Financial Management and Budget Standardization
Financial management and budget standardization (Standardization) includes standardizing business processes and data elements. It enables the government to communicate financial information in a consistent and reliable manner to support the efficient and effective management of government programs and the use of taxpayers' money. The Department of the Treasury's Financial Management Service (FMS), a central agency, is taking a proactive approach to Standardization.
To achieve Standardization, FMS' Enterprise Data Architecture (EDA) group is working to harmonize data across the government by:
To be effective, Standardization must be applied governmentwide. Therefore, government agency cooperation is necessary to achieve the benefits of Standardization. FMS intends to work closely with government agencies to implement financial Standardization on a governmentwide basis.
This Web site explains the road map to FMS' Standardization strategy, provides the timelines for FMS and agencies, and highlights the achievements in moving the government toward Standardization.