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Strategic Objective
MG05.03 Widely inform key stakeholders on new agency budget process
Strategic Objective
Progress Update
With the implementation of the OPM Strategic Plan, the emphasis on strengthening budget transparency and costing has elevated the need for better stakeholder engagement. The Office of the Chief Financial Officer provides agency stakeholders with frequent updates, including senior briefings, on OPM’s financial status, highlighting areas where the agency can better manage its resources. Also in FY 2015, OPM developed a budget, performance and financial management training course for all agency leaders and personnel who have financial management responsibilities within OPM. This training is intended to improve awareness and understanding of key performance, budget and finance responsibilities and concepts, and show relationships between the three areas. OPM also created the Performance Measurement and Reporting Officials group to help OPM program managers develop and execute performance–informed budgets, linking resources expended to performance levels achieved. Lastly, OPM is building its enterprise-wide managerial cost accounting program, which will improve transparency in assigning costs to deliver OPM products and services. This year, OPM is emphasizing building knowledge and understanding of cost accounting management concepts.
Challenges remain in ensuring information is shared at the right levels of management, that information is accessible and timely, and that there is understanding and knowledge to facilitate proper application.
