Treasury Department Building

Financial Innovation & Transformation (FIT)

Federal Financial Management (FM) Self Assessment

Improving financial management requires an unrelenting focus across the enterprise. Chief Financial Officers (CFOs) must identify what is working well and where capabilities are lacking so they can target initiatives to raise the bar for federal financial management. To help address financial management in a comprehensive manner, Treasury has defined three areas that agencies can target when making plans for improvement. These areas include:

  • Operational Efficiency: The performance, productivity, and efficiency of financial management practices
  • Financial Systems & Reporting: The tools to support managing the cost and performance of federal government programs
  • Financial Integrity: The accountability and credibility of federal financial management

Maturity Model graphic
Click on image to enlarge

The Department of the Treasury has developed a Maturity Model to help Chief Financial Officers and their staff self-assess the maturity of their agency’s financial management. It’s designed to be used internally, is easy to perform, and is based on current conditions and existing documentation common to every agency (as in, no new data calls).

Similarly to personal health, the Maturity Model centers on the “fitness” of an agency’s financial management. It focuses on areas that indicate the maturity of financial management. The model establishes five areas levels of maturity, from “inadequate” to “leading.”

Download the FM Maturity Model

Get Involved

To learn more about our initiative, check out the FM Maturity Model FAQs, and contact us at FIT@fiscal.treasury.gov.

Quick References

OMB 16-11, Improving Administrative Functions Through Shared Services

Circular No. A-123 Appendix D, Compliance with the Federal Financial Management Improvement Act of l996

OMB M 13-08, Improving Financial Systems Through Shared Services

OMB M 10-26, Immediate Review of Financial Systems IT Projects

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