Finance Mainframe Modernization

Modernizing the financial management capabilities currently supported by its mainframe and related ancillary systems.
- Financial operations must support complex funding structures, multiple reporting requirements, program-level financial management, trust fund administration, and time distribution processes used to allocate costs across programs and funding sources.
- A new system or systems to perform its key financial functions, listed below:
1) Accounting: Accomplishing general ledger activities such as encumbering funds, tracking expenditures, managing cash, and validating payroll data
2) Budgeting: Establishing and maintaining planned obligations by expense category and funding source, maintaining obligation authority, and producing program-level financial and staffing reports
3) Cost Accounting: Proportionally assigning indirect costs to funding sources and collecting and categorizing labor and non-labor costs
4) Time Tracking and Distribution: Converting employee time charges into allocation percentages and distributing across programs and funding sources
5) Grant Management: Tracking funding by federal source and managing compliance, subrecipient payments, and reporting.