#aaith ,,congress  #b;d ,session  ,h4   
,r4 #hcdj  ,,an ,,act  ,to modify the   
governmentwide financial management     
plan1 and for other purposes4  #a4      
,short title ,this ,act may be cited as 
the ,taxpayer ,funds ,oversight and     
,accountability ,act4  #b4 ,chief       
financial officers2 governmentwide      
financial management plan  7a7 ,chief   
financial officer and deputy chief      
financial officer ,chapter #i of title  
#ca1 ,united ,states ,code1 is amended--
  7#a7 in section #ijb7;a7-- 7,a7 in the
 matter preceding paragraph 7#a71 by    
striking ,an and inserting ,it shall be 
the duty and responsibility of each     
agency ,chief ,financial ,officer to    
oversee and1 unless specified otherwise 
in law1 provide leadership in the areas 
of budget formulation and execution1    
planning and performance1 risk          
management1 internal controls1 financial
 systems1 accounting1 and other areas as
 designated by the ,deputy ,director of 
,management under their authorities     

described in section #ejc of this title4
 ,in carrying out the preceding         
sentence1 each2  7,b7 in paragraph      
7#c7-- 7i7 in subparagraph 7,c71 by     
inserting areas and before systems2 and 
7ii7 in subparagraph 7,d7-- 7,i7 in     
clause 7iii71 by striking and at the    
end2  7,,ii7 in clause 7iv71 by striking
 performance2 and inserting performance 
and integration of performance and cost 
information2 and2 and  7,,iii7 by adding
 at the end the following3  7v7 annual  
agency financial statements prepared in 
accordance with applicable accounting   
standards2  2  7,c7 by redesignating    
paragraphs 7#e71 7#f71 7#g71 and 7#h7 as
 paragraphs 7#g71 7#h71 7#i71 and 7#aa7 
respectively2  7,d7 by inserting after  
paragraph 7#d7 the following3  7#e7     
oversee and provide leadership over the 
design1 implementation1 and operation of
 the internal controls of the agency    
over financial reporting and key        
financial management information        
identified under section #ceab7;e77#a72 

7#f7 prepare1 in consultation with      
financial management and other          
appropriate experts1 an agency plan to  
implement the #d-year financial         
management plan prepared by the         
,director of the ,office of ,management 
and ,budget under section #ceab7;a77#b7 
of this title and to achieve and sustain
 effective financial management in the  
agency1 which shall-- 7,a7 be completed 
within #abj days after the issuance of a
 governmentwide plan under such section 
#ceab7;a77#b72  7,b7 be revised as      
determined necessary by the ,chief      
,financial ,officer and the ,director of
 the ,office of ,management and ,budget2
  7,c7 include financial management     
metrics against which the financial     
management performance of the agency    
shall be assessed2 and  7,d7 be         
submitted upon completion or revision to
 the head of the agency1 the ,director  
of the ,office of ,management and       
,budget1 the ,comptroller ,general1 and 
appropriate committees of ,congress1 and

 be made publicly available2  2  7,e7 in
 paragraph 7#g71 as so redesignated--   
7i7 by striking subparagraph 7,a72  7ii7
 by redesignating subparagraphs 7,b7    
through 7,e7 as subparagraphs 7,a7      
through 7,d71 respectively2 and  7iii7  
in subparagraph 7,c71 as so             
redesignated1 by adding and at the end2 
7,f7 in paragraph 7#h71 as so           
redesignated--  7i7 in the matter       
preceding subparagraph 7,a71 by striking
 and the ,director of the ,office of    
,management and ,budget1 and inserting 1
 the ,director of the ,office of        
,management and ,budget1 the            
,comptroller ,general1 and appropriate  
committees of ,congress1 which shall be 
made publicly available and2  7ii7 in   
subparagraph 7,a71 by striking agency2  
and inserting  agency1 including-- 7i7  
the progress of the agency in           
implementing the agency plan described  
in paragraph 7#e72  7ii7 the progress of
 the agency in implementing the         
governmentwide #d-year financial        

