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Wednesday, November 01, 2006

HUD seeks modernized financial-management system

The Housing and Urban Development Department seeks proposals to modernize its accounting and financial-management functions by moving its core legacy systems to the PeopleSoft suite of financial-management applications to create an integrated system.

HUD is conducting a public-private competition for system integration and hosting at a shared-services center for the HUD Integrated Financial Management Improvement Project. The goal is to reduce disparate legacy systems and data and to be able to generate accurate and timely financial information so managers can make informed decisions.

The end result will be the production of fully auditable financial statements throughout the department, and potentially the Federal Housing Administration, Ginnie Mae, and the Office of Federal Housing Enterprise Oversight, HUD said in its posting yesterday on FedBizOpps.

The ensuing contract will be for a base period of 18 months, with eight 12-month options and one six-month option period. HUD will award the contract within the second quarter of 2007. Proposals are due Jan. 8.

During the base period, the contractor will provide project management, hosting, migration and system integration.

Oversight agencies, such as the department’s Office of the Inspector General and the Government Accounting Office, have identified financial-management system deficiencies in the current core accounting system and general ledger, the HUD Centralized Accounting and Program System (HUDCAPS), introduced in 1994. The system also must comply with other federal financial and security requirements, HUD said.

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