Municipal 360 Chart of Accounts Standardization Program (8-weeks)

Program Overview

The Municipal 360 Chart of Accounts Standardization Program (BC) is a specialized 8-week initiative designed to assist BC municipalities in transforming their financial management systems. Through this program, participants will be guided through the process of converting their existing Chart of Accounts (COA) to Municipal 360's proven standardized framework, ensuring greater efficiency, accuracy, and transparency in financial reporting.

This program offers a comprehensive and standardized Chart of Accounts specifically tailored for British Columbia municipalities. Participants will use our all-in-one Design/Map/Validate (DMV) workbook, which includes automated financial statements, to simplify the design, mapping, and validation processes. The program also provides 10 hours of one-on-one support from experts and fosters a collaborative cohort environment, enabling shared learning and feedback.

Program Features:

• Standard COA for BC: Access our comprehensive and standardized Chart of Accounts specifically tailored for British Columbia municipalities.
• Design/Map/Validate (DMV) Workbook: Utilize our all-in-one workbook that includes automated financial statements, simplifying the design, mapping, and validation processes.
• 10 Hours of One-on-One Support: Receive personalized assistance from our experts throughout the program, ensuring you have the support needed to succeed.
• Collaborative Cohort Environment: Join a group of municipalities working through the program simultaneously, allowing for shared learning, feedback, and support.

Key Outcomes:

• Efficiency: Streamline financial reporting and reduce administrative burdens.
• Accuracy: Ensure precise and compliant financial data through a standardized COA.
• Collaboration: Benefit from shared learning and support within the cohort.
• Support: Access personalized assistance with 10 hours of one-on-one support from our experts.
• Results: On average, we see a 21% reduction in accounts.  Account codes will be future-proofed and your organization better positioned to adopt and leverage new technologies.  Areas within the GL will be cleanly organized and aligned with your municipality (such as departments, reserves, and capital expenditures).

Week-by-Week Breakdown:

Week 1:  Sept 17

Program Kick-off and Initial Assessment

• Introduction to the program, objectives, and timeline. Initial review of each municipality’s current COA and goal setting.

Week 2: Sept 24

COA Design, Mapping, and Validating Introduction Workshop

• Comprehensive workshop covering the standard design and principles. Introduction to the Design, Map, Validate (DMV) workbook. Begin populating the workbook with your municipality’s specific details.

Week 3 & 4: Oct 1 & Oct 8

Account Mapping

• Start mapping existing accounts to the new standardized COA with support from the cohort and experts. Learn how to leverage artificial intelligence tools and our ‘Bulk Mapping’ feature to accelerate the mapping process.

Week 5: Oct 15

Mapping Review and Refinement

• Present mapping progress to the cohort for collaborative feedback. One-on-one consultations with experts to refine mapping and make necessary adjustments.

Week 6: Oct 22

Validation Preparation and Execution

• Preparation for COA validation, including tools and techniques. Set up validation reports and parameters and engage in group discussions to address challenges.  Conduct validation exercises to ensure the accuracy and integrity of the new COA. Resolve any discrepancies and share progress with the cohort.

Week 7: Oct 29

Final Adjustments and Reporting

• Make final adjustments based on validation outcomes. Training on generating and interpreting validation reports, with a group review of final COA designs.

Week 8: Nov 5

Program Wrap-Up

• Review overall progress and achievements. Review strategies for maintaining and updating the standardized COA, and foster ongoing networking opportunities among cohort members.

Note that all sessions will be recorded and made available to the cohort for completion at their own pace, should the need arise.