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AIMD-95-228R 1 (1995-08-25)

handle is hein.gao/gaobackxm0001 and id is 1 raw text is: GAO United States General Accounting Office Washington, D.C. 20548 Accounting and Information Management Division B-265822 August 25, 1995 The Honorable Richard M. Moose Under Secretary for Management Department of State Dear Mr. Moose: Our recent reviews of the Department of State and the Agency for International Development' (AID) focused--in part--on concurrent major efforts to develop integrated financial management systems. We found significant similarities between State's Integrated Financial Management System (IFMS) initiative and AID's Worldwide Accounting and Control System (AWACS) initiative in terms of financial capabilities, completion dates, and agency processes. We believe that these similarities offer an opportunity for State and AID to work together to combine their system development efforts. Combining these efforts can result in significant savings to the federal government and allow State and AID to use one financial management system for both agencies' accounting purposes. To date, State has spent about $8 million in developing IFMS and in earlier plans estimated that IFMS would cost about $50 million to complete. However, State is currently developing a new 2-year plan for the IFMS initiative which will contain revised cost estimates when completed. To date, AID has spent $21.4 million for AWACS and plans to spend about $32.7 million to complete the initiative. Both the IFMS and AWACS initiatives involve developing and implementing a single agencywide financial management system to link or replace many current systems. 'Financial Management: State's Systems Planning Needs To Focus on CorrectinQ Long-standing Problems (GAO/AIMD-94- 141, August 12, 1994) and letter to the Administrator, Agency for International Development (GAO/AIMD-95-213R, August 4, 1995). GAO/AIMD-95-228R State Financial Systems Planning

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