We’re excited to announce the Financial Management module — a starter kit for end-to-end financial planning, procurement, contract management, and payment execution.

What is the Financial Management Module?

The Financial Management module provides structured data capture for managing the complete financial lifecycle from budget planning through payment disbursement. It enables organizations to define budgets and funding sources with funds control, manage purchase requisitions and procurement processes, formalize agreements through contracts with amendments and deliverables, issue purchase orders against contracts, record financial commitments to reserve funds, and process payments to suppliers with complete traceability and audit support.

Key capabilities include:

  • Budget Planning and Control – Define budgets for fiscal periods with detailed line item allocations by funding source and classification, track committed and expended amounts against available balances
  • Funding Source Management – Identify origins of funds (appropriations, grants, projects, cost centers) with hierarchical structures and availability tracking
  • Financial Classification – Categorize transactions by expense type, object class, account code, or program code with flexible hierarchical taxonomy
  • Purchase Requisition – Capture internal requests for goods or services with business justification, estimated costs, approval workflows, and funds availability validation
  • Procurement Management – Manage competitive sourcing processes (RFPs, RFQs, bids) with vendor evaluation, award decisions, and approval tracking
  • Contract Lifecycle – Formalize agreements with vendors including contract lines, amendments, deliverables, milestones, and performance tracking
  • Purchase Order Processing – Issue authorized orders to suppliers with line-level detail, contract alignment, and funds commitment
  • Financial Commitment – Reserve or obligate funds for approved actions with forward visibility into planned spending
  • Payment Execution – Process disbursements to suppliers with invoice tracking, funds verification, and reconciliation support

What’s Included

This initial release (v1.1.0.0) provides the foundational data model:

  • 16 entities providing comprehensive financial management from planning through payment
  • Integration with Core module for fiscal periods, products, agreements, documents, persons, and organizations

Forms and views for budget management, procurement processing, contract administration, and payment tracking will be available in an upcoming release. The module provides implementors with a baseline data structure that can be customized for government financial systems, grant management programs, project-funded operations, procurement departments, and commercial financial operations.

Getting Started

The Financial Management module is available in the FAST Modules Repository under the MIT license. It requires the Core module as a foundation.

View the complete Financial Management module documentation for entity descriptions, data model diagrams, and implementation guidance.