Online extra | Financial management ahead of the pack

The Office of Management and Budget hopes the Financial Management Line of Business initiative will improve the cost, quality and performance of agencies’ financial systems.

Four agencies have been selected as Centers of Excellence: the Treasury Department’s Bureau of Public Debt, the General Services Administration, the Transportation Department and the Interior Department’s National Business Center.

Also, the Labor Department last December issued a solicitation for a services provider to help it become a center of excellence as well.

Meanwhile, a handful of agencies have migrated to FM COEs, OMB reported, including the Office of Personnel Management migrating to NBC, and smaller agencies such as the National Gallery of Art, the Federal Housing Finance Board, and the Institute of Museum and Library.

Two other agencies—the Environmental Protection Agency and the Agriculture Department—are expected to migrate to FM COEs in the near future, as both have released solicitations for a public or private service provider and are expected to make a selection by the end of the year.

OMB is putting the finishing touches on a financial management road map that will contain a set of performance measures and a sample service level agreement to help agencies plan to use shared-services providers under the LOB. A draft for public comment should be released within the next few months, OMB officials said.

About the Author

Connect with the GCN staff on Twitter @GCNtech.

Featured

  • Defense
    The Pentagon (Photo by Ivan Cholakov / Shutterstock)

    DOD CIO hits pause on JEDI cloud acquisition

    Dana Deasy set cloud as his office's top priority. But when it comes to the JEDI request for proposal, he's directed staff to "pause" to compile a comprehensive review.

  • Cybersecurity
    By Gorodenkoff shutterstock ID 761940757

    Waging cyber war without a rulebook

    As the U.S. looks to go on the offense in the cyber domain, critical questions remain unanswered around who will take the lead and how clearly to draw the rules of engagement.

  • Government Innovation Awards
    Government Innovation Awards - https://governmentinnovationawards.com

    Deadline extended for Rising Star nominations

    You now have until July 18 to help us identify the early-career innovators and change agents in government IT.

Stay Connected

FCW Update

Sign up for our newsletter.

I agree to this site's Privacy Policy.