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DOT Home > Office
of the Chief Financial Officer > Goals
OFM has identified six overall goals for ensuring that our financial
management systems provide DOT managers with timely, accurate, and useful information.
These overall goals are:
- Replacing expensive legacy financial systems with modern, cost-effective
systems
- Integrating financial systems
- Consolidating financial systems and functions where appropriate
- Avoiding duplicate and manual input of data
- Disseminating accurate, timely, and useful information/reports
- Reducing costs
OFM uses several operational parameters to guide us in implementing
our goals such as:
- Disseminating information through management and user groups,
including sharing the goals and activities of external groups such as Joint Financial
Management Improvement Program (JFMIP), OMB, Chief Financial Officer (CFO) Council,
and the Chief Information Officer (CIO) Council
- Budget and performance integration: Government Performance Results
Act (GPRA), financial scorecard, and the Performance and Accountability Report
- Financial audits: Financial statements, Federal Financial Management
Improvement Act (FFMIA) and Federal Managers’ Financial Integrity Act (FMFIA)
- Intergovernmental eliminations
- Erroneous payments and recovery audits
- Other areas reflective of the PMA
Improvements in DOT’s financial management performance will
also be reflected in our reporting under the Government Performance Results Act
(GPRA).
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