[Federal Register: June 18, 2001 (Volume 66, Number 117)]
[Notices]
[Page 32823]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr18jn01-93]
[[Page 32823]]
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GENERAL ACCOUNTING OFFICE
[Document Nos. JFMIP-SR-01-2]
Joint Financial Management Improvement Program (JFMIP)--Federal
Financial Management System Requirements (FFMSR)
June 11, 2001.
AGENCY: Joint Financial Management Improvement Program (JFMIP).
ACTION: Notice of document availability.
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SUMMARY: The JFMIP is seeking public comment on exposure draft titled
JFMIP Core Financial System Requirements ``JFMIP-SR-01-02'', dated June
11, 2001. The exposure draft is being issued to update the February
1999 `` Core Financial System Requirements.'' The exposure draft
incorporates new JFMIP requirements for Core Financial Systems. They
are designed to provide financial managers with governmentwide
mandatory requirements for financial systems in order to process and
record financial events effectively and efficiently, and to provide
complete, timely, reliable, and consistent information for decision-
makers and the public.
DATES: Comments are due August 20, 2001.
ADDRESSES: Copies of the Core Financial System Requirements exposure
draft have been mailed to Agency Senior Financial Officials and are
available on the JFMIP website http://www.jfmip.gov. Comments should be
addressed to JFMIP, 1990 K Street NW, Suite 430, Washington, DC 20006.
FOR FURTHER INFORMATION CONTACT: Stephen R. Balsam, (202) 219-0531,
stephen.balsam@gsa.gov, regarding the Core Financial System
Requirements.
SUPPLEMENTAL INFORMATION: The Federal Financial Management Improvement
Act of 1996, (FFMIA), mandated that agencies implement and maintain
systems that comply substantially with Federal financial management
systems requirements, applicable Federal accounting standards, and the
U.S. Government Standard General Ledger at the transaction level. The
FFMIA statute codified the JFMIP financial systems requirements
documents as a key benchmark that agency systems must meet in order to
be substantially in compliance with systems requirements provisions
under FFMIA. To support the requirements outlined in FFMIA, we are
updating requirements documents that are obsolete and publishing
additional requirements documents.
The Core Financial System Requirements document establishes
standard requirements for the backbone modules of an agency's
integrated financial management system. The major functions supported
by a Core Financial System are: Core Financial System Management,
General Ledger Management, Funds Management, Payment Management,
Receipt Management, Cost Management, Technical and Reporting. These
eight functions provide common processing routines, support common data
for critical financial management functions affecting the entire
agency, and maintain the required financial data integrity control over
financial transactions, resource balances and other financial
management systems.
This update reflects the most recent changes in laws and
regulations, such as FACTS II, and clarifies previous requirements.
JFMIP's Knowledgebase website can be used to obtain an electronic copy
of the changes that have been made to the Core Financial System
Requirements document. The Knowledgebase can be accessed through the
JFMIP website http://www.jfmip.gov. The exposure draft contains only
mandatory requirements on which the vendor software certification test
will be based and value-added requirements for optional functionality.
Comments received will be reviewed and the exposure draft will be
revised as necessary. Publication of the final requirements will be
mailed to agency senior financial officials and will be available on
the JFMIP website.
Karen Cleary Alderman,
Executive Director, Joint Financial Management Improvement Program.
[FR Doc. 01-15256 Filed 6-15-01; 8:45 am]
BILLING CODE 1610-02-U