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Office of Financial Policy Training Presentation. Reviewing and Researching Financial Policy. Review the roles and responsibilities for the Office of Financial Policy (OFP), Accounting and Payroll Policy Service.
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Office of Financial Policy Training Presentation Reviewing and Researching Financial Policy
Review the roles and responsibilities for the Office of Financial Policy (OFP), Accounting and Payroll Policy Service. Discuss the web sites and other methods used for researching financial policy questions or concerns. Review the points of contacts and how to submit questions and suggestions for changes to policy. Reviewing and Researching Financial Policy Overview
VA CFO Organization and Responsibilities VA OFP and APPS Organization and Responsibilities Evolution of the Financial Policy Process Financial Policy Volumes and Chapters Policy Research Considerations and Procedures Policy Research Websites Submission for Questions and Policy Change Requests VA Administration and Other Staff Office Contacts Reviewing and Researching Financial Policy Agenda
In accordance with Title 31 of the U.S. Code, Chapter 9 , Sections 901 and 902 (CFO Act of 1990), the VA Chief Financial Officer (CFO) is tasked with directing, managing, and providing policy guidance and oversight of the VA financial management personnel, activities, and operations. The authority also established an agency CFO. Reviewing and Researching Financial Policy VA CFO Organization and Responsibilities
38 USC Chapter 3 also grants the VA Secretary authority to designate the Assistant Secretary as the CFO of the Department. Reviewing and Researching Financial Policy VA CFO Organization and Responsibilities
Reviewing and Researching Financial Policy VA CFO Organization and Responsibilities
Reviewing and Researching Financial Policy VA OFP Organization and Responsibilities
Providing VA-wide financial policy and guidance, • Preparing VA’s annual Consolidated Financial Statements and other comprehensive financial reports as requested, • Working with the Office of the Inspector General’s independent contract auditors, • Assisting VA’s Office of Budget in incorporating statements and audit results in the Annual Performance and Accountability Report (PAR), and • Providing VA-wide customer support. • More information on OFP may be accessed through the VA Web site: http://www.va.gov/finance/policy/. Reviewing and Researching Financial Policy VA OFP Responsibilities
Reviewing and Researching Financial Policy OFP APPS Organization and Responsibilities
Developing, coordinating, issuing, evaluating, and reviewing VA financial, payroll, and travel policies and procedures, • Responding to policy inquiries and audit requests, • Reviewing and analyzing FMS transactions, • Assisting with passport applications and receipt, and • Assisting in the annual preparation of the Consolidated Financial Statement and independent audit. • More information on OFP APPS may be accessed through the VA web site, http://www.va.gov/finance/policy/aptps.asp Reviewing and Researching Financial Policy OFP APPS Organization and Responsibilities
What Public Law (Act) established the Chief Financial Officer position? • Government Performance and Results Act of 1993 • Budget Enforcement Act of 1990 • Chief Financial Officers Act of 1990 • Government Management Reform Act of 1994 Reviewing and Researching Financial Policy CFO AND OFP REVIEW
What are the duties for the Office of Financial Policy? Select all that apply. • Developing and maintaining financial policy • Developing procurement policy • Preparing and issuing VA’s Consolidated Financial Statements • Developing and maintaining cash and debt management polices • Reviewing and approving USSGL financial transactions Reviewing and Researching Financial Policy CFO AND OFP REVIEW
2006: Deloitte and Touche issued an audit finding. July 2008: VA CFO contracted with Grant Thornton to assist with financial policy updates, known as the Financial Policy Improvement Initiative (FPII). July 2008 – July 2011: The financial process developed to update the policies is refined over the course of three years. The Administrations and other Staff Offices buy-in to the process and become active members. July 2009: The first of the policies are published to the OFP Publications Library Web site. July 2011: The FPII process culminates in 169 financial policies being updated and published in 14 financial policy volumes. August 2011: The directives, handbooks, manuals, bulletins, and notices rescinded in the chapters are officially rescinded. October 2011: A new Financial Policy Steering Committee Charter is approved authorizing the continuation of the process. FY2012 and Beyond: OFP continues the FP process and annually reviews the FPSC Charter for changes. An FP Chapter Review Schedule is used to monitor new and existing chapters. Reviewing and Researching Financial Policy Evolution of the OFP Financial Policy (FP) Process
Establishes a buy-in and approval (partnership) from the lower to the upper level. It is a hands on approach at every level. Establishes a review process for all chapters regardless of whether they are new or revisions. Is governed by the FPSC Charter signed by all members and also contains the FPWG Rules of Engagement. The charter identifies the VA organizations and other staff office members and the roles for each group. Reduces the time to develop or revise a chapter rather than the extended time for directives or handbooks. Provides for new or updated policy notification through the FPSC and FPWG members and participants. Reviewing and Researching Financial Policy Financial Policy (FP) Process
APPS SMEs FPWG CFO FPSC Reviewing and Researching Financial Policy FP Process Flowchart 1. Chapter due for review or possible need for new policy or revision identified. 3. Request reviewed by FPWG for discussion and/or SME identification. Policy needed? Yes 2. Policy researched by OFP or other staff. All proposals are reviewed by OFP prior to FPWG review. 7. FPSC approved policy forwarded to CFO for approval & signature. No 5. Draft policy reviewed by FPWG for discussion & vote. 4. Main, OFP POC drafts new or revised policy and reviews with SMEs. Consensus reached. Identify where the new policy or change is written. Yes Approve Policy? 6. FPWG approved policy forwarded to FPSC for review, discussion & vote. Yes Yes No Approve policy? No Approve policy? Back to 5. No Back to 4. 8. CFO approved & signed policy published.
