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Thursday, December 08, 2005

OMB to guide agencies on financial management LOB

The Office of Management and Budget will furnish guidance by the end of this month or in early January 2006 to help agencies determine how they should select a federal provider of financial-management services, an Office of Management and Budget official said yesterday.

The guidance aims to encourage agencies to participate in the financial management Line of Business initiative. Under the Lines of Business Consolidation initiative, when agencies have to replace existing financial systems they would be required to consider federal and industry financial-management centers of excellence.

OMB has designated four agencies as financial-management centers of excellence: the General Services Administration, the Transportation Department, the Interior Department's National Business Center and the Treasury Department's Bureau of the Public Debt.

The guidance will advise agencies on how to structure a request for proposals to allow competition on a level playing field between private and public offerors.

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