Thursday, October 28, 2010

OMB eases reporting requirements for financial chiefs

http://www.nextgov.com/nextgov/ng_20101026_4010.php

Here's just one more source of information being taken away, because what their spending, YOU don't need to know.


The Office of Management and Budget will no longer require chief financial officers to update a series of federal databases with information on progress toward many fiscal goals published on a website called FIDO.gov, according to an internal memo Nextgov obtained


The financial management indicators include fund balances with the U.S. Treasury, electronic payments, percentage of invoices paid on time, interest penalties paid, travel card delinquency rates, and monthly summaries.

OMB officials on Tuesday said agency heads are still required to report the same metrics to OMB as part of other, pre-existing annual and monthly filings. But the information will not be available online for the public, industry and other agencies to see.

"By eliminating redundancies, we are streamlining our process to manage finances more efficiently and effectively," OMB spokeswoman Moira Mack sai