FedCFO Search Engine

@FedCFO Twitter Feed

Thursday, October 27, 2011

GFEBS financial management system worldwide

Washington, D.C. — The most advanced financial management system in Army history, the General Fund Enterprise Business System, or GFEBS, is now operational worldwide.

The GFEBS now has nearly 40,000 users across all service components, and is the most widely implemented of the Army’s Enterprise Resource Planning systems. It’s expected when fully deployed, sometime in Fiscal Year 2012, GFEBS will engage close to 60,000 users at some 200 locations worldwide and will affect almost every Army organization and function.

The GFEBS records financial transactions with supporting documentation, tracks transactions to the detailed level, and will produce an auditable trial balance. The Army Audit Agency’s most recent evaluation found that GFEBS complies with 1,054 of 1,113 requirements from the Federal Financial Management Improvement Act. On-going development of GFEBS will complete the remaining 5 percent for full compliance in FY 2012.

GFEBS received a full deployment decision June 24 from Department of Defense Deputy Chief Management Officer Elizabeth McGrath, the program’s milestone decision authority. The decision affirmed the deployment readiness of the GFEBS solution and authorized Armywide system implementation.

The GFEBS deployment is scheduled to conclude in 2012, providing a core system for managing a significant portion of the Army’s general fund and ushering in a new era in Army financial management.

-Frank Distasio, Army News Service

No comments: