2 Agenda History of Reporting in Georgia Hyperion Financial Management (HFM)OverviewBenefitsProject HighlightsOverview of HFMHyperion DimensionsData LoadsRulesFinancial ReportingSample ReportsQ&A
3 History of ReportingGeorgia produces 5 main financial reports annuallyComprehensive Annual Financial Report (CAFR)Budgetary Compliance Report (BCR)Selected Summary Financial Information (Treasury Operations)Single Audit Report (SAR*)Section 1512 Reporting (produced quarterly) (ARRA*)For FY2010 & FY2011 reporting Hyperion was used for the CAFR, BCR and Treasury Operations. SAR and ARRA have not been migrated to Hyperion.
4 History of Reporting 50 organizations are reported in the BCR Approximately 350 trial balances (comprised of ~130 organizations) are reported in the CAFR~ 45 of the organizations reported in the CAFR are on a common ledger system (PeopleSoft).PeopleSoft primarily maintains ledgers on a statutory (budget) basis and is converted to GAAP reporting is collected through year-end forms.SAO utilizes the data on the year-end forms and other sources to post conversion entries in HFM.Data is also gathered from CPA audited financial statements for some organizations included in the CAFR.
5 Challenges with Legacy System TimeCAFR and BCR were not consistently being issued by required 12/31 deadlineCostCreate separate import files for each organizationManually map each line of T/B to the applicable reporting lineConsolidation of various reporting levels could take hours and the system (Caseware) often crashed prior to completion.Manually enter information collected in year-end forms to consolidate and prepare the notesManually close out revenue/expenseQualityDifficult to analyze data across funds (i.e., cash for a single entity)
6 Solution: Hyperion Web based application State Owned and Operated Accessible by users in multiple locationsState Owned and OperatedSAO owns both the results and the systemMinimal to no IT support requiredPackaged ApplicationOut-of-the-box financial intelligence – minimal ongoing consultingDrill-back capabilityAllows for drill-back to source system dataMicrosoft Office Add-In (SmartView)Allows users to retrieve data from and submit data to Excel
8 Benefits of HFM Reduce cycle time Automate data load for agencies using statewide accounting system (PeopleSoft) with the use of FDMAutomate journal entries, where possibleAbility to post journal entries across multiple agenciesAllocation of investment pool holdingsRemove encumbrances in conversion from Budget Fund to General FundLease and capital asset / accumulated depreciation entriesData forms and Excel SmartView spreadsheet upload tools allow for input of additional dataTrial balance for non-PeopleSoft users loaded via SmartViewSupplemental data used for the NTFS (i.e., Capital Asset changes and debt service to maturity details)
9 Benefits of HFM Improve Quality Flexibility Standardized mapping for common G/L users and ability to load data in a single upload fileReduced load time provides additional time to analyze dataData can be reviewed across organizations and fund types from a single systemAbility to more efficiently analyze year over year trends and provide support for MD&A analysisFlexibilityEasy to create and modify excel files to retrieve data from HFM using SmartViewNo limit to the number of Excel SmartView files
10 Project Highlights Entire timeline took less than 6 months to complete Used a consulting firm to assist with application setupSmartView functionality made it easy to convert write-up files from prior system to Hyperion linksCreated rules in HFM thereby reducing the number of AJEs requiredCreated supplemental data accounts to track dates received and applicability status of year-end formsUtilized an Excel JE template to upload journals to HFM (maximum of 5K lines long)
11 Reporting Examples of Reports in FASTR/SmartView Trial BalanceBCR and CAFR StatementsJournal Entry ReportHyperion Financial Reporting Studio report template will be created to support report production
14 Test Case Day before CAFR is to be released What do I need to do? Material Error to Beginning Capital Asset amount for Discretely Presented Component UnitWhat do I need to do?Enter AJEEnter Supplemental DataConsolidate DataClick “Refresh” with Smartview files and statements, NTFS, MD&A, check files, and analyticsDone!All changes are done
17 HFM Dimensions Dimension Description Scenario Represents a set of related data, such as Original Budget, Amended Budget or Actual.YearRepresents the fiscal or calendar year for the data (i.e., 2010 or 2011)PeriodRepresents time periods, such as year, quarters, and months.ViewPeriodic, year-to-date, and quarter-to-date. – State of Georgia is only YTDIntercompany PartnerUsed to track reporting organization information for Due to/from, Revenue Collections, Allotments Receivable/Payable and Transfers In/OutValueEC ECA = ECTPer Books + J/Es = ReportedEntityBusiness Unit and Fund, i.e _10100, 47400_10200AccountHierarchy of accounts created for Budget Funds, Governmental Funds, Business Type Activities, Fiduciary, and Component UnitsCustom 1Budget Reference, Stat-to-GAAP AdjustmentsCustom 2Funding Sources: State, Federal, ARRA, OtherCustom 3Programs: All programs in State Appropriations ActsCustom 4Agency fund Addition/Deletions, as well as changes in balances (i.e., Capital Assets or Long-term liabilities)
19 Loading Data - Excel T/B shell from agency: Load Tab in T/B shell file:
20 RulesRules are used to automate calculations of data within an applicationRules are also used to set and clear values, consolidate data, and control data inputAgency fundRevenue/Expense closeoutBalancing