1. T OOLS FOR F INANCIAL MANAGEMENT 1 FFIT: Faculty Financial Inquiry Tool CMS: Commitment Management System July 2011

2. Agenda Stanford University Confidential FFIT CMS How the two tools work together How we review PTAs in preparation for FFIT

3. FFIT was designed to answer a simple question Stanford University Confidential How much money do your faculty members have?

4. Before FFIT,  The information needed to manage funds was scattered Expenditure statements Fund statements Fund authorizations Shadow systems  Faculty could not access the information directly It used to be hard to answer this question Stanford University Confidential

5. FFIT is… Convenient – accessible 24/7 Comprehensive – see your faculty Account balances Budgets Expenditures Commitments From any computer, anytime Now you can answer the question more easily Stanford University Confidential

6. log on to https://ffit.stanford.edu (or just type “ffit” into any campus browser) To see the faculty accounts you manage Stanford University Confidential

7. 7 What is CMS?  Oracle Financials hard commitments are the starting point for forecasts in CMS  New & revised data is fed into CMS nightly Planning and forecasting tool that incorporates expenditure, commitment and budget data

8. 8 Reasons to use CMS  Lessens the need to manually enter information into spreadsheets  Perform “what if” analysis  Central data access by multiple users  Contains a variety of reports  Updated commitment and balance information can be viewed in FFIT

9. https://ofweb.stanford.edu (or just type “ofweb” into any campus browser) 9 Demonstration - CMS

10.  Three step review process 1.Thoroughly review all accounts, 2.Review accounts for possible closures 3.Review FFIT as department faculty will see it. 4.Suggest iBudget entries to reflect correct allocation balances FFIT works when the “owner” values are right Stanford University Confidential

11. 1.FFIT 2.CMS 3.Working together Key Takeaways Stanford University Confidential

12. Do you have any questions? Stanford University Confidential

13. FFIT is being used across campus Stanford University Confidential