FY 2000
Budget Justification/Performance Plan
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U.S. Office of Personnel
Management FY 2000 |
(Administrative Services - EX SRV continued) |
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| Additional Information Available on the Next Page |  |
| OFFICE OF THE CHIEF FINANCIAL OFFICER |
The Chief Financial Officer is responsible for all financial management activities relating to OPM's programs and operations in compliance with the Chief Financial Officers Act, Public Law 101-576 and must ensure OPM’s financial operations, systems, reports and statements comply with the Government Management Reform Act, Government Performance and Results Act, Federal Managers Financial Integrity Act, Debt Collection Improvement Act, and the Federal Financial Management Improvement Act. The Office of the Chief Financial Officer (OCFO) develops and maintains an integrated accounting and financial management system; ensures that program information systems provide reliable, consistent and timely financial and program data; manages the budgeting and expenditure of OPM resources including the preparation of external budget and performance information for OMB and Congress; performs debt management; and prepares agency financial statements, reports and plans for the administrative and earned-benefits programs.
ANNUAL PERFORMANCE GOALS FOR FY 2000
| OPM STRATEGIC PLAN : Financial Mangement Strategy Note: OPM’s Strategic Plan includes a special Financial Management Systems Strategy section outlining the goal and objectives for the Financial Management System (FMS) and Employee Benefits System (EBS). Both the Office of the Chief Financial Officer and the Retirement and Insurance Service have set FY 1999 and FY 2000 annual performance goals that are designed to bring about the achievement of the goal and objectives set out in the Strategic Plan. (See Retirement and Insurance Service Goal 5) |
| OCFO Goal 1: FY 1999/2000 |
Material weaknesses are resolved and the Financial Management System, the Employee Benefits System, and internal controls are improved in order to maintain the integrity of the earned employee benefits trust funds (totaling more than $60 billion in annual benefit payments) and OPM’s appropriated and reimbursable funds. |
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Generate auditable financial statements and receive unqualified audit opinions. | ||||||||||||||||||||||||||||||
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Ensure substantial compliance of the financial systems with the Federal Financial Management Improvement Act of l996. | |||||||||||||||||||||||||||||||
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Implement and maintain current documentation of our policies, processes and procedures. | |||||||||||||||||||||||||||||||
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Maintain close, detailed administration of the Revolving Fund to ensure full cost recovery and solvency. | |||||||||||||||||||||||||||||||
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Improve the debt collection process and be in full compliance with the Debt Collection Improvement Act. | |||||||||||||||||||||||||||||||
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Improve the timeliness of all payments, those subject to the Prompt Pay Act as well as those to government agencies. | |||||||||||||||||||||||||||||||
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Decrease administrative accounts receivable delinquency by improving the billing, charge-back and collection processes by working in partnership with program managers, and by encouraging the use of credit cards and electronic payments. | |||||||||||||||||||||||||||||||
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Ensure effective cash management and control. | |||||||||||||||||||||||||||||||
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Continue to improve OPM's Financial Management System by expanding the electronic interchange of data with OPM program systems and external parties. | |||||||||||||||||||||||||||||||
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Allow electronic document approval for travel-related documents. | |||||||||||||||||||||||||||||||
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Implement timely and cost-effective improvements to our financial systems/sub-systems such as the FACTS II capability. | |||||||||||||||||||||||||||||||
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Enhance the property management module in the Financial Management System. | |||||||||||||||||||||||||||||||
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Encourage the increased use of the Employee Express System that allows employees to update payroll information electronically. | |||||||||||||||||||||||||||||||
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Issue guidance and monitor the administration of OPM’s Federal Managers Financial Integrity Act (FMFIA) program requirements. Prepare the Director's Annual Assurance Letter to the President and Congress on time and in accordance with FMFIA requirements. | |||||||||||||||||||||||||||||||
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Provide oversight to ensure the adequacy of management controls which safeguard assets and ensure accurate financial reporting. Coordinate with OPM programs, Inspector General, and OMB to execute corrective action plans that eliminate risk areas. | |||||||||||||||||||||||||||||||
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Prepare the Financial Management Status Report and Five-Year Plan for the agency Director and OMB in compliance with the CFO Act. | |||||||||||||||||||||||||||||||
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Improved accounting:
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Material weaknesses are eliminated. FY 1998: Improved on the implementation of the Debt Collection Improvement Act both by improving the process of referring delinquent accounts to the Department of the Treasury and by increasing the amount referred. FY 1998: Selected a new credit card company for travel and purchase cards and streamlined the procedures for using the cards. FY 1998: Completed, in a joint effort with the Office of Contracting and Administrative Services, the comprehensive inventory and re-valuation of all property assets capitalized at a unit cost of $10,000 and above. Also implemented the electronic interface between the Property Management Information System (PMIS) and the Financial Management System. FY 1998: Completed documentation of the policies and procedures for accounts receivable and accounts payable. FY 1999: Continue teamwork with the Department of Treasury’s Financial Management Service to review, re-engineer and document financial policies, processes and procedures. |
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Financial condition (health) of our programs, gauged through frequent analysis. | |||||||||||||||||||||||||||||||
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Improved
Inspector General, Independent Public Accountant (IPA) and GAO audit results. FY 1998: Prepared the FY l997 financial statements for all OPM accounts by the statutory due date of March l, 1998. FY 1999: Prepare the agency’s first accountability report including financial statements for all OPM accounts. FY 1998: Completed the implementation of an upgrade to OPM’s accounting system. |
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Additional Information Available on the Next Page
Web Page Created 14 May 1999