What CFOs Do

Chief financial officers serve agency leaders and program managers, Congress, the Office of Management and Budget, and the public. Here's how, according to the CFO Council:

Promote the efficient management of resources and assets

• Ensure that management control is a day-to-day process.
• Demand quality financial management at all levels, provide incentives, eliminate impediments and encourage responsible risk-taking.
• Build partnerships to ensure that information resource management, program management, financial management and budgeting all function together.
• Attract, retain and develop highly qualified financial professionals who are valued members of the management team.

Provide quality financial services to internal customers

• Change the view of financial management from solely control to service.
• Enhance customer focus through strong partnerships.
• Commit to high standards of financial services through continuous improvement.
• Help customers restructure their work processes in order to more efficiently achieve their service objectives.

Provide high-quality financial information on operations to support financial and performance reporting

• Establish standards and definitions.
• Create a system for integrating performance measures, cost information and financial reporting.
• Establish integrated government financial management systems, which minimize data entry and human intervention.
• Provide cost-effective reporting analysis and advice that is interactive, timely, reliable and user friendly.

Provide sound financial policies and services and facilitate effective communication

• Improve the integration between the budget and management functions.
• Review and improve coordination among central agencies and between central agencies and program agencies.
• Improve and expand collaboration, cross-servicing and user-friendly outreach within and among government organizations.
• Strengthen the partnership between the executive branch and Congress to improve financial management.

Embrace modern technology and business practices

• Benchmark with high-performance organizations.
• Share best practices among agencies and with the public and private sectors.