DepartmentofFinancialServices
MeetingNotes
MeetingDetails
MeetingDate
Wednesday,May20,2015
MeetingTime
9:00amto12:00pm
MeetingLocation
DepartmentofRevenue,Building1,Room1220/1221
MeetingObjective
ReviewandDiscussDraftTRMLevel2FlowsandProcessModels
Invitees
Level2SMEs:
BertWilkerson(Treasury),MelisaHevey(Treasury),MiriamGray
(Treasury),JenniferPelham(Treasury),KathyWard‐Adkins(Treasury),
TeresaBach(Treasury),PedroMorgado(Treasury),BenjaminNash(DEO),
BettyCaswell(DEO),WynetteRogers(DOR),WendyWu(DOR),Gina
Ballard(DFS),AngieMartin(DFS),TanyaMcCarty(DFS),PatriceProvost
(DEO)
FloridaPALMBPSTeam:
DeanaMetcalf,GarySchneider,JordanLandreth,JulianGotreaux,Stanton
Beazley
Attachments/
Related
Documents
TRMLevel2WorkgroupMeeting#2Notes(05‐12‐2015)
RevisedDraftLevel2ProcessFlowandNarrative(05‐19‐2015)V1.2
MeetingTopics
Topic
Presenter
AllottedTime
Welcome
 OverviewofAgenda
 ParticipantIntroductions(ifnewparticipants)
DeanaMetcalf
5min
(9:00am‐9:05am)
RecapofActionItems
GarySchneider
DeeperDiveinLevel2FlowsandNarrativeforTRM–
AgencyFederalBankAccount
Notes:
10.2AgencyFederalBankAccount
 DEOprocessbuttriedtomakeitgenericto
accommodatefuturefederalbankaccountsfor
otheragencies
 DEOinstructstreasuryhowmuchtoleavein
concentrationaccountandthentowire
remainingfundstoFederalBankAccount
 FederallyMandatedDisbursementAccount–
thisisthestate’saccountmandatedbyFEDs
 Threeprocessesforspendingmoneyoutof
federalaccount:
 EFT
DeanaMetcalf
15min
(9:05am‐9:20am)
45min
(9:20am‐10:05am)
Florida Department of Financial Services
Topic
Presenter
AllottedTime
OutofProjectConnect,afileis
transmittedtofederallymandated
disbursementaccounttomakeEFT
receipts(bankmakesthese
payments
o FloridaPALMwillbookAccounting
entriestorecordthetransaction
DebitCards
o Systemwillcreateavouchertopay
vendorwhomanagesdebitcard
program(thiswillskipthevoucher
auditprocessandbedirectloadto
payment)
UCWithholdingTax
o Electronictaxpaymentsystemthat
whereDEOenterstaxdata
o FloridaPALMwillbookAccounting
entriestorecordtheIRSsweeping
moneyoutoftheaccount
AddedvouchertoTRMAE2.7,capturethat
paymentinformationneedstobecaptured
2.12istellingtheIRStogogetmoney
(instructions)
2.7iswhereweactuallyputinFlorida
PALM
Bettydoesanegativetreasuryreceipt‐
(portionofpaymentiswithheldforchild
supportandwithholdingtaxesdeducted)
thistypeofpaymentfollowstypical
payments–youcouldseetwodebitsfrom
IRS(oneoutsidethetypicalP2Psystem
andonewithin)
It’snegativeentrybecauseStateispaying
theNetandneedtoaccountforgross
(grossiscapturedinexternalsystem),(TR
30depositdebittoexpenditure,credit
cash)–thisdecreasesstateaccountcash
o
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Florida Department of Financial Services – Florida PALM TRM Workgroup #3 Page 2 of 6 Florida Department of Financial Services
Topic




Presenter
AllottedTime
Jordan
Landreth
15min
(10:05am–10:20am)
15min
(10:20am‐10:35am)
35min
(10:35am‐11:10am)
Newsystemwillhavebackupwithholding
soshouldbeabletohandlethisinthe
future
Twoentries(withholdingtaxtofeds
(negativeentry)
AddtonarrativeforIP2.12thatthereis
amountenteredinP2Pthatisenteredand
sweptforfeds(manualpaymentforRA
benefitpayment,CSEchildsupport,FEMA
(disasterprograms)thisisdonebymanual
voucherpaymentsandit’seventually
sweptbyIRS
Twodifferentreconciliations:
o Agencymonitorsandrecordsnew
transactionsforboththefederal
bankaccountandfederally
mandateddisbursementaccount
o Attheendofthemonth,Agency
fullyreconcilesbothaccountsand
recordsentriestoshowthecash
movement
o Treasuryreconcilesfederalbank
accountmonthlyandfederally
mandateddisbursementaccount
daily
Break
Icebreaker
DeeperDiveinLevel2FlowsandNarrativeforTRM–
Reconciliations(Daily&Monthly)
Notes:
 CashLedgeristheGL
