The DSA needed a full fund accounting solution to effectively track, manage and support each individual diocese with integrated reporting, billing, and employee insurance costs.
In 2016, the finance team went through the process of implementing MIP Cloud. During the process of cleaning and importing data, Collier and the team were able to move from one fund to 10 funds – more clearly representing their chancery pastoral center, retreat center, cemetery, charity, insurance and various grant funds. They also streamlined their General Ledger accounts from 695 to 164 and scrubbed their vendor list from more than 5,000 vendors to just over 1,000.
“The medical insurance we pay for the employees of the Diocese was never budgeted for in QuickBooks,” says Collier. “We spend about $150,000 a month on medical insurance. We billed the individual parishes for their portion and then they reimbursed us. That wasn't budgeted anywhere – it was just netted. This hid the actual total spend on medical insurance.”