Office of Finance

Mission

The Office of Finance (OF) primary mission is to provide financial management leadership to the Secretary through the Assistant Secretary for Budget, Technology and Finance/Chief Financial Officer and the Operating Division CFOs. Finance manages, directs, coordinates and provides support for all financial management activities across the Department. OF develops department-wide policies and standards for financial and mixed financial systems including participation as a Strategic Partner in the Capital Planning and Investment Control process and development of business cases for departmental financial efforts. OF is also currently implementing the Unified Financial Management System (UFMS), replacing the Department's five legacy systems. UFMS is a business management tool that will provide relevant, reliable and timely information to improve the efficiency and effectiveness of financial business and operational functions. OF serves as departmental liaison with the central agencies on all financial matters. Finance also manages and directs implementation of the requirements of major financial management legislation including the CFO Act, the Government Management Reform Act (GMRA), the Anti-Deficiency Act, the Debt Collection Improvement Act (DCIA), the Federal Managers Financial Integrity Act (FMFIA), the Federal Financial Management Improvement Act (FFMIA) and the Improper Payments Information Act (IPIA).

OF develops Department-wide accounting and financial management policies and standards in conformance with the Federal Accounting Standards Advisory Board (FASAB) government-wide accounting standards and other central agency guidance. OF coordinates the preparation and audit of OPDIV-level financial statements and manages the preparation and audit of the departmental financial statements. Finance also prepares the Department's annual Performance and Accountability Report (PAR). The PAR is similar to private sector annual reports to the stockholders or state governments' Comprehensive Annual Financial Reports (CAFRs). It is the Department's most comprehensive report on HHS operations, programs, finances, and performance. The PAR includes the HHS annual financial statements and auditor's opinion, as well as the Department's report on performance, as required by the Government Performance and Results Act (GPRA).

For the cost policy function, OF oversees the Operating Divisions (OPDIVs) and coordinates with OMB and other central agencies and the HHS regional Divisions of Cost Allocation on cost issues related to federal financial assistance recipients under HHS programs including state and local governments, colleges and universities and other non-profits.

Last revised: August 30, 2004

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