The State Treasurer’s Office plans to take a new approach to procurement and project implementation than what was originally planned for its Debt Management System (DMS).
A Joint Legislative Budget Committee report and a special project report detailing the changes will be publicly released at the end of October, according to the Treasurer’s Office.
Oracle has finished its assessment of the Debt Management System and provided “recommendations to modernize the architecture, increase the supportability and flexibility of the existing DMS I system, while minimizing the risk and cost,” a project update reported. Reflecting the changes, a Budget Change Proposal for fiscal year 2016-17 will be submitted to the Department of Finance, the report said.
The State Treasurer’s Office uses the Debt Management System "to administer the state’s outstanding debt, track and pay debt service and fees on outstanding debt, and track and validate the authority to issue new debt." The current system was implemented in 2002 on an Oracle platform.
Since 2004, the amount of state debt tracked by DMS has increased by more than 300 percent.
The last Budget Change Proposal project timeline had the vendor award targeted for March 2017, with a full deployment by March 2020. Under the new procurement plan, the vendor award is targeted for May 2016, with full deployment by December 2018. As a result, the total project timeline will be reduced by 15 months.
