Agenda

1. Real-Time FinancialsFinancial Unit Liaisons4/18/2007Thom Madden – thommad@umich.eduLisa Harris – llharris@umich.eduTodd Ayotte – ayotte@umich.edu

2. Agenda • Project Charge • Project Goals • RTF and Related Project Accomplishments • Real-Time Financials – Phase I (4/7/07) • Data Warehouse Overview – Todd Ayotte • Real-Time Financials – Phase I (5/28/07) • Unit Defined Commitments – Lisa Harris • Department Options • Real-Time Financials – Phase II • Questions

3. Real-Time Financials Project Charge The Real-Time Financials (RTF) team was charged by the Associate Vice Presidents for Finance, Research and MAIS with two primary goals: • Identify ways to better integrate the central accounting system with local supplemental systems in order to reduce redundant efforts • Make financial information more accessible to project directors

4. Project Goals • Provide estimate information for Payroll, Benefits, and Financial Aid in the central systems and the U-M Data Warehouse • Provide supporting corporate documents in the U-M Data Warehouse to assist with: • Data validation • Decision making • The reconciliation process • Enhance the Project Budget Summary Report (PBSR) to include estimate information • Provide data needed for Web Reporting and Project Investigator Portal initiatives

5. Real-Time Financials Advisory team • Nathan Eriksen, School of Information • Krista Farmer, Physics • Shane Fortune, Ross School of Business • Dean Girbach, School of Public Health • Jeanni Goormastic, Nuclear Med/Radiology • Bonnijean Viets, MS&E, College of Engineering • Cyndi Beaudry, Chemistry • Hana Malhas, Institute for Human Adjustment • Maggie Herron, Life Sciences Institute • Margie Lesser, Engineering • Christina Luo, Law School • Mary Martinowicz, School of Natural Resources • Pam Schwarzmann, LS&A Dean’s Office • Scott Stanfill, Biophysics Research • Candace Terhune, Social Work • Bryan Van Sickle, Financial Operations

6. RTF and Related Project Accomplishments Accomplishments as of 11/30/06 (last presentation to ULs): • M-marketsite Integration with eProcurement • Unit Defined Commitment (UDC) refreshed hourly to the U-M Data Warehouse • Enhanced Service Unit Billing (SUB) functionality • The implementation of the online Cash Receipt Ticket

7. RTF and Related Project Accomplishments Accomplishments 12/01/06 – 4/18/07: • Estimate information for Benefits and Financial Aid migrated to the U-M Data Warehouse • Six supporting BusinessObjects corporate docs migrated to support the estimate information • PO reconciliation processing implemented in PS 8.8 (on-going: scheduled weekly) • Enhanced batch and online PBSR created and ready for move to production at the end of May • Cart assignment functionality in M-marketsite (go-live 4/23)

8. Real-Time Financials – Phase I (4/7/07) Migration of estimate information to the appropriate HE and FIN Data Warehouse data sets and BusinessObjects universes: • Payroll, Benefit, and Financial Aid estimate detail was made available in the appropriate data sets (PY01, SA04) • Summary estimate information for Payroll, Benefit, and Financial Aid estimates was made available in the Financial data set (FN01) • Financial Aid (SA04) and Summary GL (FN01) estimate information will be refreshed weekly • Payroll and Benefit estimate data will be incrementally refreshed daily. Changes made to employee appointments will be available in the U-M Data Warehouse the next day • The U-M Data Warehouse includes one prior fiscal year, the current fiscal year, and one future fiscal year of estimate data

9. Real-Time Financials – Phase I (4/7/07) Migration of Business Objects reports: Along with the migration of the estimate data, six BusinessObjects reports (corporate documents) were also be migrated to support the estimate summary and detail information: • FN01 RevExp Pay, Ben, FA Estimates Summary for Dept or Dept Grp.rep • CMB Summary of Projects by Project Director with Estimates [FN01 FN05 HR01].rep  • CMB Project Grant Budget Status with Estimates [FN01 FN05 FN06 PY01 SA04].rep • SA04 StuFin Student Financial Aid Estimate Detail - by Project Grant.rep • PY01 Pay Payroll Estimates for Dept or Dept Grp.rep • PY01 Pay Payroll Estimates by Employee and Fiscal Year.rep

