Office of Financial Policy Training Presentation

Office of Financial Policy Training Presentation

Reviewing and Researching Financial Policy

Overview 04/19/2023 Reviewing and

Researching Financial Policy

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•Review the roles and responsibilities for the Office of Financial Policy (OFP), Accounting and Payroll Policy Service.

•Discuss the web sites and other methods used for researching financial policy questions or concerns.

•Review the points of contacts and how to submit questions and suggestions for changes to policy.

•VA CFO Organization and Responsibilities•VA OFP and APPS Organization and Respon

sibilities•Evolution of the Financial Policy Process •Financial Policy Volumes and Chapters•Policy Research Considerations and

Procedures•Policy Research Websites•Submission for Questions and

Policy Change Requests•VA Administration and Other Staff Office C

ontacts

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Agenda

In accordance with Title 31 of the U.S. Code, Chapter 9 , Sections 901 and 902 (CFO Act of 1990), the VA Chief Financial Officer (CFO) is tasked with directing, managing, and providing policy guidance and oversight of the VA financial management personnel, activities, and operations. The authority also established an agency CFO.


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VA CFO Organization and Responsibilities


38 USC Chapter 3 also grants the VA Secretary authority to designate the Assistant Secretary as the CFO of the Department.


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Secretary of VA

Executive in Charge and Chief Financial Officer (CFO)

Office of the Deputy Assistant Secretary (DAS) for Finance

Office of Financial Policy (OFP) Associate Deputy Assistant

Secretary (ADAS)


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VA OFP Organization and Responsibilities

Office of the DAS for Finance

OFP ADAS

OFP Deputy Director

Accounting & Payroll Policy

Service

Cash & Debt Mgmt Service

Mgmt & Financial Reports Service

Grants Mgmt Service


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• Providing VA-wide financial policy and guidance, • Preparing VA’s annual Consolidated Financial

Statements and other comprehensive financial reports as requested,

• Working with the Office of the Inspector General’s independent contract auditors,

• Assisting VA’s Office of Budget in incorporating statements and audit results in the Annual Performance and Accountability Report (PAR), and

• Providing VA-wide customer support.• More information on OFP may be accessed

through the VA Web site: http://www.va.gov/finance/policy/.


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VA OFP Responsibilities

http://www.va.gov/finance/policy/

OFP APPS Organization and Responsibilities

OFP ADAS

Accounting &Payroll Policy

Service, Director

Staff Accountants

Supervisor, Accounting and

FMS Transactions

Financial Analysts,

Payroll Policy

Supervisor, Travel Policy


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• Developing, coordinating, issuing, evaluating, and reviewing VA financial, payroll, and travel policies and procedures,

• Responding to policy inquiries and audit requests,• Reviewing and analyzing FMS transactions,• Assisting with passport applications and receipt,

and • Assisting in the annual preparation of the

Consolidated Financial Statement and independent audit.

• More information on OFP APPS may be accessed through the VA web site, http://www.va.gov/finance/policy/aptps.asp


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OFP APPS Organization and Responsibilities

http://www.va.gov/finance/policy/aptps.asp

•What Public Law (Act) established the Chief Financial Officer position?

a. Government Performance and Results Act of 1993

b. Budget Enforcement Act of 1990c. Chief Financial Officers Act of 1990d. Government Management Reform Act

of 1994


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CFO AND OFP REVIEW

CFO AND OFP REVIEW

•What are the duties for the Office of Financial Policy? Select all that apply.

a. Developing and maintaining financial policyb. Developing procurement policyc. Preparing and issuing VA’s Consolidated

Financial Statementsd. Developing and maintaining cash and debt

management policese. Reviewing and approving USSGL financial

transactions


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Evolution of the OFP Financial Policy (FP) Process

• 2006: Deloitte and Touche issued an audit finding.

• July 2008: VA CFO contracted with Grant Thornton to assist with financial policy updates, known as the Financial Policy Improvement Initiative (FPII).

• July 2008 – July 2011: The financial process developed to update the policies is refined over the course of three years. The Administrations and other Staff Offices buy-in to the process and become active members.

• July 2009: The first of the policies are published to the OFP Publications Library Web site.

• July 2011: The FPII process culminates in 169 financial policies being updated and published in 14 financial policy volumes.

• August 2011: The directives, handbooks, manuals, bulletins, and notices rescinded in the chapters are officially rescinded.

• October 2011: A new Financial Policy Steering Committee Charter is approved authorizing the continuation of the process.

• FY2012 and Beyond: OFP continues the FP process and annually reviews the FPSC Charter for changes. An FP Chapter Review Schedule is used to monitor new and existing chapters.


