Financial systems requirements set

A governmentwide organization recently issued requirements agencies must follow for systems that support acquisition and financial management processes.

The document, "Acquisition/Financial Systems Interface Requirements," posted June 14, represents the first time procurement and financial management officials have come together to create a set of requirements for systems, said Karen Alderman, executive director of the Joint Financial Management Improvement Program.

JFMIP, the organization responsible for setting standards for agency financial management systems, is a joint undertaking of the General Accounting Office, the Office of Management and Budget, the Office of Personnel Management and the Treasury Department.

Such requirements had never been developed in a common way, Alderman 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," according to JFMIP officials.

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

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

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