10. Data Warehouse Overview Todd Ayotte

11. Real-Time Financials – Phase I (4/7/07) Change Management • FIN Performance Support, working with the MAIS Communications team, sent an e-mail communication to those on campus with access to the impacted U-M Data Warehouse data sets (4/9/07). • The PSA team created a Web site for the Real-Time Financials project which outlines: • Phase I Roll out • Estimate descriptions and details • BusinessObjects and M-Pathways report enhancements • Learning opportunities – Data Warehouse Production Support Labs • Overview of Phase II deliverables http://www.mais.umich.edu/fin/rtf.html

12. Real-Time Financials – Phase I (5/28/07) Migration of enhanced online and batch PBSR The week of 5/28/07, the enhanced batch and online PBSR will be migrated to production. The batch PBSR will be delivered with the May month-end reporting package. The changes to the PBSR include: • Addition of a Pay/Ben/FA Estimates column, which posts summary estimate information, by budget account, for payroll, benefit, and financial aid information • The estimate information is calculated to include estimates for the current fiscal year and one future fiscal year, not to exceed the budget period end-date • Date description below the Pay/Ben/FA Estimates column • Renaming of the Adjusted Balance column to Projected Balance • Removal of the Req/PO Encum column

14. Unit Defined Commitments Lisa Harris

15. Real-Time Financials – Phase I (5/28/07) Change Management • Annotated PBSR will be mailed out with May month-end reports package (early June) detailing the changes to the PBSR • For those who suppress printing of month end reports, an e-mail communication will be sent with links to the Web site where the annotated PBSR and other RTF information can be found • North Campus, Central Campus, and Medical Campus Interchanges – Late May • MAIS Financial CPU Business Systems Analyst consulting services

16. Real-Time Financials – Phase I (5/28/07) Currently Planned Presentations • Budget Administrators Group (BAG) – 4/10/07 • Financial Unit Liaisons – 4/18/07 • LSA Research Administrators Network – 4/18/07 • Medical Campus – Date TBD • Research Administrators Network (RAN) – 5/10/04

17. What are your options as a unit? • Evaluate the upcoming enhancements to assess whether they can replace your local administrative solutions and eliminate as many local processes and systems as possible • Continue to operate your local administrative solutions and leverage the enhancements

18. Evaluate the upcoming enhancements to assess whether they can replace your local administrative solutions and eliminate as many local processes and systems as possible • Pros • Eliminate some administrative burden for department • Eliminate duplicate maintenance of data • Eliminate reconciliation to the M-Pathways book of record • Improve internal controls • Get MAIS support in how the unit can transition with the new enhancements • Work with MAIS in identifying any remaining administrative gaps not addressed by the planned enhancements and possible solutions • Cons • Initial transition effort will require additional administrative effort • Can not design unique unit processes since it is a University-wide solution

19. Continue to operate your local administrative solutions • Pros • Processes and systems in place may meet the financial management needs of your unit or project • May eliminate some administrative burden for the department • Cons • Duplicate maintenance of data • Requirement to reconcile to the M-Pathways book of record • Greater internal control risk with duplicate systems • May be highly dependent on existing staff and at risk with any staff turnover for required skills and knowledge • Cost may be significant • Unit responsible for managing the software and updating when M-Pathways is upgraded • Faculty will have access to the web solution which may differ from local reports

20. Real-Time Financials – Phase II • Implement Journal Entry (JE) workflow functionality to allow streamlined routing of JEs for approval. Financial Operations will change their business process to conduct back-end auditing of JEs to expedite posting JE data to the system. • Increase the posting frequency of AP vouchers to the General Ledger. The business case and requirement documents are being reviewed. • Enhance Unit Defined Commitment (UDC) functionality to include the ability to use ShortCodes to post UDC information. The business case and requirement documents are being reviewed. • P-Card Survey and next steps

21. Web Reporting Initiative • Phase I - The Internal Control Reports, currently available in the U-M Data Warehouse, will be delivered to the web, with drill down functionality (go-live, tbd) • Phase II - MAIS is in the process of contracting with a vendor (iStrategy) to provide us with technology that will allow for web enabled "drill down" functionality from a summary reporting format (i.e., PBSR) to the underlying detail • Phase II - Our ultimate vision is that a PI will be able to log onto a Web site and the projects they are responsible for will be displayed in summary financial format with the capability of drilling down to the underlying financial detail

22. Questions