Office of Federal Financial Management

Office of Federal Financial Management

Office of Federal Financial Management
Agency overview
Formed 1990
Preceding Agency Office of Management and Budget
Headquarters New Executive Office Building
Parent agency Executive Office of the President of the United States
Website Office of Federal Financial Management

The Office of Federal Financial Management (OFFM) is a component of the United States Office of Management and Budget (OMB). The Office of Management and Budget is an entity 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 OFFM Controller is David Mader.

Organization

OFFM is split into two branches: the Management Controls and Assistance Branch and the Accountability, Performance and Reporting Branch. These two branches collaborate to execute OFFM's mission and responsibilities.

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.

Some of 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 of 1990 (CFO Act), which President George H.W. Bush signed into law in 1990.

External links

  • Office of Federal Financial Management (official website)