MAGIC Finance and Grants Management (FIGM)
Finance and Grants Management (FIGM) functionality is included in Phase I of MAGIC's implementation.
MAGIC's Finance and Grants Management functionality will be met with two software components -- Enterprise Core Component (ECC) and Customer Relationship Management (CRM).
The following areas of Finance and Grants Management will be met with the ECC Component:
- Finance (FI): External Accounting
- Cost Controlling (CO): Internal Accounting
- Funds Management (FM): Budgetary Accounting
- Grants Management (GM): Grant Accounting
- Grants Management is comprised of two different areas -- Grantee and Grantor. "Grantee" is the role the State Agency fills when it is the recipient of grant funding. "Grantor" is the role the State Agency fills when it is the granting agency of funding to private individuals, organizations or sub-recipients.
Grantor functionality will be met with CRM software.
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