What are the FP levels from first review to approval? • FP Working Group, SMEs, FP Steering Committee, and CFO • SMEs, FP Working Group, FP Steering Committee, and CFO • FP Steering Committee, SMEs, CFO, and FP Working Group • SMEs, FP Working Group, CFO, and FP Steering Committee Reviewing and Researching Financial Policy FP Process Review
The FP Process does not establish a buy-in from all levels? True or False The CFO has final approval for issues that cannot be resolved at the other levels? True or False Reviewing and Researching Financial Policy FP Process Review
General Accounting Appropriations, Funds, & Related Information Miscellaneous Accounting Topics Revenue & Expenses Assets Liabilities Financial Reporting Cash Management [Placeholder for Future Volume] Grants Management Committee on Waivers & Compromises Debt Management Cost Accounting Travel Payroll Charge Card Programs Reviewing and Researching Financial Policy Financial Policy Volume’s Structure The spreadsheet with OFP Volumes and Chapters to Directives/Handbooks Matrix: is available in the VA Notice 11-04 which is hyperlinked on the VA OFP Volumes Web site, http://www.va.gov/finance/policy/pubs/. In addition to this matrix, a Cumulative Rescission Matrix is available on the OFP Volumes and Chapters website. This file identifies the Directives, Handbooks, Manuals, Bulletins, and Chapters that have been rescinded and merged to date.
Reviewing and Researching Financial Policy Volume I Chapters
Determine the basis for the question: Is it related to finance and accounting policy or is it a system or other procedural question? • Need assistance entering a transaction in IFCAP, CAATS, etc. • Need assistance on determining whether funds may be retained. Reviewing and Researching Financial Policy Policy Research Considerations
Review OFP, Administration, regional, and/or facility (station) policy and procedural materials, Use references and resources included in the Policy for additional research, to include Comptroller General (CG) decisions, Code of Federal Regulations (C.F.R.), and U.S. Code references, and Perform “site searches”. Reviewing and Researching Financial Policy Policy Research Procedures
Reviewing and Researching Financial Policy OFP Policy Research Example – OFP Site Search
Reviewing and Researching Financial Policy OFP Policy Research Example – OFP Site Search
Reviewing and Researching Financial Policy OFP Policy Research Example – OFP Site Search
Reviewing and Researching Financial Policy OFP Policy Research Example – OFP Site Search
Reviewing and Researching Financial Policy OFP Policy Research Example – OFP Site Search
Reviewing and Researching Financial Policy OFP Policy Research Example – OFP Site Search
Reviewing and Researching Financial Policy OFP Policy Research Example – VA Search
Reviewing and Researching Financial Policy OFP Policy Research Example – VA Search
Reviewing and Researching Financial Policy OFP Policy Research Example – VA Search
Reviewing and Researching Financial Policy OFP Policy Research Example – VA Search
Reviewing and Researching Financial Policy OFP Policy Research Example – FAQs
Reviewing and Researching Financial Policy OFP Policy Research Example – FAQs
VA OFP Website: http://www.va.gov/finance/policy/index.asp and http://vaww.va.gov/FINANCE/policy/index.asp (VA only) • VA OFP Publications: http://www.va.gov/finance/policy/pubs/ • VA Publications: http://www.va.gov/vapubs/ • VHA Policy Website: http://www.va.gov/vhapublications/ • VBA:http://www.benefits.va.gov/WARMS/Site_Map.asp • VA General Counsel Publications: (VA only) http://vaww.ogc.vaco.portal.va.gov/library/default.aspx. • VA OIG: http://www.va.gov/oig/publications/ • HR Policy: http://vaww1.va.gov/ohrm/HRLibrary/Dir-Policy.htm Reviewing and Researching Financial Policy VA Policy Research Web Sites
Federal Accounting Standards Advisory Board (FASAB): • http://www.fasab.gov/ • Government Accountability Office (GAO) Principles of Federal Appropriations Law (Redbook): • http://www.gao.gov/legal/redbook.html • GAO Legal Decisions, including Comptroller General Decisions: • http://www.gao.gov/legal/index.html • Government Printing Office Official Government Publications, e.g., Public Laws, U.S.C., C.F.R.: • http://www.gpo.gov/fdsys/search/home.action Reviewing and Researching Financial Policy Other Policy Research Web Sites
