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Financial Management Standards

Alert Message

Treasury released FY 2026 updates to the financial management business standards on November 14, 2025. The relevant components, guidance, templates, and other resources were updated accordingly.

Because of the recent lapse in appropriations, some other websites that refer to these materials have not been updated and may show the earlier version. We are working with those partners to make needed updates and ensure consistency. In the interim, the current version can be accessed through the links below. Please contact FMLoB@fiscal.treasury.gov with any questions.

 

The Bureau of the Fiscal Service is responsible for maintaining and maturing financial management standards. To do this, we work closely with other lines of business and standard setting agencies, federal agencies, the vendor community, and other stakeholders.

Standards are important because they establish consistent protocols that can be universally understood and adopted. Standards improve systems and processes, reduce waste, cut costs, and ensure consistency. Application of standards into financial systems and processes helps to ensure interoperability between financial and other supporting systems, supports accurate reporting and leads to automation and cost savings for federal agencies.  The federal financial management (FFM) standards are part of the Financial Management Capability Framework (FMCF), which is used as a basis for evaluating and ensuring that Financial Management (FM) Marketplace solutions and services meet baseline needs for agencies.

Currently, the standards consist of seven components, all of which are aligned to the Federal Integrated Business Framework.

 

Federal Financial Management Functions & Activities

Common financial management functions, and activities serve as the basis for understanding what services agencies need and solutions that should be offered. This list of 11 functions and 54 activities defines the financial management functions performed by a federal agency.

Federal Financial Management Business Capabilities (FFMSRs)

FFM Business Capabilities reflect the federal financial management system requirements (FFMSRs) that agency financial management systems must substantially comply with. These outcome-based business needs are mapped to Federal government authoritative references, forms, and data standards.

Federal Financial Management Business Use Cases

These agency “stories” document the key activities, inputs, outputs and other intersections to describe how the Federal government operates. They are organized into 11 end-to-end business processes that have a federal financial management impact.

Federal Financial Management Business Data Elements

This minimum set of business data elements reflects what is required to support the inputs and outputs identified in the business use cases, capabilities, business information exchanges and business reports.

Core FS-Pre Built Business Reports

Core FS providers are expected to have these reports pre-built and in their Core FS solution offering. These reports support FFM Functions and Activities and FFM Business Use Cases.

Core FS Pre-Built Business Information Exchanges (BIE’s)

Core FS solutions need to exchange data with other systems. Business rules provide the common exchanges of business information between two functional areas or between a functional area and a centralized service/solution.

FFM Service Measures

Define how the government measures successful delivery of outcomes based on timelines, efficiency, and accuracy targets for FFM outcomes and successful delivery of Cybersecurity, Electronic Records Management and Information Technology Services activities that support FFM activities.

 

The FFM standards are routinely updated to show changing needs and new requirements. Each updated component includes a change log to help users track the latest modifications. To streamline access to this information, we created a dynamic Power BI dashboard that consolidates all change logs into one, easy-to-navigate source. Users can filter the dashboard by component, workbook tab, change item or change summary to quickly understand how each component was modified in the latest update. 

Users can access the dashboard by clicking this link. The dashboard is not intended to replace or substitute a comprehensive review of the FFM standards or FMCF components. 
 

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Last modified 11/14/2025