Benefit System Requirements: Checklist for Reviewing Systems Under the Federal Financial Management Improvement Act
The Fed. Financial Mgmt. Improvement Act of 1996 (FFMIA) requires, among other things, that agencies implement & maintain financial management systems (FMS) that substantially comply with federal FMS requirements. These requirements: promote understanding of key financial management systems concepts & requirements; provide a framework for establishing integrated financial management systems to support program & financial managers; & describe specific requirements of financial management systems. This checklist will assist: agencies in implementing & monitoring their benefit systems; & managers & auditors in reviewing their benefit systems to determine if they substantially comply with FFMIA.
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11a Explanation accounting classiﬁcation elements Accounting for Beneﬁt Administration Payment Execution agency agency’s Application Information Stores authorized user Beneﬁt Payment Administration beneﬁt system allow beneﬁt system automatically beneﬁt system capture beneﬁt system maintain beneﬁt system provide Beneﬁt System Requirements beneﬁt system support beneﬁt system update capture the date claim holder claimant master claimant’s master record criteria deﬁned deposit account electronic Explanation Accounting Explanation Application Information Explanation Benefit Payment Explanation Claims Processing Explanation Recovery Receivable Explanation Reporting Explanation Technical Functions Exposure Draft Yes/no Federal Financial Management FFMIA ﬁle Financial Management Improvement ﬁnancial management systems Functional Requirements Ila funds Information Stores Ila Management Recovery Receivable management system requirements Payment Administration Payment Payment Execution Process Processing Computational provide the capability Receivable Management Recovery Recovery Receivable Management reﬂect Requirements 11a Requirements a Explanation SGL accounts speciﬁc status Stores Ila Explanation system provide capabilities system provide features System Requirements Checklist Treasury
Page 5 - Program was initiated in 1948 by the Secretary of the Treasury, the Director of the Bureau of the Budget, and the Comptroller General, and was given statutory authorization in the Budget and Accounting Procedures Act of 1950.
Page 7 - Cost-benefit studies, or other reasoning, that support a "no" answer should be identified in the explanation column. If there are no cost-benefit studies or other support, a full explanation should be provided. "No" answers should not be viewed individually or taken out of context. Rather, "no...
Page 6 - It should be noted that the checklist is based on the existing published JFMIP standards and that changes in laws, regulations, and standards and practices since the standards were issued are not included in the checklist. The revised JFMIP document segregates functional requirements into two general categories — mandatory and value-added. The mandatory requirements describe what the system must do. They consist of the minimum acceptable functionality necessary to establish a system and are based...
Page 1 - September 9, 1997, should be used concurrently. Experienced judgment must be applied in the interpretation and application of this tool to enable a user to consider the impact of the completed checklist on the entire direct loan system and whether the system, as a whole, substantially complies with requirements.
Page 6 - One set of criteria listed in the OMB guidance is the JFMIP systems requirements series. The source of all the questions in this checklist is the JFMIP Grant Financial System Requirements (JFMIP-SR-00-3, June 2000).
Page 7 - OMB's 1997 implementation guidance provides chief financial officers and inspectors general with a means for determining whether their agencies' financial management systems substantially comply with federal financial management systems requirements. The annual reporting required pursuant to section 4 of the Federal Managers' Financial Integrity Act (FMFIA) is one of the means to assist agencies in the determination of substantial compliance.
Page 7 - ... financial management systems substantially comply with federal financial management systems requirements. The annual reporting required pursuant to section 4 of the Federal Managers' Financial Integrity Act (FMFIA) is one of the means to assist agencies in the determination of substantial compliance. Agencies can also use this checklist as a tool to help determine...
Page 5 - GAO, the Office of Management and Budget (OMB), and the Office of Personnel Management (OPM), working in cooperation with each other and other Federal agencies to improve financial management practices in the Federal Government. Leadership and program guidance were provided by the four Principals of JFMIP—the Secretary of the Treasury, the Comptroller General of the United States, and the Directors of OMB and OPM. Although JFMIP ceased...
Page 5 - A-127, Financial Management Systems. JFMIP requirements documents identify (1) a framework for financial management systems, (2) core financial systems requirements, and (3) 16 other financial and mixed systems supporting agency operations, not all of which are applicable to all agencies. Figure 1 is the JFMIP model that illustrates how these systems interrelate in an agency's overall systems architecture. Figure 1: Agency Systems Architecture Source: JFMIP Direct Loan System Requirements (June 1999).