OMB, CFO Council take on finance system jobs

Two federal financial system tasks for which Joint Financial Management Improvement Program officials were responsible are being transferred to the Office of Management and Budget and the Chief Financial Officers Council.

OMB officials released a Dec. 1 memo advising agencies of the changes, which are a revision to OMB Circular A-127. That document governs implementation of the CFO Act of 1990, which covers 26 major federal agencies.

The Office of Federal Financial Management (OFFM) , now has the task of determining federal financial system requirements. The office is one of four OMB statutory offices managed by agency€s deputy director management, who currently is Clay Johnson.

Meanwhile, the CFO Council takes over testing and certification of commercial off-the shelf financial management software for agency use. OFFM officials will write the core financial system requirement document.

All software previously certified by program officials will be grandfathered in under the new regulatory regime.

About the Author

David Perera is a special contributor to Defense Systems.

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