The Office of Management and Budget rescinds CircularA-127 and issues new guidance to simplify financial system requirements. The goal is to improve quality, utility and the reliability of federal financial information.
Deputy Controller Norman Dong issued a memo to CFOs detailing steps they must take over the next 17 months better track and validate data between agency financial systems and the USASpending.gov portal.
OMB and Treasury have been working with the four federal financial management shared services providers to collect information on cost and performance. OMB Deputy Controller Norman Dong said the data will help agencies make true comparisons of the providers.