About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

GAO-12-184R 1 (2012-02-08)

handle is hein.gao/gaobacfsm0001 and id is 1 raw text is: Accountabiliy - Integrity - Reliability United States Government Accountability Office Washington, DC 20548 February 8, 2012 The Honorable Thomas R. Carper Chairman The Honorable Scott P. Brown Ranking Member Subcommittee on Federal Financial Management, Government Information, Federal Services, and International Security Committee on Homeland Security and Governmental Affairs United States Senate Subject: Financial Management Systems: Status of OMB's Review of Financial System Projects This letter transmits the enclosed briefing slides that we presented to your staff on February 1, 2012, in response to your request that we review the status of the Office of Management and Budget's (OMB) oversight of federal financial system projects.1 In June 2010, OMB announced an initiative to review federal agency financial system modernization projects at the 24 Chief Financial Officer (CFO) Act agencies.2 0MB provided guidance on this initiative in its June 2010 Memorandum M-10-26, Immediate Review of Financial Systems IT Projects.3 The memorandum provided instructions for CFO Act agencies to revise financial system modernization projects in accordance with three guiding principles and to submit their revised project plans for review. As discussed with your staff, our objectives were to describe: (1) the approach OMB followed to develop and implement the June 2010 memorandum; (2) the changes agencies reported making to their financial system project plans as a result of the June 2010 memorandum; and (3) OMB's future plans for oversight of financial system modernization projects. To address these objectives, we: met with OMB staff and Financial Systems Advisory Board (FSAB)4 members to determine the approach OMB followed to develop and implement the June 2010 memorandum; 1See enc. I for our briefing slides. 2CFOs were established under 31 U.S.C. § 901 (b) for 24 specific agencies that are subject to the CFO Act, as amended: the Departments of Agriculture (USDA), Commerce, Defense (DOD), Education, Energy, Health and Human Services, Homeland Security, Housing and Urban Development, the Interior, Justice (DOJ), Labor, State, Transportation, the Treasury, and Veterans Affairs; Environmental Protection Agency; National Aeronautics and Space Administration; Agency for International Development; General Services Administration (GSA); National Science Foundation; Nuclear Regulatory Commission; Office of Personnel Management (OPM); Small Business Administration; and Social Security Administration. 3OMB Memorandum M-1 0-26, Immediate Review of Financial Systems IT Projects (Washington, D.C., June 28, 2010). 4In addition to the issuance of the June 2010 memorandum, OMB established FSAB under the CFO Council. FSAB was comprised of three CFOs and three Chief Information Officers (CIOs) from major agencies. The FSAB function was to make recommendations to OMB, as requested, on financial system projects reviewed under the June 2010 memorandum. GAO-12-184R Status of OMB's Review of Financial System Proj ects Page I

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most