Financial systems requirements set

Acquisition/Financial Systems Interface Requirements

A governmentwide organization has issued requirements for systems that support acquisition and financial management processes for federal agencies.

The document, "Acquisition/Financial Systems Interface Requirements," posted June 14, is the first time procurement and financial management officials have come together to create a common set of requirements for systems, said Karen Alderman, executive director of the Joint Financial Management Improvement Program. JFMIP is the governmentwide organization responsible for setting standards for agency financial-management systems, and it includes the General Accounting Office, the Office of Management and Budget, and the Treasury Department.

These kinds of requirements had never had been developed in a common way, she said, even though common information is necessary for both acquisition and financial management.

"The document provides a common reference to support federal agency efforts to improve financial management and acquisition systems and to comply with [the Federal Financial Management Improvement Act] and other relevant statutes," JFMIP officials said.

The document identifies the requirements that are necessary for a system to operate and comply with federal statutes, Alderman said.

Agencies must use these functional requirements, in addition to agency-unique mission requirements, in planning their financial management and acquisition system improvement projects, she said.

The publication of the document completes an 18-month effort that involved more then 60 senior-level acquisition and financial professionals from scores of federal agencies, she said.

The project was formally chartered by the Procurement Executive Council and the Chief Financial Officers Council and was led by Russ Ashworth, the Agriculture Department's senior procurement executive.

With the publication of the acquisition/financial systems document, JFMIP has published 10 of the 13 requirement documents. Requirements for dealing with nonincome tax revenues are in the works. Requirements for budget formulation and insurance claims are yet to be completed.

The requirement documents seek to synthesize what agencies need so that they have financial systems that meet federal laws.