FMS Overview
What is FMS?
FMS successfully integrates supply chain, finance, and budgeting functions. It adds value to overall business operations by providing accurate, timely, comprehensive, and accessible information; and by supporting data driven decision making and accountability. FMS also streamlines business processes and provides flexibility, adaptability, and reliability.
What is new for FMS phase 2?
For phase 2, the FMS project team is adding modules with new features so that current and retired employees from Montgomery County Public Schools (MCPS), the community, customers, and vendors will be able to conduct business with MCPS online. The modules and the transactions that will be able to be conducted online include the following:
iExpense - MCPS employees will be able to submit local mileage and overnight travel expenses for reimbursement. For more information about iExpense, refer to the iExpense Frequently Asked Questions and to the article in the Bulletin.
iStore - Parents will be able to pay a student's extracurricular activity fee with a credit card, and external MCPS warehouse customers will be able to purchase warehouse supplies.
iSupplier - MCPS vendors will be able to maintain their account information, view and process purchase orders, and create invoices.
Sourcing - MCPS vendors will be able to interact with Procurement to respond to requests for information and requests for quotes.
iReceivables - MCPS customers will be able to view and pay their invoices with credit cards.
School activity funds (IAF) pilot - Nine schools (three elementary schools, three middle schools, and three high schools) will pilot the use of FMS to manage their independent activity funds (IAFs).
What is the history of the FMS project?
In May 2007, Montgomery County Public Schools (MCPS) began implementing a new financial management system, FMS, which is an integrated, web-enabled solution for tracking and managing MCPS financial business functions within one centralized system. FMS automates many previously paper-based processes and supports efficient operation of schools and offices through improved access to information consistent with the MCPS strategic plan.
The previous financial system—which was approaching the end of its useful life—was used for general ledger, capital project and grant accounting, and accounts payable and receivable. The materials management, procurement, and budget systems were not integrated into that system. This limitation resulted in extensive duplication and reconciliation of records.
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Updated April 4, 2008 | Maintained by Webmaster
