CFO Vision Act of 2020

Bill: 116-s-3287
Sponsor: Sen. Enzi, Michael B. [R-WY]
Introduced: 2020-02-12 in the Senate
Policy area: Government Operations and Politics
Subjects: Accounting and auditing
Budget process
Congressional oversight
Executive agency funding and structure
Federal officials
Performance measurement

Summary:
action_date: 2020-02-12
text: 

CFO Vision Act of 2020

 
This bill establishes or modifies provisions to provide for standardized government-wide financial management requirements.
 
Each agency Chief Financial Officer must oversee and provide leadership in the areas of budget formulation and execution, planning and performance, risk management, internal controls, financial systems, and accounting. 
 
The bill requires the government-wide financial management plan to include actions for improving financial management systems, strengthening the federal financial management workforce, and linking performance and cost information to budget decision-making.
 
The bill requires (1) the development of financial management performance-based metrics, and (2) an assessment of performance by such metrics to be included in the government-wide and agency-level financial management plans and status reports.

action_date: 2020-10-19
text: 

CFO Vision Act of 2020

 
This bill establishes or modifies provisions to provide for standardized government-wide financial management requirements.
 
Each agency Chief Financial Officer must oversee and provide leadership in the areas of budget formulation and execution, planning and performance, risk management, internal controls, financial systems, and accounting. 
 
The bill requires the government-wide financial management plan to include actions for improving financial management systems, strengthening the federal financial management workforce, and linking performance and cost information to budget decision-making.
 
The bill requires (1) the development of financial management performance-based metrics, and (2) an assessment of performance by such metrics to be included in the government-wide and agency-level financial management plans and status reports.

action_date: 2020-12-16
text: 

CFO Vision Act of 2020

 
This bill establishes or modifies provisions to provide for standardized government-wide financial management requirements.
 
Each agency Chief Financial Officer must oversee and provide leadership in the areas of budget formulation and execution, planning and performance, risk management, internal controls, financial systems, and accounting. 
 
The bill requires the government-wide financial management plan to include actions for improving financial management systems, strengthening the federal financial management workforce, and linking performance and cost information to budget decision-making.
 
The bill requires (1) the development of financial management performance-based metrics, and (2) an assessment of performance by such metrics to be included in the government-wide and agency-level financial management plans and status reports. Specifically, each agency shall annually assess and make a conclusion on the effectiveness of its internal controls over financial reporting and key financial management information.


Legislative actions:
action_date: 2020-12-17
text: Held at the desk.
action_date: 2020-12-17
text: Received in the House.
action_date: 2020-12-17
text: Message on Senate action sent to the House.
action_date: 2020-12-16
text: Passed Senate with an amendment by Unanimous Consent. (text: CR S7560-7561)
action_date: 2020-12-16
text: Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S7560-7561)
action_date: 2020-12-16
text: The committee substitute as amended agreed to by Unanimous Consent. (text: CR S7558-7560)
action_date: 2020-12-16
text: Measure laid before Senate by unanimous consent. (consideration: CR S7558-7561)
action_date: 2020-10-19
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 572.
action_date: 2020-10-19
text: Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment in the nature of a substitute. With written report No. 116-278.
action_date: 2020-10-19
text: Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment in the nature of a substitute. With written report No. 116-278.
action_date: 2020-07-22
text: Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
action_date: 2020-02-12
text: Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S1043-1044)
action_date: 2020-02-12
text: Introduced in Senate