The Office of Federal Financial Management (OFFM) is a component of the

United States Office of Management and Budget The Office of Management and Budget (OMB) is the largest office within the Executive Office of the President of the United States (EOP). OMB's most prominent function is to produce the president's budget, but it also examines agency programs, pol ...

(OMB), which is part of the Executive Office of the President of the United States (EOP). The President of the United States appoints the controller, who serves as the chief officer of OFFM. The current acting OFFM Controller is John C. Pasquantino.

Organization

OFFM is made up of two branches: the Management Controls and Assistance Branch and the Accountability, Performance and Reporting Branch.

Mission and responsibilities

OFFM's mission is to support the effective and transparent use of Federal financial resources. OFFM's responsibilities includes implementing the financial management priorities of the President, establishing government-wide financial management policies of executive agencies and carrying out the financial management functions of the CFO Act of 1990. OFFM's priorities include transparency and data management, shared services, real property, improper payments, grants management, internal control, federal financial reporting, debt collection and charge cards.

History

OFFM was established by the

Chief Financial Officers Act The Chief Financial Officers (CFO) Act of 1990 (Public Law 101–576) signed into law by President George H. W. Bush on November 15, 1990, is a United States federal law intended to improve the government's financial management, outlining standards ...

(CFO Act) of 1990.

External links

* United States Office of Management and Budget Finance in the United States 1990 establishments in the United States {{US-gov-stub