Collapse to view only § 901. Establishment of agency Chief Financial Officers
- § 901. Establishment of agency Chief Financial Officers
- § 902. Authority and functions of agency Chief Financial Officers
- § 903. Establishment of agency Deputy Chief Financial Officers
§ 901. Establishment of agency Chief Financial Officers
(a) There shall be within each agency described in subsection (b) an agency Chief Financial Officer. Each agency Chief Financial Officer shall—
(1) for those agencies described in subsection (b)(1)—
(A) be appointed by the President, by and with the advice and consent of the Senate; or
(B) be designated by the President, in consultation with the head of the agency, from among officials of the agency who are required by law to be so appointed;
(2) for those agencies described in subsection (b)(2)—
(A) be appointed by the head of the agency;
(B) be in the competitive service or the senior executive service; and
(C) be career appointees; and
(3) be appointed or designated, as applicable, from among individuals who possess demonstrated ability in general management of, and knowledge of and extensive practical experience in financial management practices in large governmental or business entities.
(b)
(1) The agencies referred to in subsection (a)(1) are the following:
(A) The Department of Agriculture.
(B) The Department of Commerce.
(C) The Department of Defense.
(D) The Department of Education.
(E) The Department of Energy.
(F) The Department of Health and Human Services.
(G) The Department of Homeland Security.
(H) The Department of Housing and Urban Development.
(I) The Department of the Interior.
(J) The Department of Justice.
(K) The Department of Labor.
(L) The Department of State.
(M) The Department of Transportation.
(N) The Department of the Treasury.
(O) The Department of Veterans Affairs.
(P) The Environmental Protection Agency.
(Q) The National Aeronautics and Space Administration.
(2) The agencies referred to in subsection (a)(2) are the following:
(A) The Agency for International Development.
(B) The General Services Administration.
(C) The National Science Foundation.
(D) The Nuclear Regulatory Commission.
(E) The Office of Personnel Management.
(F) The Small Business Administration.
(G) The Social Security Administration.
(c)
(1) There shall be within the Executive Office of the President a Chief Financial Officer, who shall be designated or appointed by the President from among individuals meeting the standards described in subsection (a)(3). The position of Chief Financial Officer established under this paragraph may be so established in any Office (including the Office of Administration) of the Executive Office of the President.
(2) The Chief Financial Officer designated or appointed under this subsection shall, to the extent that the President determines appropriate and in the interest of the United States, have the same authority and perform the same functions as apply in the case of a Chief Financial Officer of an agency described in subsection (b).
(3) The President shall submit to Congress notification with respect to any provision of section 902 that the President determines shall not apply to a Chief Financial Officer designated or appointed under this subsection.
(4) The President may designate an employee of the Executive Office of the President (other than the Chief Financial Officer), who shall be deemed “the head of the agency” for purposes of carrying out section 902, with respect to the Executive Office of the President.
(Added Pub. L. 101–576, title II, § 205(a), Nov. 15, 1990, 104 Stat. 2842; amended Pub. L. 103–296, title I, § 108(j)(1), Aug. 15, 1994, 108 Stat. 1488; Pub. L. 106–58, title VI, § 638(a), Sept. 29, 1999, 113 Stat. 475; Pub. L. 108–330, § 3(a), (d)(2), Oct. 16, 2004, 118 Stat. 1276, 1277.)
