Published: 2001
Total Pages: 27
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The Federal Financial Management Improvement Act (FFMIA) of 1996 requires, among other things, that agencies implement and maintain financial management systems that substantially comply with federal financial management system requirements. These requirements are detailed in the Federal Financial Management System Requirements series issued by the Joint Financial Management Improvement Program (JFMIP)1 and Office of Management and Budget (0MB) Circular A-127, Financial Management Systems. The JFMIP requirements document describes the federal financial system architecture as consisting of (1) core financial systems, (2) other financial and mixed systems (including the property management systems), not all of which are applicable to all agencies, (3) shared systems, and (4) departmental executive information systems (systems to provide management information to all levels of management). 2 Figure 1 is the JFMIP model that illustrates how these systems interrelate in an agency's overall systems architecture.