management plan prepared by the         
,director of the ,office of ,management 
and ,budget under section #ceab7;a77#b7 
of this title2 and  7iii7 the           
performance of the agency against       
financial management metrics established
 by the ,director of the ,office of     
,management and ,budget2  2 and  7iii7  
in subparagraph 7,d7-- 7,i7 by striking 
of the reports and inserting  of-- 7i7  
the reports  2  7,,ii7 in clause 7i71 as
 so designated1 by striking the         
amendments made by the ,federal         
,managers' ,financial ,integrity ,act of
 #aihb 7,public ,law #ig-bee72 and and  
inserting section #ceab7;d7 of this     
title2 and2 and  7,,iii7 by adding at   
the end the following3  7ii7 the        
reporting of the agency under the       
,federal ,financial ,management         
,improvement ,act of #aiif 7#ca         
,u4,s4,c4 #ceab note72 and  2  7,g7 in  
paragraph 7#i71 as so redesignated--    
7i7 by striking monitor the and insert  
manage the formulation and2 and  7ii7 by

 striking 1 and prepare and submit to   
the head of the agency timely           
performance reports2 and and inserting a
 semicolon2  7,h7 by inserting after    
paragraph 7#i71 as so redesignated1 the 
following3  7#aj7 coordinating with the 
responsible agency official to ensure   
performance and cost information are    
linked1 including in the preparation and
 submission to the head of the agency of
 timely performance reports that        
incorporate cost information2  2  7,i7  
in paragraph 7#aa71 as so redesignated--
 7i7 by inserting inflation and before  
costs2 and  7ii7 by striking the period 
at the end and inserting 2 and2 and     
7,j7 by adding at the end the following3
  7#ab7 coordinate with senior agency   
personnel1 including but not limited to1
 those with statutory1 regulatory1 and  
related policy responsibility which may 
include the ,chief ,data ,officer1      
,chief ,information ,officer1 ,chief    
,performance ,officer1 ,chief           
,acquisition ,officer1 ,chief ,risk     

,officer1 and ,chief ,evaluation        
,officer of the agency on-- 7,a7 the    
exercise of authorities under this      
subsection2 and  7,b7 the strategic     
planning1 performance measurement and   
reporting1 and risk management functions
 of the agency4  2 and  7#b7 in section 
#ijc--  7,a7 in subsection 7a71 by      
inserting and who shall assist the      
agency ,chief ,financial ,officer in the
 performance of each of the duties of   
the agency ,chief ,financial ,officer   
under this chapter after matters2 and   
7,b7 by adding at the end the following3
  7c7 ,notwithstanding subchapter ,,iii 
of chapter #cc of title #e1 in the event
 of a vacancy in the position of ,chief 
,financial ,officer of an agency1 the   
,deputy ,chief ,financial ,officer of   
the agency shall serve as the acting    
,chief ,financial ,officer4  4  7b7     
,governmentwide financial management    
plan ,section #ceab of title #ca1       
,united ,states ,code1 is amended--     
7#a7 in subsection 7a7-- 7,a7 in        

paragraph 7#a71 by striking a financial 
management status report and a          
governmentwide #e-year financial        
management plan and inserting a         
governmentwide #d-year financial        
management plan1 to be included within  
the ,federal ,government performance    
plan described in section #aaae1 and a  
financial management status report2     
7,b7 by striking paragraph 7#b72  7,c7  
by redesignating paragraph 7#c7 as      
paragraph 7#b72  7,d7 in paragraph 7#b71
 as so redesignated-- 7i7 in            
subparagraph 7,a7--  7,i7 by striking   
#e-year and inserting #d-year2  7,,ii7  
by striking shall describe and inserting
 the following3  shall-- 7i7 describe  2
  7,,iii7 in clause 7i71 as so          
redesignated1 by striking #e fiscal     
years to improve the financial          
management of the ,federal ,government4 
and inserting #d fiscal years to improve
 the financial management of the        
,federal ,government in a manner that is
 strategic1 comprehensive1 and          

