History Colorado

History Colorado: 

Detailed Project & Reporting System (DPRS) integrates accurate reporting from multiple accounting systems

History Colorado Profile:

  • 4 Departments and 35 independent business units, each with individual budget responsibility
  • Multiple reporting and funding entities (State, Federal, Vendor, Private Foundation)
    • Different fund sources with restricted vs. unrestricted covenants (State Appropriations, Operating Income, Gaming Revenue, Federal Grants, Private Grants & Donations, Vendor Commissions)
    • Different fiscal years (6/30,  9/30, 12/31)
    • Non-integrated autonomous accounting systems (cash vs. accrual, etc.)

“Corybant worked closely with us to define our needs and has consistently presented quality solutions that address those needs “
Joseph Bell, VP Finance

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The Problem:

  • Historically, monthly reports for the Board took three people several weeks to compile and included:
    • Budget and expense information by fund from COFRS (State Accounting System)
    • Relevant budget and expenses from Colorado Historical Foundation (a private foundation)
    • Excel spreadsheets with operating budget projections from each department
    • Projected future donation collections using Raiser’s Edge Donor Management Software. 
    • Undocumented and partially documented allocations (i.e. payroll allocations to projects)
  • Operationally, each month accounting staff would manually generate a report showing available budget in COFRS plus an estimate of the deferred revenue that department managers could add to their budgets. 
    • budget amounts reflected in COFRS did not include deferred revenues (which fall under specific fund accounting rules and may or may not roll into additional fiscal years).

The Solution:

♦  In addition to providing DPRS, an integrated reporting system, Corybant’s system created a formalized process for incorporating deferred revenues into available budget amounts and an online purchase request module that incorporated the entire available budget - including drill down to  available budget sources.