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Improving Financial Performance
A Message About Improving Financial Performance From Danny Werfel
From Bookkeeping to Results
November 3, 2008 - A reliable and timely set of financial records are a critical component of an effectively functioning Federal agency. Good bookkeeping demonstrates that the necessary disciplines are in place to track taxpayer dollars, mitigate waste and error, and provide meaningful public reports on the nation’s finances, including what we own and what we owe. But good bookkeeping alone does not yield better performance. Federal agencies must use the information to make smarter decisions about how we manage the government’s resources. The Federal Real Property Asset Management Initiative exemplifies this principle. View more here

Where's My Money Going?

Improving Prevention of Waste, Fraud, and Abuse in Use of Government Charge Cards
May 7, 2008 - Instilling financial management disciplines in all Federal agencies is a primary objective of the President's Management Agenda (PMA) – better accounting of assets and liabilities, accurate tracking of receipts and payments, and strong controls to mitigate waste, fraud, and abuse. The PMA reinforces this objective by holding agencies accountable for key financial management results, such as meeting reporting deadlines and achieving a "clean opinion" (or passing score) on financial statement audits. One area that exemplifies the Administration's commitment to these disciplines and objectives is the ongoing improvements being made to the management of the Federal Charge Card Program. View more here

Federal Agencies Still on the Path to Timely, Reliable, and Routine Financial Information
January 31, 2008 - "Federal agencies continue to improve financial reporting by providing timely, reliable, and routine financial information. This is evident with the fiscal year 2007 financial reporting results discussed below. Agencies are meeting aggressive reporting deadlines, achieving unqualified "clean" audit opinions, reducing material weaknesses and maintaining effective internal control. "

Achieving Financial Management Objectives Through Collaboration
September 30, 2007 - "Seventeen years have passed since the enactment of the Chief Financial Officers (CFO) Act of 1990. A primary objective of the Act was instilling financial management disciplines in all Federal agencies - better accounting of assets and liabilities, accurate tracking of receipts and payments, and strong controls to mitigate waste, fraud, and abuse. The President's Management Agenda (PMA) reinforces this objective by holding agencies accountable for key financial management results, such as meeting reporting deadlines and achieving a "clean opinion" (or passing score) on financial statement audits."

A Strong Record of Achievement
July 30, 2007 - "For the last two and a half years it has been my honor to serve as the Office of Management and Budget Controller, and assist the federal financial management community in achieving the objectives of the President's Management Agenda (PMA). Since I have recently announced my retirement, I wanted to reflect on the significant accomplishments that have been made since the launch of the PMA in 2001 and also the opportunities that are on the horizon."

Eliminating $9 Billion of Improper Payments
May 1, 2007 - "In my quarterly updates, I try and highlight areas where the Federal Government has demonstrated that it is acting as an effective steward of the taxpayers' money. One area that I am particularly proud of is our efforts in meeting the President's goal to eliminate improper payments and fulfill the requirements of the Improper Payments Information Act of 2002 (IPIA). Since Federal agencies began reporting in fiscal year (FY) 2004, $9 billion in improper payment payments have been eliminated. This represents a 20% reduction in the baseline $45.1 billion of improper payments identified. I have highlighted three key areas where Federal agencies have made substantial progress."

Getting Government on the Right Financial Management Track
January 22, 2007 - "There may be no more important responsibility of government than to act as an effective steward of the taxpayers’ money. It is therefore no surprise that the President has made improving financial performance one of his top management priorities by setting ambitious, yet attainable, goals to improve financial management government-wide."

Improving the Management of Federal Grant Programs PDF
November 16, 2006 - "The Improving Financial Performance initiative is not only about achieving clean audits, eliminating material weaknesses, and meeting financial reporting deadlines. The initiative also requires Federal agencies to use financial information to make operations more efficient and programs more effective. One area that typifies the Administration’s commitment to these objectives is the ongoing improvements being made to the management of Federal grant programs."

Improving the Cost, Quality, and Performance of Financial Systems PDF
July 26, 2006 -- "July 26, 2006 - "The President’s vision for improving financial performance is that Federal managers have accurate and timely financial information to manage costs. One measure of how agencies are progressing toward achieving the vision is the Improving Financial Performance initiative under the President’s Management Agenda (PMA)."

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Improving Financial Performance General Information
Download A PDF Copy Of PMA
View the President's Management Agenda, an aggressive strategy to achieve the Administration's policy and program goals through reform of federal management and improved program performance.