cost-effective1 and shall also include  
strategies for enabling data sharing in 
accordance with applicable law and joint
 fraud prevention initiatives with      
,state 7meaning a ,state of the ,united 
,states1 the ,district of ,columbia1 a  
territory or possession of the ,united  
,states1 or a federally recognized      
,indian tribe7 and local governments    
that administer federally funded        
programs or disburse ,federal funds on  
behalf of the ,federal ,government2 and2
 and  7,,iv7 by adding at the end the   
following3  7ii7 be developed in        
consultation with the ,chief ,financial 
,officers ,council and1 as appropriate1 
other councils and financial management 
experts1 including the ,chief           
,information ,officers ,council1 the    
,chief ,data ,officer ,council1 the     
,chief ,acquisition ,officers ,council1 
and the ,government ,accountability     
,office1 as determined by the ,director 
of the ,office of ,management and       
,budget in consultation with the ,chief 

,financial ,officers ,council4  2 and   
7ii7 in subparagraph 7,b7--  7,i7 in the
 matter preceding clause 7i71 by        
striking #e-year and inserting #d-year2 
7,,ii7 in clause 7iii7--  7aa7 by       
striking for developing and inserting   
for improving financial management      
systems1 including--  7,i7 developing  2
 and  7bb7 by adding at the end the     
following3  7,,ii7 describe how         
performance and cost information are    
linked in order to facilitate effective 
and efficient decision making2  7,,iii7 
eliminating duplicative and unnecessary 
systems and activities2 and  7,,iv7     
identifying opportunities for agencies  
to share systems and services and       
encouraging agencies to do so where     
practicable2  2  7,,iii7 by striking    
clause 7iv72  7,,iv7 by redesignating   
clause 7v7 as clause 7iv72  7,v7 by     
inserting after clause 7iv71 as so      
redesignated1 the following3  7v7       
provide a strategy for reporting        
performance and cost information2  2    

7,,vi7 in clause 7vi71 by striking      
#e-year and inserting #d-year2  7,,vii7 
in clause 7vii71 by striking identify   
and inserting provide a strategy for    
strengthening the ,federal financial    
management workforce1 including         
identification of2  7,,viii7 in clause  
7viii71 by striking and at the end2     
7,,ix7 by redesignating clause 7ix7 as  
clause 7x72  7,x7 by inserting after    
clause 7viii7 the following3  7ix7      
include financial management metrics    
against which the performance of        
executive agencies can be assessed2 and 
2 and  7,,xi7 in clause 7x71 as so      
redesignated1 by striking #e-year and   
inserting #d-year2  7,e7 by inserting   
after paragraph 7#b7 the following3     
7#c7 ,a financial management status     
report under this subsection shall      
include--  7,a7 a description and       
analysis of the status of financial     
management in the executive branch1     
including the progress made towards     
implementing the governmentwide #d-year 

financial management plan1 and the      
status of remaining challenges to       
implementing the governmentwide #d-year 
financial management plan2  7,b7 a      
summary of the performance of agencies  
against the metrics developed and       
identified by the ,director of the      
,office of ,management and ,budget in   
the governmentwide #d-year financial    
management plan2  7,c7 a summary of the 
most recently completed financial       
statements-- 7i7 of ,federal agencies   
under section #ceae of this title2 and  
7ii7 of ,government corporations2  7,d7 
a summary of the most recently completed
 financial statement audits and         
reports--  7i7 of ,federal agencies     
under subsections 7e7 and 7f7 of section
 #ceba of this title2 and  7ii7 of      
,government corporations2  7,e7 a       
summary of reports on internal          
accounting and administrative control   
systems submitted to the ,president and 
,congress under subsection 7d72  7,f7 a 
listing of agencies whose financial     

