By: JoLynn Khan
The Financial Management Modernization Initiative, or FMMI, is a program (which includes an SAP system) supported by the Office of the Chief Financial Officer (OCFO) to modernize USDA department and agency financial and administrative payment and program general ledger systems. FMMI is commonly referred to as USDA’s Core Financial System.
The objective of FMMI is to provide the Farm Service Agency (FSA) and the Commodity Credit Corporation (CCC) with a single integrated financial system for consistency in program delivery and financial reporting, and to improve overall financial accountability. To accomplish this, it is anticipated the FMMI system will ultimately subsume all current legacy applications performing core financial functions. FMMI is run on ERP Central Component (ECC), an SAP product consisting of several core financial processes.
FMMI directly relates to MIDAS, as both are involved in the future day-to-day processes of most state and county office employees. First, MIDAS generates customer and business transactions (such as applications, agreements, and acreage reports) via its Customer Relationship Management (CRM) component. Activities and transactions in MIDAS trigger corresponding system accounting documents, which are passed from CRM to ECC. This handoff triggers several financial processes and transactions to occur in FMMI (such as recording of fees and invoices, disbursements, loan receivables). In turn, as related activities and transactions are conducted in FMMI, notifications and updates are regularly passed back to MIDAS, so the systems stay closely in sync. This assures that field employees will have visibility into key loan and producer financial standing.
For more information about the integration of MIDAS and FMMI, please read the FMMI FAQs: http://intranet.fsa.usda.gov/fmmi/frequently_asked_questions.htm. These FAQs will be updated periodically. Note: you must be connected to the USDA network to access the FMMI FAQs.
