FMS Overview
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.
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.
Business Functions
FMS comprises the following business functions:
Features
Features in FMS allow current and retired employees from MCPS, the community, customers, and vendors to conduct business with MCPS online.
Current FMS modules and transactions that can be conducted online:
- iExpense - MCPS employees can submit local mileage and overnight travel expenses for reimbursement. For more information about iExpense, refer to the iExpense Frequently Asked Questions.
- iStore - Parents can pay a student's extracurricular activity fee with a credit card, and external MCPS warehouse customers can purchase warehouse supplies.
- iSupplier - MCPS vendors can maintain their account information, view and process purchase orders, and create invoices.
- iReceivables - MCPS customers will be able to view and pay their invoices with credit cards.
Future FMS modules and online transactions:
- Sourcing - MCPS vendors will be able to interact with Procurement to respond to requests for information and requests for quotes.
Updated May 26, 2011 | Maintained by Webmaster
