The director of the new Office of Financial Innovation and Transformation at Treasury, Adam Goldberg, busts a myth for Federal News Radio. He says his office won’t be taking on the work of the old Federal Systems Integration Office.
An exclusive Federal News Radio survey of federal CFOs and deputy CFOs finds 55 percent of the respondents rated spending money more wisely as their top priority. But at the same time, 36 percent rated moving to the Internet Payment Portal or other financial management shared services as their fourth highest priority. CFOs also say they are using data to make better decisions and budget reductions, not sequestration, is their biggest concern.
The administration is expected to release a new directive in the coming weeks to update Circular A-127, which defines how agencies operate their financial systems. The new guidance is expected to open the market up to vendors and make it easier for agencies to transition to shared service providers.
The Treasury Department has developed a financial management maturity model to help agencies understand mission value of the CFO’s office.