3. Ensure that information is useful and accurate for program managers (Ensure that the information being collected, disseminated, and reported on is useful, objective, timely, and accurate for the benefit of program managers) CFOs should begin meeting regularly with agency heads and program managers to develop tools such as financial measures, indicators, and reporting formats, to ensure that line management information needs are being met by the CFO Office. This would provide CFO offices and line managers with a better understanding of the roles that each one plays in the efficient operation of their organization. Additionally, it should increase the collaboration between the two groups and reduce any existing tensions. The CFO office should explain how to make the best use of the financial information it is providing to line managers. Feedback mechanisms should be established to ensure an ongoing usefulness of the information being provided to the program managers. CFOs, using the CFO Council as a point of coordination, should jointly develop tools by May 1994 to evaluate overall agency financial management performance for reporting to department or agency heads. CFOs should begin making their reports to department heads by June 1994. Copies of those reports should be provided to the CFO Council. CFOs should provide financial management briefings to agency heads on a regular basis to report on financial management indicators. All too often agency heads are not aware of, nor do they understand, the financial aspects of program management. Such briefings would provide for more informed decisions and debates on program management. It would also demonstrate the value of financial information to agency heads so that they may better manage their agencies.
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