[Federal Register Volume 68, Number 80 (Friday, April 25, 2003)]
[Notices]
[Pages 20390-20391]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-10246]


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GENERAL ACCOUNTING OFFICE

[Document No. JFMIP-SR-03-02]


Joint Financial Management Improvement Program (JFMIP)--Federal 
Financial Management System Requirements (FFMSR)

AGENCY: Joint Financial Management Improvement Program (JFMIP).

ACTION: Notice of document availability.

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SUMMARY: The JFMIP is seeking public comment on an exposure draft 
entitled ``Inventory, Supplies, and Materials System Requirements,'' 
dated April 2003. The draft is a re-write of the Federal Financial 
Management System Requirements (FFMSR) document that addresses standard 
financial requirements for Federal inventory systems. The document is 
intended to assist agencies when developing, improving or evaluating 
systems for inventory held for sale, operating supplies and materials, 
and stockpile materials. It provides the baseline functionality that 
agency systems must have to support agency missions and comply with 
laws and regulations. When issued in final, the document will augment 
the existing body of FFMSR that define financial system functional 
requirements which are used in evaluating compliance with the Federal 
Management Improvement Act (FFMIA) of 1996.

DATES: Comments are due by June 23, 2003.

ADDRESSES: Copies of the exposure draft have been transmitted to senior 
financial officials chief information officers, together with a 
transmittal memo listing items of interest for which JFMIP is 
soliciting feedback. The Exposure Draft and transmittal memo are 
available on the JFMIP Web site: http://WWW.JFMIP.GOV. Responses should 
be addressed to JFMIP, 1990 K Street, NW., Suite 430, Washington, DC 
20006.

FOR FURTHER INFORMATION CONTACT: Elvon C. Lloyd, (202) 219-0532 or 
[email protected].

SUPPLEMENTARY INFORMATION: The FFMIA of 1996 mandated that agencies 
implement and maintain systems that comply substantially with FFMSR, 
applicable Federal accounting standards, and the U.S. Government 
Standard General Ledger at the transaction level. The FFMIA statute 
codified the JFMIP financial system requirements documents as a key 
benchmark that agency systems must meet to substantially comply with 
systems requirements provisions under FFMIA. To support the provisions 
outlined in the FFMIA, the JFMIP is updating obsolete requirements 
documents and publishing additional requirements documents. Comments 
received will be reviewed and the exposure draft will be revised as 
necessary. Publication of the final document will be mailed to agency 
financial officials, chief information

[[Page 20391]]

officers, and others, and will be available on the JFMIP Web site.

Karen Cleary Alderman.
Executive Director, Joint Financial Management Improvement Program.
[FR Doc. 03-10246 Filed 4-24-03; 8:45 am]
BILLING CODE 1610-02-M