§ 902. Authority and functions of agency Chief Financial Officers
(a) An agency Chief Financial Officer shall—
(1) report directly to the head of the agency regarding financial management matters;
(2) oversee all financial management activities relating to the programs and operations of the agency;
(3) develop and maintain an integrated agency accounting and financial management system, including financial reporting and internal controls, which—
(A) complies with applicable accounting principles, standards, and requirements, and internal control standards;
(B) complies with such policies and requirements as may be prescribed by the Director of the Office of Management and Budget;
(C) complies with any other requirements applicable to such systems; and
(D) provides for—
(i) complete, reliable, consistent, and timely information which is prepared on a uniform basis and which is responsive to the financial information needs of agency management;
(ii) the development and reporting of cost information;
(iii) the integration of accounting and budgeting information; and
(iv) the systematic measurement of performance;
(4) make recommendations to the head of the agency regarding the selection of the Deputy Chief Financial Officer of the agency;
(5) direct, manage, and provide policy guidance and oversight of agency financial management personnel, activities, and operations, including—
(A) the preparation and annual revision of an agency plan to—
(i) implement the 5-year financial management plan prepared by the Director of the Office of Management and Budget under section 3512(a)(3) of this title; and
(ii) comply with the requirements established under sections 3515 and subsections (e) and (f) of section 3521 of this title;
(B) the development of agency financial management budgets;
(C) the recruitment, selection, and training of personnel to carry out agency financial management functions;
(D) the approval and management of agency financial management systems design or enhancement projects;
(E) the implementation of agency asset management systems, including systems for cash management, credit management, debt collection, and property and inventory management and control;
(6) prepare and transmit, by not later than 60 days after the submission of the audit report required by section 3521(f) of this title, an annual report to the agency head and the Director of the Office of Management and Budget, which shall include—
(A) a description and analysis of the status of financial management of the agency;
(B) the annual financial statements prepared under section 3515 of this title;
(C) the audit report transmitted to the head of the agency under section 3521(f) of this title;
(D) a summary of the reports on internal accounting and administrative control systems submitted to the President and the Congress under the amendments made by the Federal Managers’ Financial Integrity Act of 1982 (Public Law 97–255); and
(E) other information the head of the agency considers appropriate to fully inform the President and the Congress concerning the financial management of the agency;
(7) monitor the financial execution of the budget of the agency in relation to actual expenditures, and prepare and submit to the head of the agency timely performance reports; and
(8) review, on a biennial basis, the fees, royalties, rents, and other charges imposed by the agency for services and things of value it provides, and make recommendations on revising those charges to reflect costs incurred by it in providing those services and things of value.
(b)
(1) In addition to the authority otherwise provided by this section, each agency Chief Financial Officer—
(A) subject to paragraph (2), shall have access to all records, reports, audits, reviews, documents, papers, recommendations, or other material which are the property of the agency or which are available to the agency, and which relate to programs and operations with respect to which that agency Chief Financial Officer has responsibilities under this section;
(B) may request such information or assistance as may be necessary for carrying out the duties and responsibilities provided by this section from any Federal, State, or local governmental entity; and
(C) to the extent and in such amounts as may be provided in advance by appropriations Acts, may—
(i) enter into contracts and other arrangements with public agencies and with private persons for the preparation of financial statements, studies, analyses, and other services; and
(ii) make such payments as may be necessary to carry out the provisions of this section.
(2) Except as provided in paragraph (1)(B), this subsection does not provide to an agency Chief Financial Officer any access greater than permitted under any other law to records, reports, audits, reviews, documents, papers, recommendations, or other material of any Office of Inspector General established under chapter 4 of title 5.
(Added Pub. L. 101–576, title II, § 205(a), Nov. 15, 1990, 104 Stat. 2843; amended Pub. L. 117–286, § 4(b)(49), Dec. 27, 2022, 136 Stat. 4348.)
§ 903. Establishment of agency Deputy Chief Financial Officers
(a) There shall be within each agency described in section 901(b) an agency Deputy Chief Financial Officer, who shall report directly to the agency Chief Financial Officer on financial management matters. The position of agency Deputy Chief Financial Officer shall be a career reserved position in the Senior Executive Service.
(b) Consistent with qualification standards developed by, and in consultation with, the agency Chief Financial Officer and the Director of the Office of Management and Budget, the head of each agency shall appoint as Deputy Chief Financial Officer an individual with demonstrated ability and experience in accounting, budget execution, financial and management analysis, and systems development, and not less than 6 years practical experience in financial management at large governmental entities.
(Added Pub. L. 101–576, title II, § 205(a), Nov. 15, 1990, 104 Stat. 2845.)