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• Establishes a buy-in and approval (partnership) from the lower to the upper level. It is a hands on approach at every level.

• Establishes a review process for all chapters regardless of whether they are new or revisions.

• Is governed by the FPSC Charter signed by all members and also contains the FPWG Rules of Engagement. The charter identifies the VA organizations and other staff office members and the roles for each group.

• Reduces the time to develop or revise a chapter rather than the extended time for directives or handbooks.

• Provides for new or updated policy notification through the FPSC and FPWG members and participants.


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Financial Policy (FP) Process

FP Process Flowchart 04/19/2023 Reviewing and Researching Financial

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6. FPWG approved

policy forwarded to FPSC for

review, discussion

& vote.

NoNo

1. Chapter due for review or

possible need for new policy or

revision identified.

2. Policy researched by OFP or

other staff. All proposals are reviewed by OFP prior

to FPWG review.

Identify where the new policy

or change is written.

No

APPS SMEs FPWG FPSC CFO

Yes

Yes

Back to 4.

No

Yes

Approve policy?

8. CFO approved &

signed policy published.

Yes

Policy neede

d?

5. Draft policy

reviewed by FPWG for

discussion & vote.

4. Main, OFP POC drafts new or revised policy

and reviews with SMEs. Consensus reached.

3. Request reviewed by

FPWG for discussion

and/or SME identification.

Back to 5.

Approve Policy?

7. FPSC approved

policy forwarded to CFO for approval & signature.

Approve policy?

FP Process Review

•What are the FP levels from first review to approval?

a. FP Working Group, SMEs, FP Steering Committee, and CFO

b. SMEs, FP Working Group, FP Steering Committee, and CFO

c. FP Steering Committee, SMEs, CFO, and FP Working Group

d. SMEs, FP Working Group, CFO, and FP Steering Committee


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FP Process Review

•The FP Process does not establish a buy-in from all levels? True or False

•The CFO has final approval for issues that cannot be resolved at the other levels? True or False


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I. General Accounting

II. Appropriations, Funds, & Related Information

III. Miscellaneous Accounting Topics

IV. Revenue & Expenses

V. Assets

VI. Liabilities

VII. Financial Reporting

VIII. Cash Management

IX. [Placeholder for Future Volume]

X. Grants Management

XI. Committee on Waivers & Compromises

XII. Debt Management

XIII. Cost Accounting

XIV. Travel

XV. Payroll

XVI. Charge Card Programs


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The spreadsheet with OFP Volumes and Chapters to Directives/Handbooks Matrix: is available in the VA Notice 11-04 which is hyperlinked on the VA OFP Volumes Web site, http://www.va.gov/finance/policy/pubs/. In addition to this matrix, a Cumulative Rescission Matrix is available on the OFP Volumes and Chapters website. This file identifies the Directives, Handbooks, Manuals, Bulletins, and Chapters that have been rescinded and merged to date.

Financial Policy Volume’s Structure

http://www.va.gov/finance/policy/pubs/


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Volume I Chapters

Policy Research Considerations

•Determine the basis for the question: Is it related to finance and accounting policy or is it a system or other procedural question?

▫Need assistance entering a transaction in IFCAP, CAATS, etc.

▫Need assistance on determining whether funds may be retained.


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Policy Research Procedures

•Review OFP, Administration, regional, and/or facility (station) policy and procedural materials,

•Use references and resources included in the Policy for additional research, to include Comptroller General (CG) decisions, Code of Federal Regulations (C.F.R.), and U.S. Code references, and

•Perform “site searches”.


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OFP Policy Research Example – OFP Site Search


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OFP Policy Research Example – VA Search


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OFP Policy Research Example – FAQs


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OFP Policy Research Example – FAQs

VA Policy Research Web Sites

• VA OFP Website: http://www.va.gov/finance/policy/index.asp and http://vaww.va.gov/FINANCE/policy/index.asp (VA only)

• VA OFP Publications: http://www.va.gov/finance/policy/pubs/

• VA Publications: http://www.va.gov/vapubs/ • VHA Policy Website: http://www.va.gov/vhapublications/ • VBA: http://www.benefits.va.gov/WARMS/Site_Map.asp • VA General Counsel Publications: (VA only)

http://vaww.ogc.vaco.portal.va.gov/library/default.aspx . • VA OIG: http://www.va.gov/oig/publications/• HR Policy:

http://vaww1.va.gov/ohrm/HRLibrary/Dir-Policy.htm


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http://www.va.gov/finance/policy/index.asp

http://vaww.va.gov/FINANCE/policy/index.asp


http://www.va.gov/vapubs/

http://www.va.gov/vhapublications/

http://www.benefits.va.gov/WARMS/Site_Map.asp

http://vaww.ogc.vaco.portal.va.gov/library/default.aspx

http://www.va.gov/oig/publications/

http://vaww1.va.gov/ohrm/HRLibrary/Dir-Policy.htm

Other Policy Research Web Sites• Federal Accounting Standards Advisory Board

(FASAB): ▫http://www.fasab.gov/

• Government Accountability Office (GAO) Principles of Federal Appropriations Law (Redbook): ▫http://www.gao.gov/legal/redbook.html

