What is the Florida PALM Project?
The Florida Planning, Accounting, and Ledger Management (PALM) Project is replacing the State of Florida’s current accounting and cash management systems with an integrated, enterprise financial management solution (FMS) that will allow the State to organize, define, and standardize its financial management processes.
Florida PALM Project Vision
Implement a statewide accounting system that enforces standardization, acts as a scalable foundation to evolve as business needs change, and positions Florida for future innovation as it considers a true enterprise-wide solution.
Project Solution Goals
- Reduce the State’s risk exposure by harnessing modern financial management technology built on the premises of scalability, flexibility, and maintainability;
- Improve state and agency specific decision making by capturing a consistent and an expandable set of data;
- Improve the State’s financial management capabilities to enable more accurate oversight of budget and cash demands today and in the future; and
- Improve staff productivity, reduce operational complexity and increase internal controls by enabling standardization and automation of business processes within and between DFS and agencies.
Background
Established more than 30 years ago, the Florida Accounting and Information Resource (FLAIR) has been the mainstay application providing accounting resources to the State’s agencies. However, since the implementation of FLAIR, the State’s budget and its accounting needs have grown and outstretched FLAIR’s capabilities. The Cash Management System was implemented in the late 1980’s and was recently updated in 2013, and has been similarly outpaced by the State’s needs. Based on information provided in the FLAIR Study, the Florida Legislature authorized the creation of the Florida PALM Project to design, develop, and implement a financial management solution (FMS).