System Overview

Aurora Finance is the University’s accounting system.

The current system, which went “live” on April 1, 2006, includes the following:

• General Ledger
• Journal Entries and Interdepartmental Charges
• Accounts Receivable and Billing System
• Purchasing/Payables
• Grants
• Endowments
• Budgeting
• Capital Equipment Inventory System
• Web-based reporting

It consists of two main components:

1.  Banner Finance, which was purchased in September 2002 from SunGard SCT. It is based on a packaged solution designed for institutions of higher learning. As the diagram depicts, Banner is the “engine” or the main component of the Aurora Finance project and delivers most of the  functions users require.

2.   Financial Administration Support Tool (FAST), purchased from Millennium Computer Systems. FAST downloads data from Banner, stores it in its own database, and presents financial information in an easy-to-read and understandable format. It is also the product that offers the functionality to prepare budget adjustments and strike a new year budget.

The above diagram illustrates the overall system.