4.3: Financial Management
Financial management systems will support both SBA strategic management and financial accountability by providing financial
information that is useful, relevant, timely and accurate and which assists SBA in maximizing program performance and accountability
Other Information:
The following outcome measures will determine success in meeting this Objective: 4.3.1 By FY 2007, achieve a rating of “Green”
for the Financial Management initiative of the PMA. 4.3.2 Maintain a rating of “Green” for the Budget and Performance Integration
initiative of the PMA. 4.3.3 Each year, SBA financial systems will meet the standard as prescribed in the Federal Financial
Management Improvement Act (FFMIA). 4.3.4 Each year, SBA will receive an unqualified opinion on its financial statement audit.
4.3.5 By FY 2008, budgeting and performance measurement will be fully integrated at SBA. 4.3.6 By FY 2008, 75 percent of non-financial
managers will agree with the statement that financial performance information is being used in SBA budget formulation and
strategic planning and that they understand how such uses have been relevant to their own areas of responsibility. Strategy:
These outcomes are used because the SBA’s financial management objective in the PMA is the most comprehensive and meaningful
indicator of the success of SBA’s financial management systems in the assurance of accountability and the provision of accurate
financial information to SBA management. Measurable and meaningful performance measures for SBA’s programs, together with
impact outcomes for SBA’s functional areas are critical elements for the achievement of SBA’s mission. Together, accurate
financial and valid performance information, constitute one of the cornerstones of an effective and efficient Agency.
Indicator(s):
|
