• The FM QSMO released its annual update to the Financial Management Capability Framework (FMCF). The FY 2025 FMCF update aligns with approved changes to Federal Financial Management (FFM) standards and includes other changes to financial management processes and data that impact core financial systems.

  Highlights of the FY 2025 FMCF update include:  

  • Implemented Accounting Classification Structure for the Governmentwide Spending Data Model (GSDM) and OMB A-11

  • Improved level of detail for Core FS Pre-Built Business Information Exchanges

  • Modernized FFM Business Use Cases for receivables

  • Increased alignment with current and emerging FM Authoritative and Other References

  • Enhanced document formatting, FIBF alignment and change tracking

  Summary release notes are available on the FMCF web page and each component also includes detailed changes specific to each document.

  (Update posted 11/15/2024)

The FM QSMO is excited to share that the U.S. Patent and Trademark Office (USPTO), in the Department of Commerce, has become the first agency to use the FM Marketplace for its core financial system needs! For more information, check out the news release on the Bureau of the Fiscal Service website.

The FM QSMO worked with USPTO to identify and match their needs with available Marketplace offerings.  The partnership between the FM QSMO and USPTO shows the value that the Marketplace can deliver to agencies. The USPTO joins several other agencies using the Marketplace to acquire financial management solutions and services from trusted providers.

The FM Marketplace features more than 100 solutions and services from commercial vendors, federal providers, and Treasury’s Fiscal Service. Agencies can directly get commercial financial management solutions and services from the Marketplace using SIN 518210FM of the GSA Multiple Award Schedule (MAS), which serves as the contract vehicle.

The Federal Financial Management (FFM) business standards, part of the Financial Management Capability Framework (FMCF), are available on Regulations.gov for public comment through August 19, 2024. 

The FMCF is used for evaluating and ensuring that Marketplace solutions and services, including core financial systems, meet baseline needs and comply with federal policies.

Your feedback helps ensure that business standards and the FMCF are comprehensive and usable as a foundation for agencies and the FM Marketplace.  Please e-mail FMQSMO@fiscal.treasury.gov with any questions.

The General Services Administration (GSA) recently issued Bulletin ETS 24-01 to inform agencies of the upcoming transition from ETS2 to ETSNext and give agencies guidance on how to prepare for and complete the transition. The ETS2 master contracts expire on June 3, 2027, and agencies will need to adopt ETSNext no later than February 2027.

All agencies with mandatory users should start engaging now with GSA to determine budgets and timelines for transition to ETSNext. This includes each agencies’ prioritization for financial management (FM) systems integration.

More information about the transition to ETSNext can be found in bulletin ETS 24-01 on the Federal Travel Regulation website at gsa.gov.

For your awareness, starting March 29, 2024, the Treasury Financial Manual (TFM) website will no longer be accessible and the TFM will only be available on the Treasury Financial Experience (TFX) website.

If you use the TFM regularly we suggest becoming familiar with the new TFM platform.

Promoting Payment Integrity and Financial Fraud Prevention: Request for Information (RFI)

The Department of the Treasury, Bureau of the Fiscal Service is seeking information about what financial fraud identification and management solutions exist in the market and also the tools and solutions both for reducing improper payments and preventing financial fraud.

More information about the RFI (RFI-FSA-24-065) is available on SAM.gov at https://sam.gov/opp/3fa9aed8e4f84aaca0967bf7e50b849d/view.