This presentation was made by Amy Edwards, United States Treasury, at the 19th OECD Senior Financial Management and Reporting Officials Symposium held at the OECD Conference Centre, Paris, on 4-5 March 2019

1. 1
The Future of Federal
Financial Management
Amy B. Edwards
U.S. Department of the Treasury
fmvision.fiscal.treasury.gov

2. The American citizen expects that:
1. the government is an efficient steward of
its financial resources;
2. the financial information provided by the
government is accurate;
3. their financial interactions with the
government are modern, seamless and
secure.
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3. CFO Refocus
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A New Role for Agency Chief Financial Officers (CFO)
SOURCE: “Annual CFO Survey: Navigating Disruption,” Association of Government Accountants, January 2018.
CFO Survey: Current Responsibilities
3
Financial Reporting
Financial Accounting Operations
Financial Systems
87%
75%
82%
 Thought leadership
 Data analytics
 Performance monitoring and management
From Financial Transaction Processing
To Strategic Partner
Budget Formulation 75%
Budget Execution 74%

4. 4
Core Budget &
Accounting
Operations
Communicating
Results
Strategic
Planning &
Mission
Support
Financial &
Regulatory
Controls
Data
Management
& Analytics
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2
3
4
5
Government Chief Financial Officers are harnessing
program and cost data to support agencies in achieving
their missions.
Levels of a 21st Century Federal Finance Organization—Maturity Model
Toward Data-Driven Decision Making
A Focus on Data

5. Value Proposition: The Why
Improved Financial
Services
By focusing on standardized,
government-wide solutions, it is
possible to provide better
outcomes compared to
narrowly-tailored, one-off
solutions.
CFO Strategic Focus
By centralizing financial
management functions,
agencies can better focus on
the strategic matters, especially
relating to their core missions.
Cost Savings
By eliminating redundant and
outdated solutions in favor of a
more limited number of
solutions that work
government-wide, agency
costs can be dramatically
lowered.
To improve services, allow CFO strategic focus, and reduce the
estimated $11 billion annual expense of government financial
management operations.
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6. 6
Optimize Federal Disbursing
Transform Federal Collections
Strengthen Financial Reporting
Expand Services Available to Agencies
Cost Savings
Improved Service
Agency Focus
Translating the Vision into Action
FOCUS ON FOUR KEY PROCESSES
Standardize > Consolidate > Automate

7. • Launched USAspending.gov in 2018
• Online Guide to Federal Finances in 2019
• Pilot a Trial-Balance Audit with Government-
wide Data in 2020
• Developing a Data Strategy to Inform
Decision-Making
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Strengthen Financial Reporting

8. USAspending.gov
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9. Online Guide to Federal Finances
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