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Friday, March 19, 2010

OMB shutting down financial systems office

The Financial Systems Integration Office is shutting down in two weeks.

The Office of Management and Budget decided FSIO met its goals of creating business process and data standards for the Financial Management Line of Business, and finished its last update of the Core Financial Systems Requirements and therefore is no longer needed.

Danny Werfel, OMB's controller, says in a memo to agency chief financial officers that OMB and the General Services Administration have agreed that FSIO will cease operations by March 31.

FSIO will issue the final set of Core Financial Systems Requirements and will publish use cases for standard business processes by March 31.

Industry sources say there were some rumors FSIO would be moving to the Treasury Department.

Werfel addressed those rumors during a recent interview with Federal News Radio, saying at the time no decision had been made.

GSA created FSIO out of the Joint Financial Management Improvement Program (JFMIP) in December 2004. Since then, it led the work to standardize the business processes around financial management so agencies could more easily migrate to FM LOB shared service providers.

FSIO will be hosting its annual federal financial management conference in Washington March 23.

-Jason Miller, FederalNewsRadio.com

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