within the established framework. It has been designed to enhance reporting, budgeting, and financial management and to reduce extensive and expensive data reconciliations UCOP prepares across UC locations.
It organizes this financial activity by a series of segments that, put together, are meaningful for appropriately categorizing revenue and expenses. The combination of these segments is called a chartstring. When designed thoughtfully and used consistently, the chartstrings inform us of where money comes from and where it goes, enabling reporting and analysis at all levels across campus (and the UC system, thanks to the “common” elements of the new chart.)
The UCI chart of accounts maps to the UC Common Chart of Accounts. It is important to understand how KFS account attributes align with the CCOA because it impacts how we report our financial data and allows us to identify where the money comes from and where it goes, enabling reporting and analysis across campus. Because the CoA is "common" across the UC system, reporting and analysis are possible at a systemwide level.