Building on Governmentwide
Standards for Tomorrow’s
Financial Management and
Reporting
Holden Hogue, Director
Accounting Systems and Standards Directorate
Governmentwide Accounting
Financial Management Service
U.S. Department of Treasury
Our Shared Common Goals and
Interests
 Provide for reliable, timely, and useful financial
and budgetary information
 To the President, Congress, and the public
 For use by management and decision-makers at all
levels
 The Financial Report of the United States
Government
 Remove the Disclaimer
 Build and implement efficient and cost effective
financial management systems that meet
information and transparency needs
 Continue to build on data and business process
standards
Financial and Budgetary
Current Reporting Challenges
 Financial and budgetary data is not available from a single
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source
Data must be obtained from multiple entities, locations and
applications
Substantial resources are required to establish and maintain
multiple data exchange schemas with multiple partners
Not all data is available electronically
Data exchange standards do not exist
There are inconsistencies between apportionment document
(SF-132) and the budget execution (SF-133)
 These must be eliminated to support automation and standard
data exchange
Financial and Budgetary
Reporting Data Exchange Current
Structure
OMB
Treasury
Deficiencies:
•No single source of data
Agencies
•Multiple data exchanges
between multiple partners
•Multiple schemas based on
data being exchanged
•Data not available
electronically
Financial and Budgetary
Current Reporting: Proposed Solution
Create a mechanism that will:
 Provide a single point of data for financial and budgetary
transactions
 Provide a standard data exchange schemas
 Eliminate the need to exchange data in paper form
 Eliminate conflicts between reported financial and
budgetary data
Financial and Budgetary
Data Exchange Concept Model:
Data Exchange Proposed Structure
Treasury
OMB
Data Exchange
Concept Model
Benefits:
•Provides a single source
for budgetary and
financial data
•Reduces required
number of exchanges
•Standard data exchange
schema
Agencies
•Makes data available
electronically
Financial and Budgetary
Current Reporting
A Starting Point
 Obtain the following data for use:
 Apportionment data from OMB
 FACTS I and FACT II data from Agencies
 FACTS II required data elements (i.e., discretionary,
non-discretionary, X year, multiyear, etc… ) from
OMB MAX
 Map budget execution processes
 Develop model data table requirements
 Develop data exchange standard
GTAS Keys
 Replace FACTS 1, FACTS 2, IFCS and IRAS with
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one integrated system that includes budgetary and
proprietary reporting.
Edit reports using the rules of the USSGL.
Check consistency against central accounting data.
Provide instant feedback.
Steadily improve agency accounting, which will
improve agency reporting
GTAS Keys (continued)
 This will help us achieve our objective, which
comes from the CFO Act, purpose #3:
 Provide for the production of complete, reliable,
timely, and consistent financial information for
use by the executive branch of the Government
and the Congress in the financing, management,
and evaluation of Federal programs.
Contact Information and
Websites
• Contacts:
– Rita Cronley, Financial Management Service
Email: rita.cronley@fms.treas.gov
Phone:
202-874-9902
– Beth Angerman, Financial Management Service
Email: elizabeth.angerman@fms.treas.gov Phone:
202-874-1544
• GTAS Website
www.fms.treas.gov/gtas
New Standard
Interagency Agreement (IAA)
 Under Development 2009 due to:
 inability to account for and reconcile intragovernmental transactions
between departments = audit finding on US financial report
 FY 2012 is the target to reduce the intragovernmental transactions material
weakness to an immaterial level
 Future Benefit:
 facilitates communication between the Buyer/Requesting Agency and
Seller/Servicing Agency
 enables trading partners to agree on the terms of reimbursable transactions
before business begins
 Implementation and Direction:
 OMB to issue IAA Implementation Memorandum Summer 2010
 OMB/FMS partnering for agency outreach, communication and training
 NSF piloting form – offering lessons learned
Paradigm Shift
Program
Program
Acquisition
BUYER
Finance
Acquisition
Seller
Budget
IAA
Finance
Budget
Key:
Initiates
Approves
12
Contact Information and
Websites
• Contacts:
– Kim Farington, Office of Management and Budget
Email: kfarington@omb.eop.gov
Phone: 202-395-3053
– Robin Gilliam, Financial Management Service
Email: robin.gilliam@fms.treas.gov
Phone: 202-874-9133
• Websites:
– Max Homepage
https://login.max.gov/cas/login?service=https%3A%2F%2Fmax.omb.gov%2Fco
mmunity%2Fx%2FwoOoGg
– Financial Management and Budget Standardization [Sign up for email updates]
http://www.fms.treas.gov/finstandard/index.html