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Update on FMLoB

Update on FMLoB. Owen Barwell, DCFO US Department of Energy May 2009. What FMLoB is today. Provide timely and accurate data for decision making Implement internal controls for greater integrity Reduce costs through shared service solutions

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Update on FMLoB

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  1. Update on FMLoB Owen Barwell, DCFOUS Department of Energy May 2009

  2. What FMLoB is today • Provide timely and accurate data for decision making • Implement internal controls for greater integrity • Reduce costs through shared service solutions • Standardize systems, business processes, and data elements • Define a common language and structure for financial information

  3. We are not without our problems.. • Governance and cohesion of stakeholders • Complete vision and picture over the long run • Finishing what has been started • Standing up a program office • (Realistic) innovation

  4. …but progress has been made (1) Goal Develop a standard set of business processes for core financial management functions Status • Funds Management – published July 2008 • Payables Management – published July 2008 • Receivables Management – published December 2008 • Reimbursables • Exposure draft published March 2009 • Comments due May 1, 2009 • Reporting • Currently resolving exposure draft comments • Final document to be published July 2009

  5. …but progress has been made (2) GoalDevelop a common accounting classification structure • Common Government-wide Accounting Classification (CGAC) Structure • Document published in August 2007 • Agencies sharing their implementation plans with OMB and each other

  6. Transparency Cloud computing Web 2.0 Interaction and collaboration with the public Rapid solution deployment Reduce cost There’s a new sheriff in town!

  7. DecisionSupport FiscalControls DecisionSupport Financial Reporting Fiscal Controls Financial Reporting Transaction Processing Transaction Processing A-76 MEO Our changing footprint

  8. More stuff happens Effort/FTEs 1000 Today’s workload ~ 850 Today’s FTEs 600 Available after retirement 5 yrs Time Hypothesis is reality

  9. Billion Energy efficiency andrenewable energy $16.8 Environmentalmanagement $6.0 Smart Grid &related programs $4.5 Fossil energy R&D $3.4 Science $1.6 ARPA-E $0.4 Loan guarantees $6.0 TOTAL for Energy $38.7 The ARRA as game changer

  10. Forecast* • Strategy • Financial reporting • Cost accounting • People * Share prices can go down as well as up

  11. More information? FSIO and FMLoB documents on the website, www.fsio.gov Owen Barwell, Chair, Financial Systems Transformation Team, DCFO at DOE 202-486-4171 owen.barwell@hq.doe.gov

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