Below you will find the current Chief Financial Officer Council initiatives with a brief description
Controller Alerts are designed to highlight emerging financial management issues that may require agency attention or action. These Alerts are intended to inform the Chief Financial Officer (CFO) community of key issues where the Office of Management and Budget (OMB) believes further action may be warranted, but do not constitute official guidance or prescribe specific tasks for agencies beyond consideration of appropriate steps to address the issue.
CXO Fellows Program
The CXO Fellows Program is comprised of rising stars in the federal finance, acquisitions, and IT sectors at the mid-career level who have shown leadership potential and prepares these future leaders to become forward-thinkers in the space of Federal management.
As federal entities continue to focus on enterprise solutions to manage risks that impact strategic and tactical objectives and use of resources, the CFO Council will work in partnership with other Councils to translate the concept of enterprise risk management past the abstract into practical solutions that support risk-enabled performance.
The Council on Financial Assistance Reform (COFAR) is an interagency group of Executive Branch officials dedicated to coordinating financial assistance. COFAR provides recommendations to the Office of Management and Budget (OMB) on policies and actions necessary to effectively deliver, oversee, and report on grants and cooperative agreements, as well as sharing with executive departments and agencies (agencies) best practices and innovative ideas for transforming the delivery of grant assistance.
With unprecedented numbers of Federal employees eligible for retirement, the CFO Council is committed to maintaining a robust and expert-level workforce in Federal financial management. Working across agencies, the CFO Council will coordinate the next generation of programs to recruit, train, and retain the best of the federal financial management workforce.
Reducing the government-wide improper payment rate is a CFO Council a priority. An improper payment is any payment that should not have been made, lacks sufficient documentation, or that was made in an incorrect amount, potentially resulting in monetary loss to the government. As an effective steward of taxpayer dollars, the members of the CFO Council actively works to reduce improper payments and other instances of waste, fraud, and abuse.
JFMIP Federal Financial Management Conference
Joint Financial Management Improvement Program is a joint and cooperative action undertaken by the U.S. Department of the Treasury, General Accounting Office, Office of Management and Budget, and Office of Personnel Management. Working in cooperation with each other and other agencies, the goal of the JFMIP is to improve financial management practices in the federal government. This effort culminates in an annual Federal financial management conference attended by hundreds of financial management professionals and featuring presentations from government leaders.