Fundations

Fundations has been designed to accommodate the way municipalities conduct business, allowing you to do business the way you want to.

Fundations supports the full accrual, modified accrual and cash basis methods of accounting at all times, providing you the flexibility to conduct business as usual while complying with GASB #34.

Developed in conjunction with an accounting firm specializing in municipal audits and an advisory panel of municipal finance officers, the versatility of Fundations is its greatest asset.

Banking

Fundations provides municipalities with a variety of options to meet every banking need including:

• Concentration accounts
• Multiple checking accounts
• Simple reconciliation of multiple checking accounts on the system
• Automatically recorded transfers

Budget

Fundations provides users with the ability to plan a new fiscal budget based on ‘%’, ‘fixed dollar’ or ‘0’. Also, budget users are able to keep the current year’s budget open while tracking all budget amendments.

Other features include:

• Reports compare budget-to-actual on monthly and year-to-year basis
• Capability to input prior years’ historical information
• Ability to track three levels of approval:
  • Department request
  • Manager Recommendation
  • Board Approval

Expenses

The fully integrated purchase order and bill system in the Expense module reduces input time for users. The information from the purchase order can be pulled up when the bill is input and modified as necessary. Other features include:

• Vendor data allows you to capture default information from a vendor by account number, item or pricing, and to automatically use that information for frequently ordered items. You can change as necessary.
• Item codes can be used for frequently purchased items reducing input time and errors.
• Expense distribution can be made to multiple accounts and funds with the interfund entries made automatically.
• Produce encumbrance reports to show the effect of purchase orders on the budget.
• Recurring bills reduce data entry.
• Generate year-end 1099s for select vendors
• Vendor tracking with year-to-date totals and vendor history.

Fixed Assets

With a significant amount of attention being paid to GASB 34, the tracking of Fixed Assets has become a critical issue for many municipalities.

Fundations offers a number of features in the Fixed Asset module to simplify the process, including:

• Automatic calculation of straight line depreciation and preparation of depreciation entry for either monthly or annual entry.
• Fully integrated accounts payable module to reduce data entry.
• Maintenance of:
  • Asset type and description
  • Data of Acquisition and Data of Disposal
  • Asset cost
  • Depreciation
  • Accumulated depreciation
  • Estimated life
  • Salvage value

General Ledger

The General Ledger module of Fundations has been carefully planned to allow users ultimate manageability and control.

Features include:

• Account number flexibility allowing for up to 15 characters
• Automatic posting of interfund accounts
• Review and editing of unposted general journals prior to posting in the system.
• Users can open multiple periods and years.
• Users can hide or reveal inactive accounts, but posting is not allowed to inactive accounts.

Payroll

Perhaps one of the most complex modules in Fundations, the payroll system is a highly sophisticated tool that incorporates many useful functions.

With this module, users are able to set-up employees to be paid at different pay rates within one check. Also, if necessary, employee hours can be charged to multiple account numbers and funds.

Because Fundations is a fully integrated system, payroll charges to multiple accounts are automatically tracked. Thus, there is no need to record deductions in the Expense module.

Project Tracking

Fundations offers a unique tool for tracking various types of projects. This feature will allow users to charge expenses to different account numbers and then group expenses independently to different projects. Users are then able to print reports on a per project basis rather than trying to track expenses across accounts. This feature fully integrates with accounts payable to reduce data entry.

Users can:

• Track construction projects
• Track grant projects
• Code bills and receipts to specific projects
• Track projects over different fiscal years.

Reports

The Reports Module allows you to prepare a variety of standard or easily customized reports based on your needs. Users are able to generate reports for specific date ranges.

You are also able to:

• Combine reports to show several funds on the same report.
• Filter report data
• Generate year-end summary reports for an audit such as:
  • Cash Account summary
  • Interfund balance reconciliation
  • Interfund transfer reconciliation
  • GASB #34 report
  • Download any report to other formats such as Excel, Lotus, Quattro Pro, Microsoft Word and PDF.

Revenues

Fundations incorporates a highly efficent receivables module which interfaces seamlessly with other modules. Simplified entry of billing data and cash receipts, as well as the printing of invoices and deposit slips are features of the Revenue module.

Other features include:

• Cash register/cash drawer interface allows:
  • multiple cash registers
  • customer receipts generation
  • drawer reconciliation
  • review prior to posting
• Revenue distribution to multiple accounts and funds with interfund entries made automatically.
• Account history.

Security

The designers of Fundations have paid particular attention to the security of the system. In addition to the standard security features, Fundations will allow multiple users to enter date while restricting the posting of data to only designated users.

Fundations provides users with:

• Password protection
• Four Levels of security:
  • No access
  • Read Only
  • Full access
• With or without General Ledger posting