Financial Management System
The Financial Management System (FMS.net) is a software tool used by HIDTA participants to track HIDTA award funds. FMS.net stores the initial award amounts, planned and actual expenditures of HIDTA funds, and other administrative transactions such as reprogramming transactions and extensions of a grant’s end date.
For each transaction, the software records the data, handles the required approvals for each transaction, and reports the status of individual transactions and the cumulative effect on the account balances. FMS.net can summarize and report data by initiative, by award recipient, by participating agency (i.e., resource recipient), and account.
Purpose and Use
Financial managers, directors, and others use FMS.net throughout the program year to manage financial data of multiple HIDTA awards. For example, use FMS.net for:
- Budgets - prepare, submit, monitor, and modify budgets
- Disbursements – record and track expenditures of grant funds, submit for external review, and monitor spending
- Reprogramming funds – record revisions to approved budgets and monitor the requests as they progress through the approval process
- Extensions – monitor grant expiration dates, request extensions as needed, and track the progress of extension requests as they progress through the approval process
- Award documents – create and download grant applications (SF-424) and view signed award documents
Additionally, FMS.net provides numerous reports to keep managers informed about the HIDTA’s financial transactions and balances.