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Financial Management Systems: Core Financial Systems at the 24 Chief Financial Officers Act Agencies

GAO-03-903R Published: Jun 27, 2003. Publicly Released: Jun 27, 2003.
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Highlights

GAO was asked to identify the core financial systems used at each of the CFO Act agencies as of September 30, 2002, and the status of any agency plans to update core financial systems. Core financial systems, as defined by the Joint Financial Management Improvement Program, include managing general ledger, funding, payments, receivables, and certain basic cost functions. The core financial systems receive data from other financial and feeder systems, such as acquisition, grant, and personnel systems, as well as from direct user input, and provide data for financial performance measurement and analysis and for financial statement preparation.

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Congressional oversightFinancial managementFinancial management systemsFinancial statement auditsFinancial statementsInternal controlsStrategic planningFinancial systemsCommercial off the shelfAccounting systems