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Financial Performance Metrics


FY 2007 Financial Report
Bureau of Resource Management
November 2007
Report
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Below is a year-end summary provided to senior managers of the Department's performance relative to the Chief Financial Officers (CFO) Council financial metrics. Because of the unique aspects of operating in both a domestic and overseas environment, the Department adjusts these metrics were appropriate to reflect a measure for domestic operations and a separate indicator for overseas performance. A good example of this would be Percent of Vendor Payments Made by EFT where the domestic percentage target would be higher than the overseas target to convey the differences in the overseas banking systems inability to handle EFT transactions.

For FY 2007, the Department's financial metrics improved to green in two categories, fell to red in one category, and remained constant in the others. The Government-wide metrics are as of May 2007.

The Department's Financial Metrics
Measure
and Frequency
Why Is It
Important
State
Sept 2007
State
Sept 2006
Governmentwide
Performance Standards
Governmentwide
May 2007
Actual Rating Actual Rating Fully Successful
Fully Successful
Minimally Successful
Minimally Successful
Unsuccessful
Unsuccessful
Actual Rating
Fund Balance With Treasury - Net Percent Unreconciled [Monthly] Smaller reconciliation differences translate to greater integrity of financial reports and budget results. 1% Fully Successful 0.90% Fully Successful < = 2% > 2%
to
< = 10%
> 10% 0% Fully Successful
Percent of Amount in Suspense (Absolute) Greater than 60 Days Old [Quarterly] Timely reconciliation supports clean audits and accurate financial information. 15% Minimally Successful 90.00% Unsuccessful < = 10% > 10%
to
< = 20%
> 20% 24% Unsuccessful
Percent of Accounts Receivable from Public Delinquent Over 180 Days [Quarterly] Actively collecting debt improves management accountability and reduces Treasury borrowing. 53% Unsuccessful 40.70% Unsuccessful < = 10% > 10%
to
< = 20%
> 20% 14% Minimally Successful
Percent of Vendor Payments made Electronically [Monthly] Use of electronic funds transfer saves money, reduces paperwork, and improves cash management. 97% Fully Successful 95.40% Fully Successful > = 96% > = 90%
to
< 96%
< 90% 96% Fully Successful
Percent Non-Credit Card Invoices Paid On-Time [Monthly] Timely payment reduces interest charges and reflects a high degree of accountability and integrity. 84% Unsuccessful 79.40% Unsuccessful > = 98% > = 97%
to
< 98%
< 97% 100% Fully Successful
Interest Penalties Paid as a Percent of Total Payments [Monthly] Smaller percentages of interest paid shows that an agency is paying its bills on time which saves money and allows funds to be used for their intended purpose. 0.08% Unsuccessful 0.0100% Fully Successful < = .02% > .02
to
< = .03%
> .03% 0.03% Minimally Successful
Travel Card Delinquency Rates - Individually Billed Accounts [Monthly] Reducing outstanding travel card balances helps increase rebates to agencies. 2% Fully Successful 2.30% Minimally Successful < = 2% > 2%
to
< = 4%
> 4% 3% Minimally Successful
Travel Card Delinquency Rates - Centrally Billed Account [Monthly] Reducing outstanding travel card balances helps increase rebates to agencies. 0.0% Fully Successful 0.90% Minimally Successful >= 0% > 0%
to
< = 1.5%
> 1.5% 9.4% Unsuccessful
Purchase Card Delinquency Rate [Monthly] Reducing outstanding purchase card balances helps increase rebates to agencies and reduces interest payments. 0.1% Minimally Successful 0.88% Minimally Successful >= 0% > 0%
to
< = 1.5%
> 1.5% 3.6% Unsuccessful

 


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