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Financial Management
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Richard Gregg, the Fiscal Assistant Secretary, will step down in June. Treasury Secretary Jacob Lew tapped Dave Lebryk, currently the commissioner of the Bureau of the Fiscal Service, to replace him.
May 29, 2014 -
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The Air Force claims the most progress in helping the military improve financial management. But government auditors say the Defense Department's effort to get an unqualified financial audit is at risk. One reason is the shortcomings in IT systems. Federal News Radio Executive Editor Jason Miller told Federal Drive hosts Tom Temin and Emily Kopp where DoD stands as the first of two financial management deadlines approach. Read Federal News Radio's related article.
May 14, 2014 -
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The Air Force does a 180 and now predicts it will meet the September and the 2017 financial management deadlines. Government auditors and Senate lawmakers agree the key to this effort is whether the Defense Department can upgrade and improve their track record in implementing ERP systems.
May 14, 2014 -
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The Office of Financial Innovation and Transformation issued two RFIs in the last few weeks. One announced an industry day for May 21, and the other is looking for ideas to improve how the government manages and integrates data from different systems.
May 08, 2014 -
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The Office of Management and Budget and the Treasury Department Friday announced they recertified the departments of Interior, Treasury and Transportation and added USDA to be the support pylons of its financial management shared services initiative. GSA is no longer an approved provider, and it's unclear where its 44 customers will migrate to next.
May 05, 2014 -
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In part 3 of our special report, Shared Services Revisited, Federal News Radio explores the administration's plans to ensure success in consolidating and standardizing financial systems this time around. Beth Angerman, director of Treasury's Office of Financial Innovation and Transformation (OFIT), said the goal is creating a repeatable, sustainable process for agencies to move to federal financial management providers. Over the next six months, Treasury and OMB must answer many of the outstanding questions about how this initiative will truly work.
April 10, 2014 -
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In our special report, Shared Services Revisited, OMB still must solve long-standing challenges to ensure federal providers are capable of bringing on large, cabinet level agencies. The role of the private sector is leaving some vendors unhappy, but officials say history shows their success rate with financial management system implementation to be poor.
April 09, 2014 -
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In part 1 of Federal News Radio's special report, this second attempt by OMB to move agencies to financial management shared services is fraught with the same obstacles of a decade ago. But OMB believes this attempt at shared services is different. The administration says budget concerns and technology advancements will help overcome these long-standing barriers.
April 08, 2014 -
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The Army hopes to follow behind the Marine Corps in successfully passing a partial audit of its financial statements. While the service acknowledges it's unlikely to get a clean opinion on the first go-round, it is confident enough in its internal controls to give it a try.
March 20, 2014 -
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Despite the billions spent investing in systems, financial processes are such that when you add up all the layers, it takes something akin to archaeology for a citizen to unearth a specific fact about where and how money was spent, says Federal News Radio host Tom Temin.
March 04, 2014 -
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Rafael Borras spent the last four years as the undersecretary of management for the Homeland Security Department before leaving Feb. 7. He said his goal was to make DHS more business-like by making it easier to apply data to decisions. Under Borras' leadership, DHS launched the Management Cube and received its first-ever clean financial audit opinion.
February 19, 2014 -
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The entire military must pass a financial audit by 2017, and the military services have made slow, uneven progress toward that goal. The Pentagon plans to conduct a partial audit of the entire department next year to identify weaknesses and areas in which it should focus its energy.
February 12, 2014 -
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Host Francis Rose talked to Mark Easton, deputy chief financial officer at the Defense Department, about DoD's efforts to reach auditability.
February 05, 2014 -
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Members of the military are burdened by credit card debt, loans and mortgages, but they still seem to be handling their finances better than their civilian counterparts, according to a report by the Financial Industry Regulatory Authority (FINRA) Foundation.
December 30, 2013
