ARC performs numerous critical functions. Here are some main componants of our new financial system:
- General Ledger is the financial book of record for the University. All financial activity must be fed to the General Ledger so that it can be tracked and reported
- Commitment Control (also referred to as “Budget Checking” or “KK”) is used to monitor budgets
- Project Costing is used to track and aggregate project-related costs
- ARC Procurement is the primary system for procuring and paying for goods and services
- Reporting - ARC receives feeds from the other financial systems (big and small) so that it can be the one combined source of financial information across the University
This image shows all of the major feeds of information into ARC to capture the University's business and financial activities.