Financial Management and Budget Standardization

Questions

Question: When will OMB issue the IAA Implementation Memorandum
Answer: OMB has not issued an IAA Implementation Memorandum to date. However, FMS continues to partner with OMB and recommends that agencies begin to adopt the IAA in order to better help manage their reimbursable activity and elimination reconciliation efforts. Please see the Intragovernmental Business Rules in the Treasury Financial Manual (TFM) TFM: Volume I, Part 2, Chapter 4700, Appendix 10 for the current IAA guidance.

Question: Is there any Governmentwide training scheduled:
Answer: FMS is available for agency specific IAA training and to help with facilitating IAA implementation and reconciliation between trading partners. FMS requires a person to coordinate these trainings at the agency. As the agency coordinator, you should reach out to include all populations that process reimbursable activity, including: Finance, Acquisition, Budget, Program, IT, Legal, etc. You will also need to get the training facility, make sure that a laptop and projector are available and set up and provide copies of the training documents.

We look forward to working with you to implement the IAA and help with updating your reconciliation business practices with your trading partners