 Cashledgerisreconciledtotreasuryledger
dailywithfinalatendofmonth
 Treasuryledgerisreconciledtobankbalances
dailywithfinalatendofmonth
Florida Department of Financial Services – Florida PALM TRM Workgroup #3 DeanaMetcalf
Page 3 of 6 Florida Department of Financial Services
Topic


Presenter
AllottedTime
DeanaMetcalf
20min
(11:10am–11:30am)
GarySchneider
20min
(11:30am‐11:50am)
Differentprocessforexceptionsdependingon
type(e.g.,deposit,returns)
Exceptionsandassociatedaccountingentries
areshownonindividualtransactionflowsand
notonoverallreconciliationflow
DiscussionofOutsideBankingServicesFlow
Notes:
 Treasuryreviewsandevaluatesalloutside
bankingservicesrequests
 Decisionboxaddedinagencyswimlanewith
linkagetoRevolvingFundflow
 Clearingfundsareanexampleofoutside
bankingactivitiesthatrequireabankaccount
setup
 PettyCashandCCprocessingareexamples
bankingservicesthatdon’tneedabank
accountsetup
CMIAflow:
 TRM9.8wasshadedtoindicatethatit’s
outsideofFloridaPALM
DiscussionofKPIs/Assumptions
Notes:
 CSHandTRMKPIssometimesoverlap
 Ourscopeisfocusedonenhancingoperations
byprovidedmoretimelyinformationtomake
betterinformeddecisions
 Added“Timelyreimbursementofrevolving
funds”inordertostreamlineoperationsor
minimizerisk
 Deleted“Paymentstatus”assumption
 Updatedtreasurysystemsthatwillnotbe
replacedaspartofFloridaPALMtoinclude
CAPandCD
Florida Department of Financial Services – Florida PALM TRM Workgroup #3 Page 4 of 6 Florida Department of Financial Services
Topic
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Presenter
AllottedTime
Jordan
Landreth
10min
(11:50am‐12:00pm)
DescriptionofItem
AssignedTo
DueDate
UpdatenarrativetoindicateP2Pinterfaceat
TRMIP2.12
AddreconciliationreportstoAgencyFederal
BankAccountflows
TRMBPS
Team
TRMBPS
Team
Added“ThetreasuryledgerwillcaptureCRA
participantandbalanceinformation”tothe
end“Revolvingfundpayments”assumption
Updatedinvestmentassumptiontoadd
examplesof“Specifictypesofinvestmentand
relatedtransactions”assumptions(accruals,
gains&losses,amortization)
Addedanassumptionthat“Thesystemneeds
toallowflexibilityforfuturechangessuchas
differentpaymenttypes,differenttypesof
investmentandrelateddataelements,data
exchangemethods”
CloseMeeting
 ActionItems
 Homework
o ThinkaboutKPIsthatcanmaximize
investmentreturns,minimizerisk,
enhanceoperations
ActionItems
Action
Item#
1
2
3
4
5.
6.
7.
ExampleofDEOreports
UpdateReconciliationflowtoindicateCash
ledgerisreconciledtotreasuryledgerdaily
withfinalatendofmonth
UpdateReconciliationflowtoindicate
Treasuryledgerisreconciledtobank
balancesdailywithfinalatendofmonth
Addtonarrativethatoutsidebanking
servicesarefornon‐revolvingfunds
ReviewTRMandCSHKPIsandensureon
appropriatenarrative
Florida Department of Financial Services – Florida PALM TRM Workgroup #3 06/01/2015
06/01/2015
MelissaHevey
05/28/2015
TRMBPS
Team
06/01/2015
TRMBPS
Team
06/01/2015
TRMBPS
Team
TRMBPS
Team
06/01/2015
06/01/2015
Page 5 of 6 Florida Department of Financial Services
Topic
8.
9.
10.
11.
12.
UpdateCSHFlowsandnarrativeforCAP
language
DiscusswithP2PTeamtoseeifwantto
changewirelanguageto“sameday
payments”asindustryischangingtoallow
otherpaymenttypestobesameday
Thinkofpossiblefutureenhancements,KPIs,
assumptions,etc.andemailtoDeana
Discussworkflow,attachments,document
management,etc.withSDS(technical)Team
todeterminewhatneedstobedocumented
tocapturewhen/whereworkflowisneeded
andwhen/wheredocumentsneedtobe
attached/stored,etc.
Sendoutupdatedflowsandnarrativefor
finalreview
Florida Department of Financial Services – Florida PALM TRM Workgroup #3 Presenter
AllottedTime
TRMBPS
Team
05/22/2015
TRMBPS
Team
05/22/2015
Workgroup
Members
06/01/2015
TRMBPS
Team
06/01/2015
TRMBPS
Team
06/01/2015
Page 6 of 6