Predicted to enable several functions, including calcium ion binding activity; calcium-dependent protein serine/threonine phosphatase regulator activity; and calmodulin binding activity. Involved in meiotic cell cycle; sarcomere organization; and sleep. Predicted to be located in synaptic vesicle. Predicted to be part of calcineurin complex. Is expressed in several structures, including adult brain; adult optic lobe; embryonic/larval midgut primordium; gut section; and larval muscle system. Human ortholog(s) of this gene implicated in Alzheimer's disease and dilated cardiomyopathy. Orthologous to several human genes including PPP3R1 (protein phosphatase 3 regulatory subunit B, alpha).