MEMORANDUM OF UNDERSTANDING BETWEEN

THE DEPARTMENT OF THE TREASURY
OFFICE OF THE FISCAL ASSISTANT SECRETARY

AND

THE OFFICE OF MANAGEMENT AND BUDGET
OFFICE OF FEDERAL FINANCIAL MANAGEMENT

FOR

FINANCIAL MANAGEMENT LINE OF BUSINESS

I. PURPOSE

The purpose of this agreement between the Department of the Treasury (Treasury) and the
Office of Management and Budget (OMB) is to transfer the Financial Management Line of
Business (FMLoB) to the Treasury’s Office of the Fiscal Assistant Secretary (OFAS) to serve
as the managing partner. As financial management oversight encompasses all federal
financial assistance including grants, the scope of the FMLOoB is being expanded to also
encompass the Grants Management Line of Business (GMLoB). The combined FMLoB
will be better positioned with the Administration’s strategy to align the financial assistance
and financial management communities around financial management systems priorities.
The FMLOoB is a Federal government-wide E-Government initiative charged with the
implementation of business-driven solutions that respond to the management needs of

participating agencies.
II. ROLES AND RESPONSIBILITIES

Treasury OFAS will:

Serve as the Project Management Office that provides end-to-end project management
support to the FMLOB initiative. Be a strategic managing partner to the Council of
Financial Assistance Reform (COFAR) and the Chief Financial Officers Council (CFOC)
in relation to the FMLoB and provide input and feedback on both policy and technology

matters related to FMLOoB initiatives.

e Define, analyze and implement options that will enable improved financial
management systems solutions for the financial management community to include
financial assistance program management and reporting.

¢ Provide ongoing leadership and direction for FMLOoB, based on the strategic plans and
direction of OMB, the COFAR and the CFOC.

e Prepare annual plans and budgets in concert with expected goals and deliverables.

e Provide progress reports to CFOC/COFAR on FMLOoB initiatives.

e Facilitate the interagency collection of funds, to include establishment of Memoranda


of Understanding (MOUs) with FMLoB participating agencies.

Collect and manage the FMLoB funds.

Engage in relevant activities as related to this MOU as they arise.

Report monthly in writing and orally to OMB on the status of any projects initiated
under this agreement and the report shall include amounts obligated and spent against

any funds provided.

OMB OFFM will:

Coordinate and develop priorities to be undertaken by OFAS on behalf of OMB in
coordination with the COFAR and CFOC.

Coordinate with OFAS for out-year planning and budgeting.

Ensure that COFAR and CFOC views and input are integrated into FMLoB strategic
planning.

Support OFAS in the collection of funds from agencies to ensure funds are collected
timely and provided to Treasury to support FMLoB activities.

Assist in the collection of any assessments.

Brief the CFO council on the tasks assigned under this agreement.

It is mutually agreed that:

Funding will be provided by identified agencies and authorized by OMB. Funding may
fluctuate depending on the established strategic priorities. Plans for annual priorities and
initiatives will be based on funding levels received. Treasury is not expected to provide
additional funding other than its appropriate share as being a CFO Act agency. The CFOC will
provide annual recommendations to OMB on funding amounts and allocations across priority
areas. Furthermore, both parties will work to determine what routine reporting requirements
of OMB are applicable to projects assigned under the FMLoB

111, AUTHORITIES

This MOU is authorized in accordance with the authority provided under:

The Economy Act, 31 U.S.C. 1535
Information Technology Management Reform Act of 1996 (ITMRA or
Clinger-Cohen), 40 U.S.C. 11302

IV. EFFECTIVE DATES

This agreement is effective January 31, 2013 or upon signature of both parties and remains
in effect until such time that both parties agree to terminate.


V. MODIFICATION AND TERMINATION

This agreement may be modified by mutual agreement of the parties in writing and is in
effect unless mutually terminated within agreed-upon timeframes

VI. CONTACTS

The agency representatives who will maintain liaison are:

Mark Reger

Deputy Assistant Secretary

Department of the Treasury

Office of the Fiscal Assistant Secretary
1500 Pennsylvania Avenue NW Rm. 2112
Washington, DC 20220

Phone: 202-622-0550

Fax: 202-622-0962

Email: Mark.Reger@Treasury.gov

Norman Dong

Deputy Controller

Office of Management and Budget

Office of Federal Financial Management Rm. 6025
Washington, DC 20503

Phone: 202-395-7587

Fax: 202-395-3952

Email: Norman_S_Dong@omb.eop.gov

VII. SIGNATURE

The following officials, on behalf of their respective agencies, agree to the terms and
conditions of this agreement.

Lh Ning = AE

Richard L. Gregg \ 7 cays Neite/”
Fiscal Assistant Secretary Contrél
The Department of the Treasury Office ‘Managemest and Budget