Foundation Data Model


Courses & Resources:

Foundation Data Model (FDM) Overview

What is Foundation Data Model (FDM)?

FDM is the framework to support financial reporting in Workday and replaces the Banner Chart of Accounts (Fund.Org.Account.Program - FOAP). It is a multi-dimensional structure providing flexibility by utilizing Worktag (attribute) combinations. FDM provides real-time, standardized reports across the university. Users can tag transactions based on dimensions relevant to their business. FDM will allow visibility into transactions and the ability to identify approvers of transactions. Financial and non-financial data can be filtered and analyzed easily with FDM.

What are Worktags?

Each Banner FOAP is broken down into separate Workday fields called Worktags. Worktags allow for flexible reporting and inquiry, identifying the various dimensions of the university’s business, and forming the building blocks of the new chart of accounts in Workday.

Benefits of FDM for Financials

Benefits include minimized data entry, enhanced drill-down capabilities, automated reporting, and data transparency.

What is Changing for GVSU?

Workday will be the single source of financial information for the entire university and will help to minimize the number of manual transactions. These changes provide a balance between three key system functions – reporting, security, and business transactions. This results in “cleaner data”, meaning increased transparency and accuracy, and greater data integrity and compliance.

Questions that FDM Answers

FDM provides the ability to meet core accounting reporting needs and add additional information to support management reporting needs for each transaction. This results in the ability to answer questions such as  Who is responsible for the transaction? How is the transaction funded?

Foundation Data Model Elements

FDM is a framework to support all financial reporting across GVSU. Here are some definitions of elements used in FDM. Historically Fund.Org.Account.Program (FOAP) was used.

Cost Center Worktags

Cost Centers Worktags represent the lowest level of significant financial oversight or accountability and equate to a Banner organization code. They identify a department or unit to which costs are charged. Each employee is placed in a cost center, including their associated payroll costs and operating expenses. Every cost center is part of a hierarchy that rolls up to higher levels of oversight. General Fund budgets will be created and managed at the cost center level, much like they are today.

Spend Category Worktags

Spend categories will be selected by users to identify the type of purchase or other expense-related activity. Examples include supplies, travel, contracts, etc.

Revenue Category Worktags

Revenue categories will be selected by users to identify the type of revenue. Examples include registration fees, donations, consulting fees, and other types of miscellaneous revenue.

Grants Worktags

Grants track sponsored activity awarded by an external party (e.g., federal, state, private foundation) and have distinct beginning and ending dates.

Project Worktags

Project Worktags track capital expenditures associated with a specific Facilities-managed project. This includes revenue and expenditures for work activities that occur within and across cost centers. Projects have distinct beginning and ending dates.

Designation Worktags

The Designation Worktag is used to account for other departmental activities such as contractual activity, indirect cost recovery, auxiliary activity, departmental reserves, agency-related activity, etc. Ending balances will be accumulated and carried forward to future years.

Activity Worktag

The Activity Worktag is used to further disaggregate designations/cost centers. They identify ongoing functional activities at the level of detail required in order to answer questions and provide reports to Deans, Department Heads, Chairs, and Directors. Examples include recruiting (staff & students), special events, and annual events.

Gift Worktag

The Gift Worktag is used to record donations received (including endowed gifts or other donations) and endowed spending activity.

Page last modified January 12, 2024