CFO Council

  • How CXOs can close the value-proposition gap

    The Treasury Department has developed a financial management maturity model to help agencies understand mission value of the CFO’s office.

  • OMB unties a few of the travel, conference spending knots

    A CFO Alert tells agencies the White House would listen to proposals to spend more money on travel and conferences in 2015.

  • OMB to test agency readiness to move to financial shared services

    Danny Werfel, the OMB controller, will issue a new policy in the coming weeks that will mandate agencies simplify their requirements before upgrading their general ledger systems. The policy also will require agencies to strongly consider one of the four federal shared service providers. OMB said it has learned lessons from the previous attempts to move agencies into these common financial management infrastructures.

  • OMB offers first major rewrite of grant-making, oversight processes

    New proposed guidance from the Office of Management and Budget would streamline and consolidate grant regulations for every agency. Comments on the recommendations are due May 2.

  • Federal Drive Interviews — Oct. 10, 2012

    Denise Wu of Clifton Larson Allen explains how the Chief Financial Officers Council has moved the idea of a Statement of Spending to the front burner. Julian Pecquet of The Hill discusses the bitter partisan battle raging on Capitol Hill over last month’s attack in Benghazi. Sharon Virts-Mozer, president and CEO of FCI Federal, details how some local businesses are thriving despite down economy and impending sequester.

  • CFOs remain tepid on financial shared services

    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.

  • CFO Council extends contract to build debt-collection dashboard

    GSA also renews a contract to improve its human resources shared service provider effort. The Federal Acquisition Institute will hold an industry day in November to discuss two new solicitations.

  • 20 years later, CFO Act needs some freshening up

    Congress must standardize the role of the federal chief financial officer and give deputy CFOs more clout to make up for time between political appointments of CFOs. These are two of the recommendations from a…

  • OMB pushes CFOs to lead cost-cutting effort

    In a memo to agency financial managers, Danny Werfel set a July 31 deadline for three broad initiatives to reduce spending. Agency CFOs also must rank their employees’ SAVE Award ideas for implementation and begin sharing best practices to root out waste, fraud and abuse.

  • New governmentwide financial systems on tap

    OMB controller Danny Werfel said the Treasury Department should be finished testing and analyzing systems in the next six months. The CFO Council highlights priorities for 2011, and among them is the further reduction of improper payments. Werfel said agencies will begin using the software tool first utilized by the Recovery Board to identify potential problems.

  • Performance management on agencies’ front burners

    President Obama has said publicly that he is a big fan of performance management, and wants to blend its practice into the day-to-day operation of the Federal Government. But what does that mean for feds who are tasked with actually making the wheels of government turn every day? The Association of Government Accountants convened a conference to discuss performance in government.

  • Agencies count on federal financial managers

    In the federal government, they wield spreadsheets, strive for ”clean audit opinions”, and are the first line of defense in accounting for the spending of taxpayer dollars. ”They” are the top federal CFOs and financial managers, and yesterday, they met here in Washington to discuss their profession.

  • Agencies get glimpse of the future of grants management

    Implementation plan details short, medium and long term goals