FFM Functions and ActivitiesVersion 1.0 

# Federal Financial Management (FFM)

# Functions and Activities

## March 31, 2022Version 1.0 

Final Government Review in Progress

This document contains proposed updates to the currently published Financial Management (FM) Standards and corresponding components of the Federal Integrated Business Framework (FIBF) that support capabilities defined for solutions and services in the FM QSMO Marketplace. Proposed updates are reflective of feedback provided by Federal agencies and industry which are currently being reviewed for approval. Once approved, updated/final versions will be published accordingly.

FFM Functions and ActivitiesVersion 1.0

**Lead. Transform. Deliver.** 				Department of the Treasury • Bureau of the Fiscal Service • Washington, DC 

2

Table of ContentsIntroduction	1Purpose	1Federal Financial Management Functions	2Summary of Updates in this Release	2Definitions	4FFM Functions and Activities	5

**Lead. Transform. Deliver.** 				Department of the Treasury • Bureau of the Fiscal Service • Washington, DC 

2

# Introduction

The Federal Financial Management (FFM) Functions and Activities are part of the Federal Integrated Business Framework (FIBF). The FIBF is a model that enables the Federal government to coordinate and document common business needs across agencies, focusing on outcomes, data, and cross-functional end-to-end business processes. FIBF can be used to drive performance discussions and investment decisions, as a model for acquiring and implementing government-wide solutions, and to establish roles and responsibilities for end-to-end process service delivery. In the Federal Financial Management (FFM) Functional Area, the FFM FIBF documents are included in the Financial Management Capability Framework (FMCF) that provides the common set of standards and capabilities that are the foundation for all offerings in the Financial Management (FM) Quality Service Management Office (QSMO) Marketplace. 

Refer to the Guide to the FM QSMO Marketplace for a description of each FMCF component and how the components relate to each other.

# Purpose

The Financial Management Functions and Activities List defines the Federal Financial Management (FFM) functions and activities that an agency performs to support its mission. The Federal Financial Management functional area has 11 functions (e.g., Payable Management) and 54 activities (e.g., Payment Disbursement). This list can be helpful when:

Going through an acquisition with a software vendor as an authoritative reference for the scope of financial management capabilities.

Determining the scope of the financial management activities performed by an agency that can then be linked to requirements and uses cases for further evaluation.

Onboarding new staff as a general awareness of financial management activities.

# Federal Financial Management Functions

# Summary of Updates in this Release

Lead. Transform. Deliver. 			             Department of the Treasury • Bureau of the Fiscal Service • Washington, DCPage 2 of 19

# Definitions

**Function ID**: The identifier for an FFM function.

**Activity ID**: The identifier for an FFM activity.

**Activity Name**: The name of the FFM activity.

**Activity Definition**: The description of the activity along with its applicability.

**Activity FFMSR Reference**: The FFMSR(s) that support the activity.

**Activity Measure**: Measure(s) associated the activity where applicable.

# FFM Functions and Activities

Lead. Transform. Deliver. 								   Department of the Treasury • Bureau of the Fiscal Service • Washington, DCPage 2 of 19

# image1.jpg

# image3.png

# image2.jpeg