The Fed. Financial Management Improvement Act (FFMIA) of 1996 requires that agencies implement and maintain management systems that substantially comply with fed. financial management systems requirements. To assist in reviews of financial management systems under FFMIA, the author issued 3 checklists concurrently as practice aids. This checklist reflects the Joint Financial Management Improvement Program¿s ¿Framework for Federal Financial System Management Requirements.¿ Although the framework document is primarily a reference tool rather than a standard-setting document, it is intended to promote understanding of key financial management systems concepts and requirements, esp. as they relate to system integration.

The inability to produce the data needed to efficiently & effectively manage the day-to-day operations of the fed. gov¿t. & provide accountability to taxpayers historically has been a major weakness at most of the largest fed. agencies. The central challenge in generating such data is overhauling inadequate & outdated accounting & financial-related mgmt. information systems. This annual report addresses: (1) compliance of the Chief Financial Officers (CFO) Act agencies¿ financial systems with the requirements of the Fed. Financial Mgmt. Improvement Act of 1996 (FFMIA); (2) agencies¿ plans to bring their systems into compliance; & (3) other efforts to improve the government¿s financial mgmt. systems. Charts & tables.

Distributed to some depository libraries in microfiche.