Determine the subject of the inquiry. • Financial/Accounting Policy • Technical Procedures, e.g., FMS, IFCAP, CAATS, FAP • Other Office Policy, e.g., Procurement, Acquisitions, Construction • Formulate the specific question with appropriate details and extenuating circumstances, and research or findings. Try to be specific, but concise. • Initially contact administration, regional, and/or local offices for assistance. Contact administration, regional, and/or facility technical and subject matter experts for particular procedure. Reviewing and Researching Financial Policy Submission of Policy Questions
Demonstrate your knowledge of using OFP Publications Library site search function. Using the url: http://www.va.gov/finance/policy/pubs/, what are two chapter(s) displayed for “awards.” • Vol I Ch 1, Introduction to VA’s Accounting Policies • Vol II Ch 2, VA’s Budget Cycle and Fund Symbols • Vol II Ch 4, Awards, Ceremonies, Food or Refreshments, Gifts or Mementos • Vol XV Ch 3 Payroll: Awards and Incentives Reviewing and Researching Financial Policy Policy Research Review
Demonstrate your knowledge of using the GAO Redbook. Using the url: http://www.gao.gov/legal/redbook.html, what section in Volume I is the main guidance for providing food for employees: • Chapter 4, Avail of Approp: Purpose, Section C. Specific Purpose Authorities and Limitations • Chapter 3, Agency Regulations and Admin Discretion, Section C. Administrative Discretion • Chapter 5, Avail of Approp: Time, Section B. Bona Fide Needs Rule Reviewing and Researching Financial Policy Policy Research Review
OFP policy change requests may be submitted for various reasons, to include, but not limited to: • A policy appears to be out of date based on recent legislation, GAO CG decision, etc. • A policy contradicts another policy. • You have a suggestion to streamline a process in a policy. • When these arise, an OFP Request for Policy Update form is the approved method of requesting a change or requesting a policy be reviewed. Reviewing and Researching Financial Policy Policy Change Requests
Complete the form and provide adequate justification and supporting documentation, as needed. • Send the request through your chain of command to your respective administration or other staff office finance office. For example, for the VA Administrations: • VA Medical Center to VISN to VHA CFO • VBA Director to RO to VBA CFO • NCA Director to MSN to NCA Finance Services to NCA CFO Reviewing and Researching Financial Policy Policy Change Requests
The Administration CFO or other staff office financial official will review and approve/disapprove the request. The approved request is submitted to OFP APS for review and recommendation. An approved recommendation will be placed into the policy review schedule based upon the priority. The Request for Policy Update form is located at, http://www.va.gov/finance/policy/accounting/. Reviewing and Researching Financial Policy Policy Change Requests
OFP Outlook contact: OFP Accounting Policy • VHA Outlook contact: VHA Accounting Policy (103A) • VBA Outlook contact: VAVBAWAS/CO/FINREP • NCA Finance Service: Ph# 540-658-7280 (Finance Group) • Other Contacts: http://www.va.gov/finance/policy/contacts.asp Reviewing and Researching Financial Policy VA Administration and Other Staff Office Contacts
In summary, we’ve discussed the following: • VA CFO Organization and authority to provide accounting and financial policy • Procedure used for VA OFP policy development or revision • Research considerations and some common webs sites • Administration and other staff office points of contact • Procedures to request policy assistance or to request a change in policy. Reviewing and Researching Financial Policy Summary
We can only perform functions/missions and spend funds in accordance with legislature or other regulatory guidance. If you have completed the research and you still question the propriety of purchasing or providing a product or service, it probably isn’t authorized. Reviewing and Researching Financial Policy Parting Thoughts