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The State Accounting Office of Georgia was established on October 6, 2004, when the Governor, Sonny Perdue, signed House Bill 293, which codified the realignment of the state's financial reporting and financial system responsibilities under a single State Accounting Officer. The State Accounting Office of Georgia is responsible for establishing statewide accounting and reporting standards and practices; operating and improving statewide financial and human capital management systems; preparing the state's Comprehensive Annual Financial Report (CAFR) (the annual audited financial statement for the entire state entity); providing statewide financial information on interim basis; training state accounting and payroll personnel in new policies, procedures, and standards; and improving accountability, efficiencies, and internal controls.
Prior to its Oracle Hyperion Financial Management implementation, The State Accounting Office of Georgia was burdened with a reporting system that had limited functionality and relied heavily on manually-intensive spreadsheets. The organization deployed the Oracle Hyperion system to integrate with and augment its existing PeopleSoft Financials deployment from Oracle, to provide a financial reporting application that streamlines data gathering, analysis, and reporting. Now the organization has a single version of the truth—one view of financial results integrated from multiple systems across the state and its components—without delays. As a result, The State Accounting Office of Georgia has been able to reduce the time needed to prepare its CAFR by two to three weeks as well as to simplify the processes and increase confidence in reported numbers. The agency also uses Hyperion to prepare and produce other statutory reports in addition to CAFR.
The State Accounting Office of Georgia realized its legacy reporting system would not meet its needs to address evolving, complex compliance requirements. The organization evaluated its options and ultimately selected Oracle due to its previous experience with the solutions.
Several executives within The State Accounting Office of Georgia had extensive experience with Oracle’s Hyperion solutions and knew that they could meet the organization’s unique needs. The easy integration with the state’s existing PeopleSoft Financials application was another key selling point.
The State Accounting Office of Georgia worked with Oracle Partner TopDown Consulting on designing the solution and setting up various views, as well as account hierarchies and rollups. TopDown Consulting designed the business rules, reconciled data, and set the solution up from start to finish. The State Accounting Office of Georgia went live on Oracle Hyperion Financial Management in just six months.