Center for Applied Financial Management

Center for Applied Financial Management

In 1991, the Treasury Department's Financial Management Service (FMS)
established the Center for Applied Financial Management, charged with
helping federal agency finance offices operate more efficiently.  At
that time, FM decided to begin an entrepreneurial consulting, training,
and accounting cross-servicing operation on a reimbursable basis through
the Center.  The Center was given three years to become fully
self-supporting.  On growing annual revenues from $2 million to $4
million to just under $7 million in 1993, it covered 80% of its costs.
Projections for 1994 are for accomplishing 100% reimbursement on
substantially increased business.  The Center's success is an example of
government "franchising" of services across agencies.

From:  Walter Jordan
Organization:  Department of Treasury
Location:  Washington, D.C.
Telephone:  (202) 874-9550