GSA, OMB issue guidance on financial management

Agency officials uncertain about how to proceed with the Financial Management Line of Business now have a guide. The Office of Management and Budget and the General Services Administration have released the first version of the Financial Management Line of Business Migration Planning Guidance.

The financial management initiative is intended to cut down on duplicative financial programs by consolidating them in Centers of Excellence or shared service providers. Each provider would handle financial management for several agencies, giving those agencies more time to attend to their core missions.

The planning guide will reduce the cost and improve the quality and performance of financial management systems, according to a GSA press release. The guidance is available at the Financial Systems Integration Office’s (FSIO) Web site.

Policy-makers have said agencies needed a clear understanding of the new business line, which has many gray areas. The guide gives agencies performance measures and other tools to close performance gaps in core financial systems.

“The migration planning guidance is an important step toward establishing increased transparency that will foster efficiencies in federal financial systems and operations,” said Daniel Werfel, OMB’s deputy comptroller.

Mary Mitchell, deputy associate administrator of GSA’s Office of Technology Strategy and FSIO executive, said she encourages the financial management community to make suggestions and recommendations for improving the guidance.

Featured

  • Defense
    The U.S. Army Corps of Engineers and the National Geospatial-Intelligence Agency (NGA) reveal concept renderings for the Next NGA West (N2W) campus from the design-build team McCarthy HITT winning proposal. The entirety of the campus is anticipated to be operational in 2025.

    How NGA is tackling interoperability challenges

    Mark Munsell, the National Geospatial-Intelligence Agency’s CTO, talks about talent shortages and how the agency is working to get more unclassified data.

  • Veterans Affairs
    Veterans Affairs CIO Jim Gfrerer speaks at an Oct. 10 FCW event (Photo credit: Troy K. Schneider)

    VA's pivot to agile

    With 10 months on the job, Veterans Affairs CIO Jim Gfrerer is pushing his organization toward a culture of constant delivery.

Stay Connected

FCW INSIDER

Sign up for our newsletter.

I agree to this site's Privacy Policy.