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Shows & Panels
Federal chief financial officers have more foresight, insight and hindsight than ever before to make better decisions. But just as important as having these wide-ranging sight lines is how they are being translated down to the program level. Experts say agencies are slowly heading down the path of using data to make better decisions.
Linda Springer, former controller at the Office of Management and Budget, tells In Depth's Francis Rose why it's important for members across the C-Suite to work together.
An agency-by-agency guide to Obama's proposed budget for fiscal 2014
Pundits may question whether Congress should have approved $804 billion in stimulus money via the Recovery Act of 2009. But many in government have come to realize that the independent agency charged with overseeing how that money was spent -- the Recovery Accountability and Transparency Board -- has a lot to teach financial managers about ensuring transparency and rooting out waste in government spending.
The White House asked Congress for a $2 billion increase in federal technology funding for fiscal 2014. Federal CIO Steve VanRoekel said there is broad recognition that the time to invest in IT is now because of the long-term savings and benefits it can bring.
President Thomas Jefferson spoke of the impenetrable financial fog the federal government found itself under in 1802. Unfortunately, some things never change. Former Labor Department CFO Sam Mok says there are three steps the new director of the Office of Management and Budget should take to begin making a difference in this arena. Mok's column is part of Federal News Radio's special report, Rise of the Money People.
Nearly 23 years after the seminal CFO Act became law, agencies have met its spirit and intent, experts say. CFOs today quickly are becoming more than just number crunchers. They are now masters of data analytics aimed at improving agencies' missions.
As federal employees are furloughed, programs and contractors are cut, and agreement on future federal budgets appears remote, efficient management of the trillions of dollars it takes to operate the government is more important than ever. In Federal News Radio's on-air and online series, "Rise of the Money People: Financial management moves front and center as agencies make the final assault on wasted billions," we shine the light on chief financial officers and their soldiers in the financial wars, their strategies and tactics for waging the fight, the current and emerging weapons in their arsenal, and how their future battles will unfold.
Building on the foundation of the Accounting and Auditing Act of 1950, Congress has increased the oversight and transparency of government spending over the years.
President Barack Obama is calling for the implementation of the "chained Consumer Price Index" to measure inflation. The change will reduce cost-of-living adjustments for retired federal employees and Social Security recipients. The 2014 budget is officially scheduled for release on Wednesday.
The Office of Management and Budget has directed agencies to take full advantage of the funding flexibilities they have under law as they implement across-the-board sequestration cuts, that went into effect March 1. In an April 4 memo, OMB Controller Danny Werfel also directed agency and department leaders to be mindful of certain types of performance awards and to work with agency inspectors general before making cuts to IG offices.
Obama names senior economic aide to 2nd slot in White House budget office
Federal CIO Steve VanRoekel said the new process is centered around three concepts: the why, the what and the results. The White House also is consolidating 30 reporting requirements into three that will help agencies determine answers to the three questions. OMB also updated the goals under the data center consolidation initiative.
White House says 480 on president's budget staff receive furlough notices due to budget fight
Under the law, the President was supposed to submit a budget by Feb. 4. White House aides said deliberations over spending and sequestration in the past few months delayed the release of Obama's blueprint.
The Office of Management and Budget is telling agencies to stop building costly, agency-specific systems when they modernize their financial management systems. Instead, going forward, agencies must use a federal shared-services provider when updating their accounting systems, according to a new memo from OMB Controller Danny Werfel.
White House Press Secretary Jay Carney told reporters this week President Barack Obama has asked Acting OMB Director Jeff Zients to stay on until his successor is named. But for about the last six months, Zients was not the acting OMB director because his initial interim role quietly expired last year.
House Budget Committee Chairman Paul Ryan (R-Wis.) asked auditors to review five different areas of sequestration. The Government Accountability Office will examine the actual sequestration order, as well as the July 31 memo to agencies from the Office of Management and Budget. He also wants GAO to look at any supporting reports, regulations and orders for compliance with the Budget Control Act, the Balanced Budget and Emergency Deficit Control Act, and other relevant statutes.
Cyber coordinator Michael Daniel released updated goals for TIC, HSPD-12 and continuous monitoring on Performance.gov. He said by adding new goals to the portal, performance improvement officers will pay more attention and influence how agencies meet the targets.
A memo from Controller Danny Werfel requires agencies to submit a plan to maintain current total square footage for office and warehouse space. Agencies must offset any new growth by disposing of current leases.