- Modernize the production of financial information to efficiently and effectively manage operations of the federal government and provide accountability to taxpayers.
- Provide opportunities for federal agencies to consolidate financial management requirements to develop and implement standardized solutions.
- Align with the government-wide human capital strategy to recruit, develop, empower, and retain the financial management workforce for the 21st Century.
- Engage with stakeholders to improve the value of reporting and auditing.
- Over time, agencies have implemented financial management processes that are incompatible, operating in silos, highly tailored to their specific needs, and unable to share or compare information.
- Financial management modernization efforts present unique human capital challenges encompassing a wide range of job classifications, technical skills, and geographic needs.
- Resistance to change held by financial management policy and oversight communities have resulted in capability gaps, fragmentation, and duplication.
- Agencies are in various phases of the systems lifecycle, standards adoption, and implementation.
- Leverage investments and lessons learned from the past to inform the path towards financial management modernization.
- Improve on existing resources, tools, and best practices to optimize financial management processes to drive better outcomes.
- Connect talented candidates to address critical financial management needs, build institutional knowledge, and ensure successful succession planning.
The Fiscal Management Transformation Priority Area strategic approach is featured below:
Below is the Executive Steering Committee organizational structure for the Fiscal Management Transformation Priority Area:
The Executive Steering Committee membership for the Fiscal Management Transformation Priority Area includes:
- Office of Management & Budget
- Department of Treasury
- Department of Commerce
- National Science Foundation
- General Services Administration
Coming Soon! We will update Fiscal Management Transformation's latest news here. Stay tuned for the latest updates!
For any questions, please contact CFOC.email@example.com.