2.2: Debt Accounting Environment

Redefine and modernize the debt accounting environment.

Other Information:

REDEFINE AND MODERNIZE THE DEBT ACCOUNTING ENVIRONMENT. The current system that accounts for the public debt of the United States, although sound, presents the challenges of managing aging technology, doesn't fit well within Public Debt's enterprise architecture, and doesn't accommodate rapid change. After determining the need to replace the current system, we have decided to seek an existing shared-service solution to meet our accounting responsibilities, rather than developing a proprietary system as we have in the past. This approach will offer many benefits in terms of a faster migration and reduced operational risks and costs. Before seeking the desired technology solution, however, we will engage in a thorough re-engineering of the business processes to best support Summary Debt Accounting needs in the future. We will take full advantage of this opportunity to work from a clean slate. This effort will redefine many reporting requirements, responsibilities, and informational needs. It will also produce more consistent processes across the board, drive improvements in the subsidiary reporting systems, and ultimately create greater efficiency within our debt accounting programs at the summary and subsidiary levels.

Indicator(s):

Indicator:1

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