4. Developing and Maintaining Multi-Year Assessment Plan

Management System: Budget and Financial Management

Subject Area: Evaluation and Review of Financial Management

Procedure 4. Developing and Maintaining Multi-Year Assessment Plan

Subject Matter Expert: DEBRA SOLMONSON
Management System Owner: JUDY PENRY
Secondary Management System Owner: MARY SUNDERLAND
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Issue Date:  10/07/2011
SCMS Revision:  4.0

1.0  Applicability

This procedure applies to Office of Science (SC) Field Office Chief Financial Officer (CFO) Staff and SC Site Office Staff who have development and/or approval responsibility for contractors’ Multi‑Year Assessment Plans.

2.0  Required Procedure

This procedure provides the steps to develop and maintain a three‑year contractor financial management assessment plan. The plan identifies areas planned for assessment to ensure complete oversight of all contractor financial management functions on a scheduled basis and to balance and focus limited resources on the areas with the highest vulnerability. The plan identifies specific elements to be assessed, schedule, and method of accomplishment for the fiscal year beginning in October. Financial management oversight plans will be incorporated into the Integrated Assessment Schedule (IAS) as per requirements contained in the SC Management System Description: Quality Assurance and Oversight and its subject areas.

Step 1

In May of each year, the SC Integrated Support Center (ISC) CFO (i.e., the Chicago [SC‑CH] CFO or the Oak Ridge [SC‑OR] CFO) identifies financial management activities for each contractor to be assessed over a three‑year period, ensuring that all major elements of financial management are covered on a rotating basis.
Step 2

The SC ISC CFO Points of Contact (POCs) determine the frequency and method for assessing each element based on risk, governing requirements, known or anticipated external reviews, internal audit plans, and other relevant factors.

NOTE: See Oversight Tools for a listing of assessment tools.
Step 3 The SC ISC CFO POCs prepare a draft rolling three‑year plan and general schedule, incorporating each assessment activity, including known external reviews.
Step 4 For the fiscal year beginning in October, the SC ISC CFO POCs expand the plans and schedules to include specific reviews, methods of accomplishment, and dates. The SC ISC POCs coordinate the three‑year plans and schedules for each contractor with the SC Site Office to ensure appropriate coverage and to avoid gaps in areas assessed or duplication of effort.
Step 5 The cognizant SC ISC CFO approves each assessment plan by August 31 of each year and transmits to the contractor by the contracting officer/contracting officer representative prior to the beginning of each fiscal year.
Step 6 The cognizant SC ISC CFO's staff conducts assessments in accordance with the approved plan and schedule and documents results as each element is completed.
Step 7 The cognizant SC ISC CFO ensures that assessments are entered and tracked in an action tracking system (e.g., ORION 3).
Step 8

The cognizant SC ISC CFO ensures all assessment findings are tracked and closed.

NOTE: See Process Flow, Tracking and Closing Audit/Review Findings for instructions.
Step 9

At the end of each fiscal year, the cognizant SC ISC CFO prepares a consolidated report of assessments planned and conducted, as well as a summary and status of findings. This report is presented to the SC Site Office and SC ISC Managers and the SC Deputy Director for Field Operations (SC‑3).

NOTE: The Multi‑Year Assessment Plan is under change control and can only be modified if authorized by the cognizant approving SC ISC CFO. A change can be initiated by any party involved in the assessment process but must be requested in writing to the cognizant SC ISC CFO who must document his or her decision for distribution to involved parties.

3.0  References

This is the online OFFICIAL SCMS COPY of this file. Before using a printed copy, verify that it is the most current version by checking the Last Major Revision and Last Minor Revision dates (at the bottom of each document) on the SCMS Web site.

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Filename: \ORBIT\OrbitSearch\SubjArea\EAR\EAR_Pro4.cfm
Last Major SCMS Revision: 10/07/2011