University financial system sees reliable start, little errors, officials say

After the University’s new financial system went online last February, any fears about problems within the software were quickly put to rest after a nearly flawless start.

The system, Financial Management Solutions, allows for faster approval of purchases or reimbursements and other financial needs. The time that it takes for a reimbursement to be filed through the FMS payable system is two weeks, said Terry Gentry, an accounting clerk.

If there is any delay with the system, its not with FMS, but with filing the paper work to get people registered into the system. Anytime someone new needs to use the system or someone is removed, he or she has to fill out a form to be added before they can get any money.

“We get quite a few [forms] a day, it’s not like we only have a handful. I have 30 to 40 right now that need to be filed into the system. It still doesn’t take 30 days though,” Gentry said.

If there are any other delays it’s usually because there is not enough money in someone’s account she said.

But outside of the delays, Maureen Ireland, assistant director of shipping receiving and property, said there have been no complaints about the system.

Sharon Swartz, director of finance reporting and analysis, said since FMS is still new, it has been undergoing constant maintenance and refinements.

“We are still learning better ways to use the system, and better ways to extract data,” she said.

The new system has also allowed for easier use of financial information.

It has been used to create reports of external auditors and state boards who review the University’s financial records to make sure that all the University’s financial resources are being used properly.

“FMS is the backbone of our financial system. It is responsible for all of our financial information,” Swartz said.