Through the development of the abacus, the first primitive mechanical adding machine, to the pocket calculator, and on to the enterprise financial management system of today, technology information technology has advanced in response to the need to manage finances. The same needs that have driven the development of financial management in general have also driven the same development within the Federal government. The founding fathers recognized the importance of sound financial management they made that clear in Article 1 of the U.S. Constitution. This is no less important today. However, the difference is that the Federal government has more resources to manage and better financial management tools at its disposal.
Good information comes from good information systems.
Vision adopted by the Chief Financial Officers Council Enabling government to work better and cost less requires program and financial managers, working in partnership using modern management techniques and integrated financial management systems, to ensure the integrity of information, make decisions, and measure performance to achieve desirable outcomes and real cost effectiveness. The vision for the future of Federal financial management shows an enterprise that will take advantage of the power of information technology to improve performance and cut costs. Today s Federal government has most of the tools methods and technology it needs to effectively manage the taxpayers money and to make good decisions.