The Chief Financial Officer’s (CFO) Act of 1990 (Public Law 101-576) was signed into law by President George H. W. Bush on November 15, 1990. It mandates that the chief financial officers of agencies covered by the Act develop and maintain agency financial management systems that comply with applicable accounting principles, standards, and requirements; internal control standards; Department of the Treasury, and other regulatory and standards setting organizations. The CFOA focuses on the government’s responsibility to use timely, reliable, and comprehensive financial information when making decisions. Despite good intentions and past efforts to improve its financial management systems, the Army financial management leadership concluded that compliance would require replacing its legacy systems. The Army’s solution – GFEBS. GFEBS is designed to satisfy the statutory requirements of the CFO Act. To support Aberdeen Proving Grounds’ (APG) CFOA requirement, SPATIAL conducted a full assessment of a statistically significant sample size of the DPW’s documentation and information in physical folders and real property records in GFEBS for accuracy and completeness. The following steps were executed to track each folder:
- Physical Real Property files: Examine RP hardcopy files, physical inventory records, and documentation for completeness including DD Forms 1354, floor plans, maps, color photographs (mandatory), Property Cards, cost details, GFEBS screen shots & attestation memos), disposal records (such as DD Forms 1354, DD Forms 337, historic and environmental reviews, DD Forms 1391, Excess or Disposal reports, transfer and privatization documentation), equipment records that exceed capitalization thresholds or change depreciation schedules, and other data (such as inventory inspection reports, diversion/conversion requests to IMCOM, utilization reports, outgrants, contracts & contract mods, work authorizations, statements of work, task and delivery orders, legislative documents and DD Forms 1351).
- GFEBS Record Examination and Data Corrections/Updates: Examine all RP records currently entered into GFEBS for accuracy and completeness. Enter all data necessary for GFEBS to be compliant and complete including updating pooled space and rental objects, unit of measure, CATCODES (including CATCODE changes for SCIF structures), and update/correct data in GFEBS so it aligns with the down trace systems square footage for accurate energy usage reporting.
- Reconcile GFEBS to the Physical Real Property Files:
When anomalies are found, the required/accepted Memorandum(s), per OACSIM’s Audit Readiness Handbook v3, are drafted and staffed for signatures. Only after signatures are complete will changes be made within GFEBS.
- Create new records for real property assets: Enter information obtained from signed DD Forms 1354.
- Review Physical Real Property Records
- Review GFEBS Records
- Perform Discrepancy Analysis for each RP Record
- Update GFEBS
- Update Physical Folder