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How is coordination of financial management functions with the various federal agencies effected?
Pursuant to the Chief Financial Officers Act of 1990, a deputy director for management was established within the OMB to coordinate financial management functions with the various federal agencies
What was the achieved aim of the Federal Financial Management Act of 1994?
the Federal Financial Management Act of 1994 extended the scope of the CFO Act by requiring agency-wide financial statements and a consolidated government-wide financial statement
What provision of the Chief Financial Officers Act of 1990 fosters organizational uniformity in management operations facilitates coordination of federal financial management?
the designation of CFOs and deputy CFOs for fourteen cabinet departments and eight major agencies of the executive branch
What document are Certifying officer's responsibilities are specified in?
The responsibilities of certifying officers are specified in the "Certifying Officers Guide," which outlines their duties and the procedures for certifying payments and obligations. This guide ensures compliance with federal regulations and provides clarity on the certifying officer's role in the financial management process. Additionally, these responsibilities may also be detailed in relevant agency policies and federal financial management regulations.
Does federal law require DoD to use certifying officers?
Yes, federal law requires the Department of Defense (DoD) to use certifying officers as part of its financial management and accountability framework. The requirement is established under the Antideficiency Act and related regulations, which mandate that certifying officers ensure the legality and appropriateness of obligations and expenditures. Their role is crucial in preventing unauthorized spending and maintaining the integrity of the DoD's financial operations.
What was GFEBS implemented to fulfill requirements mandated by?
GFEBS, or the General Fund Enterprise Business System, was implemented to fulfill requirements mandated by the Federal Financial Management Improvement Act (FFMIA) and the Department of Defense (DoD) financial management reform initiatives. It aims to provide a comprehensive financial management solution that enhances accountability, transparency, and efficiency in the management of federal funds. GFEBS integrates various financial processes, ensuring compliance with federal regulations and improving the accuracy of financial reporting within the Army.
The financial management service is the bookkeeper for the federal government and is managed by this department?
treasury
What is the Financial Management Service is the bookkeeper for the federal government and is managed by this department?
treasury
How does the Office of Federal Financial Management function?
under the control of the deputy director for management. A controller, who functions primarily in the area of financial management, heads this office and serves as principal adviser to the deputy director
What is gfebs funds management?
GFEBs Funds Management, or the General Fund Enterprise Business System, is a financial management system used by the U.S. federal government to streamline and enhance the management of government funds. It integrates various financial processes, including budgeting, accounting, and reporting, to provide a comprehensive view of federal financial activities. The system aims to improve efficiency, transparency, and accountability in managing taxpayer dollars across government agencies.
When was Federal Financial Supervisory Authority created?
Federal Financial Supervisory Authority was created in 2002.
What is the 12-month period used by the Federal Government for financial management purposes?
True(Kaylop)
