The Aurora Finance system is the University of Manitoba's financial management system. The central piece of the system is the Banner database. The other main piece of the system is the FAST Tool which is used to report on all the information housed in Banner.
Information from all University systems, such as the Human Resources system (VIP) is fed into Banner on a daily basis. Each night information housed in Banner is copied to the FAST Tool where Aurora Finance users can obtain the status of all their FOPs.
The Aurora Finance suite of financial systems consist of the following 5 systems:
- Banner Finance - also called Internet Native Banner (INB), Banner is designed for institutions of higher learning. As the diagram depicts, Banner is the “engine” or the main component of the Aurora Finance accounting system, recording every financial transaction at the University.
- Financial Administration Support Tool (FAST) - the reporting tool for the University Aurora Finance system. 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 provides the functionality to prepare budget adjustments, strike a new year budget and invoice external organizations for goods/services provided by the University.
- Concur - the travel booking and expense management system for the University, Concur is used to make travel arrangements online and to process expense claims electronically for employees who incur expenses made on University business. It offers the ability to review and approve expense reports online, upload receipts and review past transactions.
- EPIC - the University's eProcurement tool, Electronic Procurement Information Centre, enables employees to purchase goods & services electronically through an online tool. Some of its features include UofM catalog pricing, automatic commitment of funds, electronic approvals, end to end transparency for order tracking and FOP validation. Many of the University's Suppliers provide electronic processing on order receipt & invoicing through the system as well.
- UMPlan- the University of Manitoba's planning and budgeting tool is used to establish and maintain the operating budget model. The budgeting process is a continuous cycle and UMPlan offers you the ability to implement and monitor the current year's budget while planning for the future within your Faculty or Unit. This system allows you to prepare and manage both compensation & non-compensation budget information and access various reporting options.