The Bureau of the Fiscal Service (BFS) provides federal financial management (FFM) updates to agencies and industry providers throughout the year that support executing financial processes, reporting and other activities. We also communicate updates to policies, procedures, and instructions about financial management in the federal government.

We’re working to coordinate our communication of these updates to better enable you, our stakeholders, to disseminate this information in your organizations and plan any needed changes to processes or systems.

We'll continue to look for opportunities to streamline our practices to improve your experiences.

Guidance and System Updates

Recent Additions

• Proposed updates to the FM Standards for the second quarter of our FY 2027 release schedule are posted on Regulations.gov for review and comment. Changes in this quarter focus on capturing details of the Centralized Receivables Service (CRS) across several documents which include Federal Financial Management (FFM) Business Data Elements, Functions and Activities, Business Capabilities, and Core FS Pre-Built Business Information Exchanges (BIE). A summary of changes can be viewed on our FFM Change Log dashboard. The comment period is open through Friday, April 10, 2026.
   
• OMB Memorandum M-26-10 Reinforcing Transparency, Accountability, and Oversight of Federal Technology was published March 31, 2026. 
   
• The FY 2025 Financial Report of the U.S. Government was published March 19, 2026.
   
• An update to OMB Circular A-123 was published March 10, 2026. 
   
• TFM Volume 1, Part 4a, Chapter 6000: Financial Integrity was published in March 2026. This chapter provides financial integrity requirements applicable to federal agencies, including agencies disbursing federal funds through the Bureau of the Fiscal Service. This chapter provides information on:
  • Implementation of statutory and Executive Branch financial integrity requirements. 
  • Do Not Pay requirements applicable to all federal agencies.
  • Payment verification requirements for all federal agencies whose payments are disbursed by Fiscal Service.
     

Updates are listed in chronological order, starting with most recent.

Guidance Updates

#	Guidance Updates	Resource Links
8	Financial Management Business Standards: Treasury released the FY 2026 updates to the financial management business standards on November 14, 2026. The relevant Financial Management Capability Framework (FMCF) components, guidance, templates, and other resources were updated accordingly and are available on the FM QSMO webpages. Other websites that refer to these materials may show the earlier version.	FMCF
7	Federal Accounting Standards Advisory Board: The Federal Accounting Standards Advisory Board (FASAB) released its FY 2025 annual report and accompanying three-year plan January 16, 2026, highlighting recent accomplishments and outlining current projects and timelines.	FASAB
6	TFM Volume 1, Part 5, Chapter 4600: TFM Volume 1, Part 5, Chapter 4600: Treasury Lockbox Network was published in December 2025. The chapter added language to align with Executive Order (EO) 14247.	TFM Volume 1, Part 5, Chapter 4600
5	TFM Volume 1, Part 5, Chapter 2000: TFM Volume 1, Part 5, Chapter 2000: Depositing Domestic Checks And Cash Received In Over The Counter (OTC) Collections was published in December 2025. The chapter updated guidance pertaining to Executive Order (EO) 14247 with information on: All Electronic Collections Guidance (General) Exceptions and Waivers from Electronic Collections Requirements Exception/ Waiver Request Process Records of Checks Received	TFM Volume 1, Part 5, Chapter 2000
4	Current Value of Funds Rate (CVFR): Treasury’s Bureau of the Fiscal Service updated and published the new CVFR for calendar year 2026 in the Federal Register on January 2, 2026.	CVFR Bulletin No. 2026-01
3	Governmentwide Spending Data Model (GSDM): The Governmentwide Spending Data Model (GSDM) v1.2 Annual Release deployed on December 19, 2025. Updates in this release include modified data elements about financial assistance type, alignment of the Interface Definition Document (IDD) with Federal Procurement Data System (FPDS) Data Dictionary updates, and alignment with Governmentwide Treasury Account Symbol Adjusted Trial Balance System (GTAS) validations.	GSDM
2	U.S. Standard General Ledger (USSGL): The USSGL issues bulletins containing updates to federal accounting guidance through the Treasury Financial Manual (TFM). The Fiscal Year (FY) 2026 February bulletin was issued January 30, 2026. Additional bulletins will be issued June 2026 and September 2026.	USSGL Bulletins
1	Do Not Pay: The Do Not Pay team provided updated Do Not Pay onboarding guidance to agencies to support compliance with the Payment Integrity Information Act of 2019 (PIIAA), Executive Order 14249 and OMB Memorandum M-25-32 in December 2025.	Do Not Pay DoNotPay@fiscal.treasury.gov

System Updates

#	System Updates	Resource Links
4	Central Accounting Reporting System (CARS): In February 2026, as part of Fiscal Service's system compliance requirements, the SAM Public Website was decommissioned. The Central Accounting Reporting System (CARS) - Agency Standards Report (ASR) module and Connect.gov provide TAS/BETC data.	Connect.gov
3	G-Invoicing: Release 8.0 was deployed on January 23, 2026.	G-Invoicing
2	Go.gov: The Initial Operating Capability (IOC) launch occurred on Tuesday, January 20, 2026.	GO.gov
1	Bureau of the Fiscal Service (BFS) System Re-platforming Initiative: BFS is migrating applications used by federal agencies to support reporting and transactional services to cloud platforms. We have engaged with agencies during this process, especially as testing windows approach. This work is targeted to conclude in late FY 2026.	FiscalCX@fiscal.treasury.gov

If your agency is interested in a comprehensive, agency-specific summary of BFS work under way that may impact financial systems and business processes, please contact FiscalCX@fiscal.treasury.gov.