management systems do not comply        
substantially with the requirements of  
section #hjc7;a7 of the ,federal        
,financial ,management ,improvement ,act
 of #aiif 7#ca ,u4,s4,c4 #ceab note71   
and a summary statement of the efforts  
underway to remedy the noncompliance2   
and  7,g7 any other information the     
,director considers appropriate to fully
 inform ,congress regarding the         
financial management of the ,federal    
,government4  2  7,f7 in paragraph      
7#d7--  7i7 in subparagraph 7,a7-- 7,i7 
by striking #ae months after the date of
 the enactment of this subsection and   
inserting #ab months after the date of  
the enactment of the ,taxpayer ,funds   
,oversight and ,accountability ,act2 and
  7,,ii7 by striking #e-year and        
inserting #d-year2  7ii7 in subparagraph
 7,b7--  7,i7 in clause 7i7-- 7aa7 by   
striking ,not later than ,january #ca of
 each year thereafter and inserting ,at 
a minimum1 concurrently with the        
submission of the budget of the ,united 

,states ,government under section       
#aaje7;a7 of this title made in the     
first full fiscal year following any    
year in which the term of the ,president
 commences under section #aja of title  
#c2  7bb7 by striking financial         
management status report and a revised  
governmentwide #e-year and inserting    
governmentwide #d-year2 and  7cc7 by    
striking #e fiscal years and all that   
follows through the period at the end   
and inserting #d fiscal years42 and     
7,,ii7 in clause 7ii7-- 7aa7 by striking
 revised governmentwide #e-year and     
inserting governmentwide #d-year2 and   
7bb7 by striking paragraph              
7#c77;,b77viii7 and inserting paragraph 
7#b77;,b77viii72 and  7iii7 by adding at
 the end the following3  7,c7 ,each     
year1 concurrently with the submission  
of the budget of the ,united ,states    
,government under section #aaje7;a7 of  
this title1 the ,director of the ,office
 of ,management and ,budget shall submit
 to the appropriate committees of       

,congress and the ,comptroller ,general 
a financial management status report4  2
 and  7,g7 by striking paragraph 7#e72  
7#b7 in subsection 7d77#b7-- 7,a7 in    
subparagraph 7,a71 by striking and at   
the end2  7,b7 in subparagraph 7,b71 by 
striking the period at the end and      
inserting 2 and2 and  7,c7 by adding at 
the end the following3  7,c7 a separate 
report on the results of the assessment 
and conclusion required under subsection
 7e77#b74  2  7#c7 by redesignating     
subsections 7e71 7f71 and 7g7 as        
subsections 7f71 7g71 and 7h71          
respectively2 and  7#d7 by inserting    
after subsection 7d7 the following3  7e7
 ,the head of each executive agency     
shall--  7#a7 in establishing the       
internal accounting and administrative  
controls under subsection 7c71 identify 
the key financial management information
 needed for effective financial         
management and decision making1 which   
shall include a consideration of-- 7,a7 
the agency spending data required to be 

published under the ,federal ,funding   
,accountability and ,transparency ,act  
of #bjjf 7#ca ,u4,s4,c4 #faja note72 and
  7,b7 the information used by the      
agency to report on improper payments   
under section #cceb of this title2 and  
7#b7 annually assess and make a         
conclusion on the effectiveness of the  
internal controls of the executive      
agency over financial reporting and key 
financial management information        
identified under paragraph 7#a7         
consistent with guidance provided by the
 ,director of the ,office of ,management
 and ,budget4  4  7c7 ,technical and    
conforming amendment ,section #ccdh7;e7 
of title #e1 ,united ,states ,code1 is  
amended-- 7#a7 in paragraph 7#c71 by    
adding or at the end2  7#b7 by striking 
paragraph 7#d72 and  7#c7 by            
redesignating paragraph 7#e7 as         
paragraph 7#d74  ,passed the ,house of  
,representatives ,june #aj1             
#bjbf4;,clerk4