SECTION 1. PURPOSE.

.01 This Order prescribes the organization and functions of the Office of Financial Management (OFM). (The position of Director for Financial Management and Deputy Chief Financial Officer is authorized in DOO 10-5.)

.02 This revision changes the title of the Director for Financial Management to the Director for Financial Management and Deputy Chief Financial Officer (Director and Deputy CFO).

SECTION 2. STATUS AND LINE OF AUTHORITY.

The Office of Financial Management, a Departmental office, is headed by the Director and Deputy CFO, who reports and is responsible to the Chief Financial Officer and Assistant Secretary for Administration (the Assistant Secretary).

SECTION 3. AUTHORITY AND FUNCTIONS.

.01 Pursuant to the authority vested in the Assistant Secretary in Department Organization Order 10-5, and subject to such policies and directives as the Assistant Secretary may prescribe, the Director and Deputy CFO is hereby delegated the following authorities and functions:

a. In consultation with the Assistant Secretary, serve as the supervisor of record for a critical element entitled "Financial Operations and Management" which focuses on support of Department- and government-wide goals, and accounts for 25 percent of the bureau CFOs' annual performance plan. (Financial issues internal to the bureau, and other administrative matters, remain the affirmative management responsibility of the bureau supervisor of record to the individual CFO.)

b. Ensure Department compliance with all laws, regulations, standards and guidelines regarding financial, accounting, and fiscal management, including the Chief Financial Officers= Act, the Government Management Reform Act, the Federal Financial Management Improvement Act, the Federal Managers' Financial Integrity Act and, in conjunction with the Office of Budget and the Office of the General Counsel, the Anti-Deficiency Act and the Government Performance and Results Act.

c.         Oversee financial management activities relating to the programs and operations of the Department.

d.         Develop and implement policies and procedures for Department financial management and accounting requirements.

e.         Develop and maintain an integrated Department accounting and financial management system, including financial reporting and financial internal controls which comply with applicable accounting principles, standards and requirements, and financial internal control standards.

f.          Provide policy guidance and oversight of Department financial management personnel, activities, and operations.

g.         Direct and manage projects for the development and maintenance of the Department=s financial management systems.

h.         Review the fees, royalties, rents and other charges imposed by the Department for its services and make recommendations on revising those charges consistent with proper cost and financial principles.

i.          Provide financial management and accounting consultative services to Department officials.

j.          Perform liaison with all central agencies and other Cabinet Departments on matters affecting its assigned functions.

k.         Manage and administer the Working Capital Fund, Departmental Management's Salaries and Expenses Appropriation, the Advances and Reimbursements Account and other resources, and provide related services to designated units.  Monitor the Departmental gifts and bequests (G&B) activities.

l.          Oversee the Department's assessment of internal controls over financial reporting.

.02       The Director and Deputy CFO may redelegate the authorities of this section within OFM.

SECTION 4.  ORGANIZATION.

.01       The Office of Financial Management Systems is responsible for planning and managing the development and implementation of the Commerce Business Systems (CBS).  The office provides day-to-day management of the CBS projects.  It is responsible for coordination with system users of all CBS component systems development and implementation efforts and their integration with the core financial system.  It provides systems analysis, definition, design, development, testing, integration, technical support, and oversight of all CBS development and deployment activities.  The office manages the Department's CBS budgetary resources, and maintains the software for CBS.  It is also responsible for coordinating the preparation of Department-wide financial management reports and budget exhibits for inclusion in annual budget submissions and Information Technology Plans.  The office also maintains a Department-wide financial systems inventory.

.02       The Office of Financial Reporting and Policy is responsible for planning and coordinating the preparation of quarterly and annual Departmental financial reports (e.g., Prompt Payment, Cash Management, Debt Management, Treasury Reports, and Financial Statements); the planning of and reporting on Department-wide financial management programs; and preparing special financial management reports in response to the Office of Management and Budget (OMB), Treasury, Congress and other issues.  The office is responsible for formulating and prescribing Department-wide financial management, accounting and fiscal policies, procedures, standards and controls, and for providing assistance to Departmental components in their implementation.  This includes the development, issuance, and maintenance of all financial manuals, handbooks, and related directives.  It is also responsible for performing analysis and evaluations of Departmental financial management programs and data to identify issues, trends, and improvement opportunities; gathering information needed to prepare required reports or to perform special projects; and planning and carrying out financial quality assurance initiatives to include a financial performance measurements program. 

.03       The Office of Internal Controls is responsible for overseeing the Department's assessment of internal controls over financial reporting, including the development of the assessment plan, evaluation of internal control risk, testing of internal controls, and tracking the status of corrective actions for internal control findings.  The office is responsible for coordinating with the Office of the Inspector General in planning required annual financial statement audits, assisting finance offices in responding to financial statement audit reports, preparing audit action plans, and tracking the status of management actions on financial statement audit reports. 

.04       The Office of Executive Budgeting is responsible for formulating and reviewing budget
estimates for the Working Capital Fund, Departmental Management's Salaries and Expenses Appropriation, Advances and Reimbursements Account, and other accounts; serves as the Office of the Secretary budget officer and liaison to the Departmental Office of Budget in representing those accounts; and provides related services to the Office of the Secretary and designated operating units.  It also oversees the execution of budgets in those accounts and monitors the Departmental Gifts and Bequests account activities.

SECTION 5.  EFFECT ON OTHER ORDERS.

This Order supersedes Department Organization Order 20-27, dated August 2010.

Signed by: Chief Financial Officer and Assistant Secretary for Administration