1. New Mexico State Treasurer’s Office
DoIT Project Certification Committee
Integrated Treasury Solution Project Close-Out
November 13, 2018

2. Project Background to PCC June 22, 2016
Several reports and memos published regarding Cash Accounting Controls (LFC, 2012) and Current State Diagnostic of Cash Control (Deloitte, 2012)
Documents pointed to need for an alignment of business and accounting practices and use of an integrated book of record
Current investment accounting system (QED) was not integrated or interfaced with SHARE
Manual entries were run monthly to true-up SHARE’s general ledger
Many other processes were maintained in spreadsheets
When SHARE was implemented 2006, the Treasury module was only partially configured

3. Original Project Goals and Objectives
Minimize manual processes
Provide integration of and transparency into STO’s investment and debt positions
Leverage the State’s existing investment in SHARE
Facilitate book-to-bank reconciliation for DFA and agency fund balance verification for the OSA

4. Project Goals and Objectives (continued)
The Treasury Management System integrates:
Electronic funds transfers (e.g., wires and ACH)
Cash and liquidity management
Cash forecasting
Debt and investment management
Financial risk management (counterparty, interest rate risk, etc.)

5. Current Project Status
Completed May 18, 2018
All investments are in SHARE Deal Management
Financial Gateway was implemented as part of SHARE upgrade
STO now dispatches all ACH files for payments transacted through SHARE
Deal Management is generating automated general ledger entries for all bank and investment activity

6. Current Project Status (continued)
LGIP participant accounts are in SHARE Investment Pools module and statements have been generated from SHARE for eight months.
All LGIP activities are maintained in a separate business unit for security and accounting purposes
BPIP participant accounts are in SHARE’s Investment Pools module

7. Current Project Status (continued)
Agency fund balances are tracked and reported in SHARE cash management
STO now oversees the granting of user access for treasury roles

8. Ever-Improving Investment Accounting
A few years ago, accounting was recorded once per year by STO’s CPA
Monthly summary entries have been run since 2013
The new system posts entries at the transaction level
“Drinking from the firehose”

9. Summary of Project Costs and Benefits
Appropriated - $1,950,000
Actual costs - $1,946,300
Benefits
Investments, bank accounts and pools in SHARE
Accounting automated
Transparency

10. Lessons Learned
PeopleSoft is powerful but generic; it is not a robust investment-management system
JPM’s reporting system has helped fill gaps
Ongoing support will be necessary
Don’t assume that PeopleSoft’s system is flawless
Investment pools application has delivered bugs

11. Opportunities for Additional Enhancements
Additional automated interfaces
JPM, WFC, Bloomberg, and other banks
Bond accounting/project fund tracking and processing
Review business processes and organizational structure

12. Contact Information
Sam Collins, Deputy State Treasurer
Brent Johnson, Chief Information Officer
2055 South Pacheco Street, Suite 100
Santa Fe, NM 87505