January 9, 2009
TO THE HEADS OF EXECUTIVE DEPARTMENTS AND ESTABLISHMENTS
SUBJECT: Financial Management Systems
OMB Circular A-127 prescribes policies and standards for executive departments and agencies to follow when managing their financial management systems. Revisions include incorporating new requirements for agencies to adopt standard financial business practices to use financial management shared service providers to implement and maintain their core financial system. Further, pursuant to the Federal Financial Management Improvement Act of 1996 (FFMIA), Public Law 104-208, Title VIII (31 U.S.C. 3512 note), the Circular now includes and clarifies the guidance for reporting substantial compliance with this law.
This Circular replaces and rescinds all previously issued OMB Circular A-127 dated July 23, 1993, June 10, 1999, and December 1, 2004. All significant changes are summarized in the first page of the Circular. This revision of Circular A-127 is effective October 2009. However, early implementation is encouraged.
A revised version of the entire Circular is available on the OMB web site. All questions or inquiries concerning Circular A-127 should be addressed to the Office of Federal Financial Management, Financial Analysis and Systems Branch, (202) 395-3993.