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Oklahoma Office of State Finance Streamlines American Recovery and Reinvestment Act (ARRA) Data Submissions and Reporting with Oracle

Office Generates Valuable Reports and Eases Regulatory Compliance
Redwood Shores, CA – January 26, 2010
News Facts
• Oklahoma Office of State Finance implemented Oracle® Database, Oracle Warehouse Builder and Oracle Business Intelligence Suite Enterprise Edition Plus (Oracle BI Suite EE Plus), with the help of Oracle Consulting, to more effectively manage and improve visibility into American Recovery and Reinvestment Act (ARRA) funding data.

• The Oracle software enables the Office of State Finance to effectively and efficiently manage and collect data related to awards, sub-awards and vendor payments from more than 25 state agencies and higher education institutions that have received Federal funding under ARRA and then automatically submit the data in reports mandated by the Office of Management and Budget (OMB) to the Web site. The Oracle solution enables the department to better cleanse, combine and report the data, improving data accuracy.

• Prior to the Oracle implementation, the Office of State Finance was limited in its ability to drill down into the data to the individual award level. The Oracle solution enables the department to easily and quickly generate accurate, up-to-date ARRA reports, called Transparency reports, based on the data received from the state agencies. These reports, for example, outline the number of jobs created by different functions of government and within specific geographic locations, as well as highlight sub-award amounts categorized by award and payments made to vendors.

• In an effort to ensure full transparency and accountability for the state’s citizens, Oklahoma Gov. Brad Henry has also ordered the creation of a Web site to track how each individual agency is using ARRA funds. In the near future, Oklahoma Office of State Finance plans to leverage its existing Oracle solution to support this Web site, which will enable citizens to access clear and concise information about the Federal stimulus initiative including graphs illustrating how much money the state has spent in a certain quarter, a breakdown of the spending by category, and the ability to drill down into spending figures, job creation statistics, and other data.

Supporting Quote
• “The ARRA project was most difficult, as underlying assumptions changed almost hourly and we had to face major challenges at every turn. The Oracle team responded beautifully, providing the proper levels of leadership and teamwork to make the project a success,” said Michael Clingman, director, Oklahoma Office of State Finance.

• “ARRA has made it clear that every taxpayer dollar spent on economic recovery must be subject to unprecedented levels of transparency and accountability. The State of Oklahoma is focused on providing this transparency to its citizens. With Oracle Consulting, the state is able to meet these new challenges with regard to collecting, monitoring and communicating key information about its use of public funds using dashboards developed with Oracle Business Intelligence Suite Enterprise Edition Plus, and leveraging data currently existing in its financial, planning and tracking systems,” said Steve Holdridge, group vice president, Government and Education Consulting, Oracle.

Supporting Resources
Oracle Public Sector
Oracle Solutions Support the American Recovery and Reinvestment Act
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Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.