Agencies to report financial services metrics under LOB

Financial Services Assessment Guide

Agencies and their financial management shared-services providers must begin to report in June how well their financial services perform as part of the Financial Management Line of Business.

The Office of Management and Budget established metrics detailed in the Financial Services Assessment Guide, published March 30, which agencies and shared-services providers will use to evaluate their financial services to identify where they can improve performance and reduce cost.

Major agencies and providers will report April data by June 15 and monthly thereafter.

The financial-management performance of agencies and shared-services providers will be more transparent and accountable under the metrics produced by OMB, the General Services Administration and the CFO Council’s Performance Measures Working Group.

The first phase will focus on defining and collecting a set of baseline metrics for information technology infrastructure hosting and application management. These include infrastructure availability, help desk response time, core financial-system application availability and report production time.

The next phase will refine the metrics, collecting an expanded set of measurements including cost, improving reporting capabilities and accountability mechanisms, and streamlining the collection effort.

Agencies will report performance data through the Chief Financial Officers’ Metric Tracking System.

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