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SHARE Special Project Cash Management Remediation

SHARE Special Project Cash Management Remediation. SHARE: David Holmes SHARE Systems Manager. Requesting Agency: Ricky Bejarano State Controller DFA Financial Control Division. SHARE Special Project Cash Management Remediation.

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SHARE Special Project Cash Management Remediation

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  1. SHARE Special ProjectCash Management Remediation SHARE: David Holmes SHARE Systems Manager Requesting Agency: Ricky Bejarano State Controller DFA Financial Control Division

  2. SHARE Special ProjectCash Management Remediation The SSP Cash Management Remediation is requesting certification for the Phase II Implementation Project Justification: Statewide cash balances haven’t been fully reconciled since the inception of SHARE in July of 2006 • Monthly reconciliation of general ledger cash accounts to bank activity is required by Section 6-5-2.1.J NMSA 1978 Full, accurate and timely statewide cash reconciliation is essential to all State agencies. Without it: • Fraud, corruption and theft may go undetected • Bank overdrafts may occur • General Ledger cash balances are unreliable

  3. SHARE Special ProjectCash Management Remediation Project Objectives: • Improve financial data processing functionality and system integration • Reduce reliance on manual processes and system customizations • Implement Treasury functionality not currently deployed in SHARE • Preparation for the planned SHARE Financials upgrade

  4. SHARE Special ProjectCash Management Remediation Key Updates: • Emergency Loan approved by State Board of Finance September 18, 2012 • Loan proceeds will fund Phase II of the project • Cash Management Plan and Business Processes (Phase 0) deliverable published October 12, 2012 • Available on DFA’s website at: http://www.nmdfa.state.nm.us/Cash_Control.aspx • DoIT Contract with Deloitte Consulting, LLP executed October 23, 2012 • Phase I scheduled to be completed November 30, 2012 • Planned Implementation date is February 1, 2013 • Phase II scheduled to be completed March 15, 2013

  5. SHARE Special ProjectCash Management Remediation Changes Requested for Certification: • Expand scope to include Implementation activities • Increase project budget to fund Phase II (Build, Test, Deploy/Deliver, and Operate/Support) • Revise project schedule due to contracting delays

  6. SHARE Special ProjectCash Management Remediation Updated Timeline for Cash Management Remediation project:

  7. SHARE Special ProjectCash Management Remediation

  8. SHARE Special ProjectCash Management Remediation Q & A

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