The Financial Management (FM) Standards are updated regularly to ensure they are kept current based on:

• Revisions to existing or new authoritative or other references
• Agency recommendations
• Solution/service provider recommendations
• Updates in other standards areas that have a touchpoint with Federal Financial Management (FFM)
• Feedback provided by the public or industry
• Administrative updates based on revisions to Federal Integrated Business Framework (FIBF) guidance documents or templates

For calendar year 2026, Treasury will issue two Financial Management Capability Framework (FMCF) releases, with four incremental comment periods. This approach will enable Core Financial System (FS) vendors to incorporate new requirements into their product roadmaps and provide agencies with insight into proposed changes. The FY 2026 Mid-Year release provides information to the FFM community in advance that will take effect with the publishing of the November 2026 release. 

The Bureau of the Fiscal Service (BFS) plans, researches, and prepares the FM Standards updates for Business Standards Council (BSC), public review, and OMB concurrence. The figure below provides an overview of the update process and activities. BFS collaborates with GSA's Office of Shared Solutions and Performance Improvement (OSSPI) through this process.

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