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Building a Foundation With Standardization

Building a Foundation With Standardization. Dianne Copeland, Director, FSIO Federal Financial Management Conference March 11, 2008. FMLoB Vision/Framework. Common Governmentwide Accounting Classification (CGAC) Structure. Common Government-wide Accounting Classification (CGAC).

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Building a Foundation With Standardization

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  1. Building a Foundation With Standardization Dianne Copeland, Director, FSIO Federal Financial Management Conference March 11, 2008

  2. FMLoB Vision/Framework

  3. Common Governmentwide Accounting Classification (CGAC) Structure

  4. Common Government-wide Accounting Classification (CGAC) Goal: Develop a common accounting code structure, including an applicable set of definitions, that all federal agencies’ new financial management systems must adhere to. The common accounting code structure will: • Accommodate both standard government-wide accounting-related functions and critical agency-mission-specific accounting functions (data); and • Include standardization of such items as Treasury Account Symbol/ Treasury Account Funds Symbol; Internal fund code; Budget fiscal year; Accounting quarter and month; Program; Organization; Project; Activity; Cost Center; Object Class; and Budget function (and sub function code)

  5. CGAC Benefits • Create common language and definitions for accounting classification • Provide greater specification in future system requirements to ensure all elements needed are being provided by financial systems • Reduce need to maintain cross-walks and perform reconciliations • Facilitate preparation and transmission of financial reports to OMB and Treasury • Facilitate government-wide exchange, comparison, and aggregation of similar data • Reduce costs and risks of implementing a new Federal financial management system or migration to a shared service provider through improved portability of an agency’s accounting classification structure • Achieve greater consistency and accuracy in government-wide reporting.

  6. Standardization - CGAC • Common Government-wide Accounting Classification (CGAC) Structure • Final structure published in August 2007

  7. CGAC: Universe of Elements

  8. CGAC Data Standardization

  9. Level of Standardization • Data Definition • Field Size • Field Format • Values • Identified field owner • Standard value established • Agency specific • Agency defined

  10. Business Process Standardization

  11. Business Process Standardization Goal: Develop a standard set of business practices for core financial management functions (funds control, payables management, receivables management, reporting, reimbursables) to be adopted by all federal agencies. The document/model will include: • Sequenced activities for core business processes • Data objects participating in a business activity • Relationships among the objects as they exist in the actual business activities • Data elements and definitions used by these objects • Business rules governing these objects

  12. Business Process Standardization Benefits • Lower risk of agency migration to a Shared Service Providers (SSP) • Assurance that SSP’s process requirements are addressed/incorporated into the process standards • More efficient standardization of interfaces to other systems and Treasury • Potential savings and efficiencies on human capital costs • Improved integrity of financial management at both the individual agency and Government-wide levels and ensures compliance with financial management laws and regulations.

  13. Standardization – Business Processes • Business Processes (BP) • Funds Control • Currently in final OMB review • Payables Management • Currently in final OMB review • Receivables Management • Exposure Draft to be published in April 2008 • Reimbursables • Exposure draft developed FY 2008 • Reporting • Developed FY 2008

  14. Interface Standards

  15. Interface Standards • Coordinating with major processes • E-Travel • E-Payroll • Acquisition • Grants

  16. Document Library and Points of Contact • FSIO and FMLoB documents on the web site • www.fsio.gov • FSIO main number • 202.219.0526 • Dianne E. Copeland • FSIO DirectorGeneral Services AdministrationOffice: 202-219-0550    Fax: 202 219-0549 • E-Mail: dianne.copeland@gsa.gov

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