• GAO Legal Decisions, including Comptroller General Decisions: ▫http://www.gao.gov/legal/index.html

• Government Printing Office Official Government Publications, e.g., Public Laws, U.S.C., C.F.R.: ▫http://www.gpo.gov/fdsys/search/home.action


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http://www.fasab.gov/accounting-standards/

http://www.gao.gov/legal/redbook.html

http://www.gao.gov/legal/index.html

http://www.gpo.gov/fdsys/search/home.action

Submission of Policy Questions• Determine the subject of the inquiry.

▫Financial/Accounting Policy▫Technical Procedures, e.g., FMS, IFCAP, CAATS, FAP▫Other Office Policy, e.g., Procurement, Acquisitions,

Construction• Formulate the specific question with appropriate

details and extenuating circumstances, and research or findings. Try to be specific, but concise.

• Initially contact administration, regional, and/or local offices for assistance. Contact administration, regional, and/or facility technical and subject matter experts for particular procedure.


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Policy Research Review• Demonstrate your knowledge of using OFP

Publications Library site search function.

Using the url: http://www.va.gov/finance/policy/pubs/, what are two chapter(s) displayed for “awards.”

a. Vol I Ch 1, Introduction to VA’s Accounting Policies

b. Vol II Ch 2, VA’s Budget Cycle and Fund Symbols

c. Vol II Ch 4, Awards, Ceremonies, Food or Refreshments, Gifts or Mementos

d. Vol XV Ch 3 Payroll: Awards and Incentives


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• Demonstrate your knowledge of using the GAO Redbook.Using the url: http://www.gao.gov/legal/redbook.html, what section in Volume I is the main guidance for providing food for employees:

a. Chapter 4, Avail of Approp: Purpose, Section C. Specific Purpose Authorities and Limitations

b. Chapter 3, Agency Regulations and Admin Discretion, Section C. Administrative Discretion

c. Chapter 5, Avail of Approp: Time, Section B. Bona Fide Needs Rule


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Policy Research Review

http://www.gao.gov/legal/redbook.html

Policy Change Requests

•OFP policy change requests may be submitted for various reasons, to include, but not limited to:▫A policy appears to be out of date based on

recent legislation, GAO CG decision, etc.▫A policy contradicts another policy.▫You have a suggestion to streamline a process

in a policy.•When these arise, an OFP Request for Policy

Update form is the approved method of requesting a change or requesting a policy be reviewed.


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Policy Change Requests•Complete the form and provide adequate

justification and supporting documentation, as needed.

•Send the request through your chain of command to your respective administration or other staff office finance office. For example, for the VA Administrations:▫VA Medical Center to VISN to VHA CFO▫VBA Director to RO to VBA CFO▫NCA Director to MSN to NCA Finance

Services to NCA CFO


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Policy Change Requests•The Administration CFO or other staff office

financial official will review and approve/disapprove the request.

•The approved request is submitted to OFP APS for review and recommendation.

•An approved recommendation will be placed into the policy review schedule based upon the priority.

•The Request for Policy Update form is located at, http://www.va.gov/finance/policy/accounting/.


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http://vaww4.va.gov/FINANCE/policy/index.asp

VA Administration and Other Staff Office Contacts

• OFP Outlook contact: OFP Accounting Policy•VHA Outlook contact: VHA Accounting Policy

(103A)• VBA Outlook contact: VAVBAWAS/CO/FINREP• NCA Finance Service: Ph# 540-658-7280

(Finance Group)• Other Contacts:

http://www.va.gov/finance/policy/contacts.asp


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Summary• In summary, we’ve discussed the

following:▫VA CFO Organization and authority to

provide accounting and financial policy▫Procedure used for VA OFP policy

development or revision▫Research considerations and some common

webs sites▫Administration and other staff office points

of contact▫Procedures to request policy assistance or to

request a change in policy.


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Parting Thoughts

•We can only perform functions/missions and spend funds in accordance with legislature or other regulatory guidance.

•If you have completed the research and you still question the propriety of purchasing or providing a product or service, it probably isn’t authorized.


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Documents

Office of Financial Policy Training Presentation