Fiscal

In this module, participants will gain a deeper understanding of the Financial Management System (FMS) and Fixed Assets.   Because of the large amount of content on this topic, this module is broken down into important features of FMS.

FMS is an acronym for Financial Management System.  It has been used since July 1, 1991. It is the Department of Education’s computerized mainframe accounting system for appropriated programs.

FMS is an acronym for Financial Management System.  The original, "Legacy" FMS was  used from July 1, 1991 to June 30, 2021. It was the Department of Education’s computerized mainframe accounting system for appropriated programs. On July 1, 2021, legacy FMS was replaced by the new Aukahi FMS (AFMS) system, which was developed using Oracle Financials Cloud system. 

AFMS is used by schools, complex area, and state offices to process:

• Cash Receipts and Deposits 

• Purchase Orders

• Payments, which include PO payments, Direct Payments & Revenue Refunds

• Fixed Asset Inventory

AFMS inquiries, online reports, and monthly reports are used to track processing status, transaction details, and account balances.

AFMS receives data daily from Budget System (when Expenditure Plans are interfaced) and from the DAGS Payroll System, when payroll charges for all salaried and hourly employees are loaded twice a month (shortly after each pay date).