Fiscal Health Monitoring System
Your annual reporting in accordance with Section 7-406(c)b of the General Statutes is moving to the Office of Policy and Management’s new Fiscal Health Monitoring System (FHMS). Reporting under this new platform will be based upon a hybrid approach whereby the mapping of your municipality’s financial data will be significantly reduced as compared to prior years that required municipalities to map/cross-walk their complete general ledger accounts to the Uniform Chart of Accounts (UCOA). Reporting will instead be based primarily upon financial data that is consistent with the format of your audited financial statements. The Annual Financial Data Report (AFDR) is to be completed on an annual basis using the sign-in credentials to FHMS that will be provided to each municipality at a later date.
The go-live date of the new platform is targeted for the latter part of April 2021. Ample time with specific due dates will be provided to you accordingly for completion of your annual filings once the FHMS training is made available.
As we begin to roll out details of the new platform and the training materials to assist you in your filings, we will be providing you with further information. We are also establishing a webpage that will frequently be updated on matters related to the FHMS and AFDR.
NEW! UCOA Letter to Municipalities as of 01/28/2021
FHMS Project Timeline
01/28/2021 Letter to Entities – Annual Report Fiscal Year End 06/30/2020
04/07/2021 Letter to municipal CEOs and CFOs - Completion of FHMS Authorized Users Contact Form
April 2021 - Update FHMS with authorized users' contact information and roles
April 2021 - Instructions for FHMS Go-live and Training
April 2021 - Entity Training Rollout
April/May 2021 - Appointment of Auditor Notification to Entities for Fiscal Period 2020-2021
April/May 2021 - Enter Summary Budget Data and Upload Budgets for Fiscal Period 2021-2022
May/June 2021 - Enter data for Financial Indicators, Pension, OPEB, UCOA for FYE 06/30/2020
Upcoming Timeline Events
TBD Notification to Entities on Exemption Form Submission for FYE 06/30/2020
TBD Notification to Entities on Extension Form Submission for FYE 06/30/2020
TBD Single Sign-on to STARS Reporting System
TBD UCOA Reporting (Historical Data)
