Financial Management
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The Office of Management and Budget announced a new governance and oversight structure for the financial management shared services initiative. The oversight committee will create a strategy and the Unified Shared Service Management Team will drive the implementation of shared services across government.
October 23, 2015 -
The Defense Department is asking Congress to shift $23 million in additional funds to cover a suite of credit monitoring services for its federal workers compromised by the OPM data breach.
October 05, 2015 -
Congress and agencies are still looking for answers as they grapple with a 14 percent increase in the governmentwide improper payment rate in 2014.
October 02, 2015 -
HUD’s Inspector General says the department’s attempt to move its finances to a shared service is moving too fast.
September 16, 2015 -
The Department of Veterans Affairs will have to shutter some facilities beginning in August if Congress does not approve an emergency reallocation of funds, officials said Wednesday. Congressional overseers are displeased, saying they were blindsided by VA’s budget emergency.
July 23, 2015 -
The Office of Management and Budget wants grant-making agencies to have access to all the past performance data on grantees as part of their broader effort to improve the grant-making process. Agencies award more money in grants than on contracts.
July 01, 2015 -
There\'s been a lot of movement in the federal IT and acquisition communities over the last few weeks.
June 15, 2015 -
Of the 24 CFO Act agencies — those required to have audited financial statements — about half failed to comply with the law on improper payments, according to a preliminary analysis of the IG reports by the accounting firm Grant Thornton. The low scorers include the agencies that misspent the most money: the departments of Health and Human Services, Treasury, Agriculture and the Social Security Administration.
June 08, 2015 -
The Department of Health and Human Services is suffering from what many believe are the two major reasons why shared services continues to lag in government.
March 16, 2015 -
In a new report, the Partnership for Public Service and Deloitte Consulting say the Obama administration needs to increase accountability and guidance if it wants agencies to embrace shared service providers. The study draws from interviews with 18 high-level officials, most of them chief financial officers.
March 12, 2015 -
The push for shared services gets more momentum, as the push to save money and improve performance gets heavier emphasis from the Office of Management and Budget. Public-private partnerships are proving to be a win-win for both parties at all levels of government. Scott Quehl, senior principal at Accenture Federal Services and former chief financial officer at the Commerce Department, is writing about the junction of shared services and public-private partnerships. On In Depth with Francis Rose, he lays out the reasons shared services should get more attention.
March 11, 2015 -
David Mader, OMB controller, said the administration will target specific agencies with new technology to access more data to combat this long-standing challenge. GAO reported Feb. 26 that the governmentwide improper payment rate was 4.02 percent, meaning agencies misspent almost $125 billion in 2014.
March 11, 2015 -
The controller in the Office of Management and Budget says the next two years are critical for financial management shared services. Mader said along with Treasury, OMB will be determining how best to get agencies to move to one of four federal providers.
March 05, 2015 -
Shared services providers could potentially save the federal government $50 billion per year, according to John Marshall, founder and CEO of a newly-created coalition. The Shared Services Leadership Coalition (SSLC), launched Tuesday, will help the government quickly consolidate several agency-specific platforms into a few government-wide ones.
March 03, 2015 -
The Office of Management and Budget is circulating a draft memo to CFOs to all-but-mandate the use of the Invoice Processing Platform (IPP) run by the Treasury Department. Sources say agencies would have to justify to OMB why they wouldn't use the IPP. It's part of the administration's effort to push agencies toward more financial management shared services.
February 18, 2015