Joint Financial Management Improvement Program (JFMIP)Federal Financial Management System Requirements (FFMSR)

The Federal Financial Management

Improvement Act of 1996 (FFMIA) mandated that agencies implement and maintain systems that comply substantially with Federal financial management systems requirements, applicable Federal accounting standards, and the U.S. Government Standard General Ledger at the transaction level. The FFMIA statute codified the JFMIP financial systems requirements documents as a key benchmark that agency systems must meet in order to be substantially in compliance with systems requirements provisions under FFMIA. To support the requirements outlined in the FFMIA, we are updating requirements documents that are obsolete and publishing additional requirements documents. The Core Financial System Requirements document establishes standard requirements for the backbone modules of an agency's integrated financial management system. The major functions supported by a Core Financial System are: Core Financial System Management, General Ledger Management, Funds Management, Payment Management, Receipt Management, Cost Management, and Reporting. These seven functions provide common processing routines, support common data for critical financial management functions affecting the entire agency, and maintain the required financial data integrity control over financial transactions, resource balances, and other financial management systems. This update reflects the most recent changes in laws and regulations, such as the Debt Collection Improvement Act, and clarifies previous requirements. It also incorporates requirements that were previously reflected in the technical requirements of the Financial Management System Software schedule Statement of Work. JFMIP's new Knowledgebase website can be used to identify the changes that have been made to the Core Financial System Requirements document. The new and changed requirements in the exposure draft can be easily identified with this tool. The Knowledgebase can be accessed through FinanceNet under the JFMIP Program Management Office website https:// www.financenet.gov/fed/jfmip/pmo.htm. The Knowledgebase includes both mandatory requirements and value-added features. The exposure draft, however, contains only mandatory requirements on which the vendor software certification test will be based. The Human Resources & Payroll Systems Requirements document is intended for human resources and payroll financial systems analysts, system accountants, and others who design, develop, implement, operate, and maintain financial management systems. The primary purposes for this update are to reflect: changes in statutes, regulations, and technology that have occurred since the document was originally published in May 1990, e.g., passage of the Chief Financial Officers Act of 1990, and FFMIA of 1996; changes in personnel practices brought about by the National Performance Review; and increased availability of commercial off-the-shelf software packages. This update also incorporates core functionalities of a Federal human resources system as defined by the Human Resources Technology Council. Comments received will be reviewed and the exposure drafts will be revised as necessary. Publication of the final requirements will be mailed to agency senior financial officials and will be available on the JFMIP website. Karen Cleary Alderman, Executive Director, Joint Financial Management Improvement Program. [FR Doc. 98-30941 Filed 11-18-98; 8:45 am] BILLING CODE 1610-02-M