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Financial Management Service

Financial Management Service. Standardizing, Consolidating, and Optimizing Budget & Financial Management Business Processes and Data. Holden Hogue March 12, 2009. How is FMS Standardizing, Consolidating, and Optimizing Budget & Financial Management Business Processes and Data?. FMS is:

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Financial Management Service

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  1. Financial Management Service Standardizing, Consolidating, and Optimizing Budget & Financial Management Business Processes and Data Holden Hogue March 12, 2009

  2. How is FMS Standardizing, Consolidating, and Optimizing Budget & Financial Management Business Processes and Data? FMS is: • Implementing CGAC • Standardizing Financial Management and Budget business processes • Standardizing Data • Enterprise Data Architecture

  3. Implementing CGAC Converting to the Common Government-wide Accounting Classification (CGAC) Structure at FMS = • Converting Data from the 2 digit Department Regular codes to 3 digit Agency Identifier codes • Adding Bureau Codes that match with the OMB’s Bureau codes to align FMS reports with the Budget • Timeline for CGAC Conversion project = current to 2011+

  4. Implementing CGAC(cont.) First - FMS needs to inform agencies • Sent CFO letter and list of expenditure accounts informing of how codes will change - 6/30/08 • Received and incorporated comments • Will send CFO Letter and complete account crosswalk from current TAS to new CGAC TAS - 6/30/09 • Comments due 7/30/09

  5. Implementing CGAC(cont.) Second - FMS needs to Move Agencies to new Department Regular Codes • The following agencies will start to use their new 2 digit Agency Identifier and some Main accounts in support of moving to the new Common Government-wide Accounting Classification (CGAC) structure [www.fsio.gov] 3 digit agency identifier code: • Treasury Managed Trust Funds – April 13, 2009 • Legislative: January – March 2010 [possible new main accounts] • International Assistant Programs (IAP): January – March 2010 [possible new main accounts]

  6. Implementing CGAC(cont.) Third - FMS will start to transition • From collecting the current Treasury Account Symbols • To collecting the CGAC TAS for our transaction and reporting systems beginning in 2011 • This implementation plan, per each FMS application, is under development • FIRST – GTAS • Agency outreachhttps://www.fms.treas.gov/gtas

  7. Standardizing Financial Management and Budget Business Processes at FMS • Financial Management Lines of Business (FMLoB) • Working very closely with OMB and FSIO on: • Payment & Funds Management • Reimbursables (Buy/Sell) Management • Standardize an interagency agreement • Develop communication tool for processing reimbursable activity • Help in audit finding concerning elimination entries • Reporting

  8. Standardizing Financial Management and Budget Business Processes at FMS (cont.) • Budget Execution and Financial ManagementLine of Business (BEFMLoB) • Identified core budget execution process maps • https://max.omb.gov/community/x/EgAFAw • Utilized DOD BTA USSGL SFIS Transaction Library for government-wide use

  9. OMB Treasury Agencies BEFMLoB (cont.) Financial and Budgetary ReportingData Exchange Current Structure • Deficiencies: • No single source of data • Multiple data exchanges between multiple partners • Multiple schemas based on data being exchanged • Data not available electronically

  10. Treasury OMB Data Exchange Concept Model Agencies Financialand Budgetary Data ExchangeConcept Model: Data Exchange Proposed Structure BEFMLoB (cont.) • Benefits: • Provides a single source for budgetary and financial data • Reduces required number of exchanges • Standard data exchange schema • Makes data available electronically

  11. Enterprise Data Architecture (EDA) Activities Identifying Government-wide commonly used financial data elements across all major business lines (Collections, Payments, Reimbursements, etc.) Creating and Publishing XML Schemas - uniform and consistent means of exchanging Financial Data Standardizing Financial Data Elements - Financial Data Registry

  12. EDA Activities(cont.)Financial Data Registry Implemented The FMS Registry in 2008: Provides an Inventory of Standard Shared Financial Data Documents Data Standards for: Name, Format, Length, Business Definition, Business Owner, etc. Documents Business and Data Integrity Rules www.fms.treas.gov/eda

  13. EDA Activities (cont.)Financial Data Registry(cont.) • XML Schemas • Adding additional data elements and data models to the registry as additional business lines are evaluated • Publishing interface schemas EDA web site with supporting artifacts

  14. FMS Contacts • Holden Hogue – Budget holden.hogue@fms.treas.gov, 202-874-6257 • Robin Gilliam – CGAC, FMLoB Standardization robin.gilliam@fms.treas.gov, 202-874-9133 • Ed Coia – Enterprise Data Architecture, XML Schema ed.coia@fms.treas.gov, 202-874-7039

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