It's all about Standards–Standardizing and implementing standard ...

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Nov 10, 2013 (3 years and 9 months ago)

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Building on Governmentwide
Standards for Tomorrow’s
Financial Management and
Reporting

Holden Hogue, Director

Accounting Systems and Standards Directorate

Governmentwide Accounting

Financial Management Service

U.S. Department of Treasury

Our Shared Common Goals and
Interests


Provide for reliable, timely, and useful financial
and budgetary information


To the President, Congress, and the public


For use by management and decision
-
makers at all
levels


The Financial Report of the United States
Government


Remove the Disclaimer


Build and implement efficient and cost effective
financial management systems that meet
information and transparency needs


Continue to build on data and business process
standards

Financial and Budgetary

Current Reporting Challenges


Financial and budgetary data is not available from a single
source


Data must be obtained from multiple entities, locations and
applications


Substantial resources are required to establish and maintain
multiple data exchange schemas with multiple partners


Not all data is available electronically


Data exchange standards do not exist


There are inconsistencies between apportionment document
(SF
-
132) and the budget execution (SF
-
133)


These must be eliminated to support automation and standard
data exchange


Agencies

Treasury

OMB

Financial and Budgetary

Reporting Data Exchange Current
Structure

Deficiencies:


No single source of data


Multiple data exchanges
between multiple partners


Multiple schemas based on
data being exchanged


Data not available
electronically



Financial and Budgetary

Current Reporting: Proposed Solution

Create a mechanism that will:


Provide a single point of data for financial and budgetary
transactions


Provide a standard data exchange schemas


Eliminate the need to exchange data in paper form


Eliminate conflicts between reported financial and
budgetary data

Financial and Budgetary

Data Exchange Concept Model:

Data Exchange Proposed Structure

Benefits:


Provides a single source
for budgetary and
financial data


Reduces required
number of exchanges


Standard data exchange
schema


Makes data available
electronically

Data Exchange

Concept Model

OMB

Agencies

Treasury

Financial and Budgetary

Current Reporting

A Starting Point


Obtain the following data for use:


Apportionment data from OMB


FACTS I and FACT II data from Agencies


FACTS II required data elements (i.e., discretionary,
non
-
discretionary, X year, multiyear, etc… ) from
OMB MAX


Map budget execution processes


Develop model data table requirements


Develop data exchange standard


GTAS Keys


Replace FACTS 1, FACTS 2, IFCS and IRAS with
one integrated system that includes budgetary and
proprietary reporting.


Edit reports using the rules of the USSGL.


Check consistency against central accounting data.


Provide instant feedback.


Steadily improve agency accounting, which will
improve agency reporting

GTAS Keys (continued)


This will help us achieve our objective, which
comes from the CFO Act, purpose #3:



Provide for the production of complete, reliable,
timely, and consistent financial information for
use by the executive branch of the Government
and the Congress in the financing, management,
and evaluation of Federal programs.


Contact Information and
Websites


Contacts:


Rita Cronley,
Financial Management Service


Email:
rita.cronley@fms.treas.gov



Phone:
202
-
874
-
9902



Beth Angerman,
Financial Management Service


Email:
elizabeth.angerman@fms.treas.gov


Phone:
202
-
874
-
1544



GTAS Website


www.fms.treas.gov/gtas



New Standard

Interagency Agreement (IAA)



Under Development 2009 due to:


inability to account for and reconcile intragovernmental transactions
between departments = audit finding on US financial report


FY 2012 is the target to reduce the intragovernmental transactions material
weakness to an immaterial level




Future Benefit:


facilitates communication between the Buyer/Requesting Agency and
Seller/Servicing Agency


enables trading partners to agree on the terms of reimbursable transactions
before business begins



Implementation and Direction:


OMB to issue IAA Implementation Memorandum Summer 2010


OMB/FMS partnering for agency outreach, communication and training


NSF piloting form


offering lessons learned


Paradigm Shift



IAA

Key:


Initiates




Approves

12

Program

Finance

Budget

BUYER

Acquisition

Program

Finance

Budget

Acquisition

Seller

Contact Information and
Websites


Contacts:


Kim Farington,
Office of Management and Budget

Email:
kfarington@omb.eop.gov

Phone: 202
-
395
-
3053



Robin Gilliam,
Financial Management Service


Email:
robin.gilliam@fms.treas.gov


Phone: 202
-
874
-
9133



Websites:


Max Homepage


https://login.max.gov/cas/login?service=https%3A%2F%2Fmax.omb.gov%2Fco
mmunity%2Fx%2FwoOoGg



Financial Management and Budget Standardization [Sign up for email updates]


http://www.fms.treas.gov/finstandard/index.html