CAFR GAAP July cash Completed Excel PeopleSoft Comptroller – Conversion August AP agency journal entries – Sept–Litigation workbooks in separate Oct–Medicaid ledger (“Mod Accrual”) for modified accrual basis CAFR Compilation September Mod Accrual nVision, Reports for Comptroller – October ledger Word CAFR, narrative (Higher ed and text for comes in Oct. CAFR 31) Preliminary October CAFR reports Excel, Word Audited reports State Auditor – Auditor Review November and narrative and text CAFR Book December Audited reports Word CAFR Report Comptroller Assembly (complete and text Book book by Dec. 20) Final Auditor December CAFR Report Word Final CAFR State Auditor Review Book Report Book, GFOA Packet Current CAFR Challenges Oklahoma’s current CAFR process and reporting toolset provide many challenges as the State attempts to improve a manual and labor intensive process with an efficient process that leads to a shorter production lead time and drastic reduction in man-hours. Some of these challenges include: Numerous data sources The State’s current process requires the collection, compilation – and organization of data from many sources such as PeopleSoft, GAAP conversion forms, agency’s audited financial statements, budget data, and statistical data; Data rekeyed into disparate collection systems As data is gathered from various sources, – much of the data is rekeyed into various systems such as PeopleSoft, Excel, and Word; and Manual assembly of the CAFR report The assembly of the CAFR report is entirely a – manual process, which requires the difficult task of merging large amounts of narrative text, financial data and statistical data into a single report format. Last minute updates often results in cascading changes throughout the report that require great effort to manually update, introducing increased risk of report errors.
CAFR GAAP Conversion July – cash August – AP Sept–Litigation Oct–Medicaid Completed agency workbooks Excel PeopleSoft journal entries in separate ledger (“Mod Accrual”) for modified accrual basis Comptroller CAFR Compilation September – October (Higher ed comes in Oct. 31) Mod Accrual ledger nVision, Word Reports for CAFR, narrative and text for CAFR Comptroller Preliminary Auditor Review October – November CAFR reports and narrative Excel, Word Audited reports and text State Auditor CAFR Book Assembly December (complete book by Dec. 20) Audited reports and text Word CAFR Report Book Comptroller Final Auditor Review December CAFR Report Book Word Final CAFR Report Book, GFOA Packet State Auditor Current CAFR Challenges Oklahoma’s current CAFR process and reporting toolset provide many challenges as the State attempts to improve a manual and labor intensive process with an efficient process that leads to a shorter production lead time and drastic reduction in man-hours. Some of these challenges include: Numerous data sources – The State’s current process requires the collection, compilation and organization of data from many sources such as PeopleSoft, GAAP conversion forms, agency’s audited financial statements, budget data, and statistical data; Data rekeyed into disparate collection systems – As data is gathered from various sources, much of the data is rekeyed into various systems such as PeopleSoft, Excel, and Word; and Manual assembly of the CAFR report – The assembly of the CAFR report is entirely a manual process, which requires the difficult task of merging large amounts of narrative text, financial data and statistical data into a single report format. Last minute updates often results in cascading changes throughout the report that require great effort to manually update, introducing increased risk of report errors.
Solicitation0900000751AttachmentA.docx