1 / 8

SHARE Special Project DFA STO SHARE Integrated Treasury Solution

SHARE Special Project DFA STO SHARE Integrated Treasury Solution. SHARE: David Holmes SHARE Director. Requesting Agency: Robert Levin Chief Information Officer State Treasurers Office. SHARE Special Project DFA STO SHARE Integrated Treasury Solution.

steve
Download Presentation

SHARE Special Project DFA STO SHARE Integrated Treasury Solution

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. SHARE Special ProjectDFA STO SHARE Integrated Treasury Solution SHARE: David Holmes SHARE Director Requesting Agency: Robert Levin Chief Information Officer State Treasurers Office

  2. SHARE Special ProjectDFA STO SHARE Integrated Treasury Solution The DoIT SHARE Asset Management project is requesting certification for the Initiation Phase Project Justification: Proactive and timely management of the State’s finances is essential. Cash on hand, projections, Book-to-Bank, reconciliation, forecasting and prudent investment of assets, while monitoring of the return on investment, are integrated functions that cross agency boundaries. Timely reporting, trending and analysis are critical to planning for the State. The primary functions of the two Divisions at STO are managing cash and managing investments. The processes of these divisions are intertwined and linked to processes that are located in DFA. While the processes are linked, the current state of the Information Technology Systems used for tracking and accounting require “manual interventions” to book entries into the SHARE General Ledger which is located in SHARE. Therefore, it is an imperative to deploy an integrated system to address State reporting, cash management and investment management.

  3. SHARE Special ProjectDFA STO SHARE Integrated Treasury Solution Project Justification: The State Treasurer’s Office (STO) conducted strategic planning for the replacement or augmentation of the current Investments Accounting System • The current QED system is disparate and separate from SHARE • Investigation of the SHARE system and process deficiencies were noted and a bigger picture emerged involved our Investments Division and STO Cash Management Division and the relationship to DFA and DoIT • Several reports and memos were published regarding the Cash Accounting Controls (LFC, 2012) and the Current State Diagnostic of Cash Control (Deloitte, 2012). The documents point to the evolving relationship between DFA, STO and DoIT, and the need for an alignment of business and accounting practices and the use of an integrated book of record

  4. SHARE Special ProjectDFA STO SHARE Integrated Treasury Solution Project Justification: • DFA and STO completed a project in FY 2013 to remediate the initial implementation of the SHARE Treasury modules. This project resolved many of the issues that prevented reconciliation of cash in the State’s bank accounts with the balances in SHARE • Implementation of the Treasury Management modules in SHARE will provide a holistic solution to cash and investment accounting which will further the benefit of a preventative and enterprise solution that leverages the existing investment by the State of New Mexico • The implementation of the integrated Treasury Management System shifts much of the support burden to our partner DoIT while allowing STO and DFA to concentrate on business/accounting practices and process in direct support of our respective fiscal missions.

  5. SHARE Special ProjectDFA STO SHARE Integrated Treasury Solution Project Objectives: The objective of this deployment for the State is to implement the functionality needed to streamline the processing related to cash management and investment management while improving accuracy, timeliness and data integrity. This implementation will be based on functionality delivered in the PeopleSoft ERP platform whereby no SHARE customizations are planned nor desired. The project objectives for this implementation will focus on: • Elimination of manual processes that are in place to provide investment accounting • Improved cash and investment reporting • Increased timeliness of journal entries for cash, investments and balance sheet activity • Providing knowledge transfer to the State’s functional and technical support teams on configuration and functionality • Training of State personnel

  6. SHARE Special ProjectDFA STO SHARE Integrated Treasury Solution

  7. SHARE Special ProjectDFA STO SHARE Integrated Treasury Solution The following is a high-level organization chart for the project:

  8. SHARE Special ProjectDFA STO SHARE Integrated Treasury Solution Q & A

More Related