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Federal Financial Management System Requirements

Property Management Systems Requirements

JFMIP-SR-00-4 October 2000

What is JFMIP?
The Joint Financial Management Improvement Program (JFMIP) is a joint undertaking of the U.S. Department of the Treasury, the General Accounting Office, the Office of Management and Budget, and the Office of Personnel Management, working in cooperation with each other and other agencies to improve financial managemen t practices in Government. The Program was given statutory authorization in the Budget and Accountin g Procedures Act of 1950 (31 USC 65 as amended). Leadership and program guidance are provided by the four Principals of the JFMIP – Comptroller General of the United States, Secretary of the Treasury, and the Directors of the Office of Management and Budget, and the Office of Personnel Management. Each Principal designates a representative to serve on the JFMIP Steering Committee, which is responsible for the general direc tion of the Program. The JFMIP Executive Director and a program agency representative (who serves for 2 years) are also on the Steering Committee. The Program promotes strategies and guides financial management improvement across Government, revi ews and coordinates central agencies’ activities and policy promulgations, and acts as a catalyst and clearinghouse for sharing and disseminating information about good financial management practices. This information sharing is done through conferences and other educational events, newsletters, meetings with interagency groups and agency personnel, and through FinanceNet, an electronic clearinghouse on the Internet. The JFMIP has worked on interagency projects that developed a financial systems framework and financial systems requirements. For the future, JFMIP plans to assist Federal agencies in improving their financial systems through its Program

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