FAM No. 2003-15 (Financial Performance Metrics)
July 01, 2003
FINANCIAL ADMINISTRATION MEMORANDUM NO. 2003-015 (II.J.1.)
To: Bureau Assistant Directors, Administration
Chief Executive Officer, National Business Center
Bureau Finance Officers
Finance Officer, Financial Management Services
Director, Office of Acquisition and Property Management
From: William E. Webber, Office of Financial Management /s/
Focus Leader, Asset and Debt Management
Subject: Financial Performance Metrics
The purpose of the FAM is to summarize and implement the integrated financial
performance metrics necessary for Office of Management and Budget (OMB),
Treasury, and internal reporting requirements. Attached is a table that provides
the indicators, measures, objectives, data sources, Office of Financial
Management (PFM) staff contacts, and reporting frequency (includes due dates) by
functional area. Where a totally new requirement is being established for
reporting by the bureaus, a format is attached. Also, for convenience a one-page
quick reference guide is attached and is put in monthly and quarterly
chronological order. All financial performance reports currently being submitted
to PFM will continue in their present formats except the monthly debt management
report, which is hereby rescinded.
It should be noted that before the measures were determined, the Performance
Team (under the Financial Officers’ Partnership) reviewed existing performance
measures of Interior, financial performance measures of Agriculture, and the
government wide performance measures now required by OMB. The measures were
chosen to demonstrate whether bureau finance operations are “healthy”; if not,
the measures will indicate which areas require closer management attention. In
addition, we all know that achieving and maintaining an unqualified audit
opinion requires commitment and hard work. The attached performance measures
will help us ensure that we are complying with financial-related laws and
regulations.
Implementation of these measures will begin with the quarter ending June 30,
2003, using the due dates indicated in the attachments. Please follow the
prescribed formats. Electronic report submissions are encouraged. All bureaus
need to take the necessary steps to ensure that the required measures are
reported accurately and timely to PFM. If you have any questions regarding this
FAM, please contact me at (202) 208-5684.
Attachments (See FAM 2006-04 for updates)
Prior Financial Administration Memorandums on this subject:
None
