AGA Comments on Federal Financial Management Structure

AGA's Financial Management Standards Board (FMSB) sent comments on the exposure draft about the Federal Financial Management Common Government-wide Accounting Classification Structure (CGAC structure) issued by the Financial Systems Integration Office (FSIO). The FMSB stated that it "agreed with the concept of standardizing the CGAC structure because it will foster universal understanding among users; ease transition to new systems and software; and aid in aggregation and comparison of data across the government."

The Jan. 19 letter went on to say, "Overall, the committee and their support contractors have done an excellent job in identifying current data inconsistencies in financial systems and have proposed an excellent set of suggestions for standardizing what can be standardized in financial systems." —FMSB. Read the entire letter or view the CGAC Comment Template.

FederalNewsRadio - Federal Financial Report - CGAC

A big step toward getting the entire government's books to make sense. The Office of Management and Budget has released a draft of a common, governmentwide accounting classification structure. Government Computer News reports it'll eventually be incorporated into core financial management systems, so that when an agency makes upgrades or moves to a shared-services provider, the new software can be configured accordingly. Comments on the draft are due in mid-January for a discussion session a month later.