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Financial ManagementFunctions and Activities ListFebruary 2021Page 1Last Updated: May 2020
FM Functions and Activities ListPurposeThe Financial Management Functions and Activities List defines the service areas, functions, andactivities that an agency performs to support its mission. Federal Financial Management (FFM) – one of13 service areas – defines the standard functions and activities agencies can perform. The FinancialManagement service area has 11 functions (e.g., Payable Management) and 54 activities (e.g., PaymentDisbursement). This list can be helpful when: Going through an acquisition with a software vendor as an authoritative reference for the scope offinancial management capabilities. Determining the scope of the financial management activities performed by an agency that canthen be linked to requirements and uses cases for further evaluation. Onboarding new staff as a general awareness of financial management activities.Federal Financial Management Service FunctionsFunction 0FFM.080FFM.090FFM.100FFM.110Function NameBudget ExecutionFinancial Asset Information ManagementPayable ManagementRevenue ManagementReimbursable ManagementReceivable ManagementDelinquent Debt ManagementCost ManagementGeneral Ledger ManagementFinancial ReconciliationFinancial / Performance ReportingDefinitions Function ID: The derived identifier for an FFM function. Activity ID: The derived identifier for an FFM activity. Activity Definition: Full definition and description of the activity along with its applicability. Activity Authoritative Reference: Location of authoritative FM Standard Reference that supports theactivity. Activity Measure: Details on how to measure the activity where applicable.Page 2Last Updated: May 2020
Summary of Updates in this ReleaseSectionFFM.060.010FFM.110.020Change AreaActivity MeasureDescriptionSummary of ChangeRemoved activity measurePrepare financial statements and footnotes required byOMB Circular A-136; Verify financial statements and otherrequired financial reports can be traced to general ledgeraccount balances and are compiled in accordance withthe USSGL Crosswalks; Determine and record eliminationsrequired to generate consolidated financial statements;Includes generating variance analyses for timelysubmissions, balance sheet, statement of net cost,statement of changes in net position, statement ofbudgetary resources, reconciling SF-133 to the statementof budgetary resources, statement of custodial activity,statement of social insurance, statement of changes insocial insurance amounts, required supplementaryinformation, and required supplementary stewardshipinformation, as applicablePage 3Last Updated: May 2020
FM Functions and Activities ListFunctionIDActivity IDActivity NameActivity Definition (Current Service Definition)FFM.010.010Budget Setup andMaintenanceFFM.010.020Fund Allocation and Implement controls designed to detect or preventControloverspending for defined accounting segments; Executestatutory limitation control of funds restrictingobligations and expenditures to amounts authorized bylaw; Execute administrative control of funds restrictingobligation and expenditure from each account to thelower of the amount apportioned by OMB or theamount available for obligation and/or expenditure;Update funds control rulesFFM.010Establish and maintain budgetary resource reportingattributes; Receive agency spend and operating plan;Establish and maintain appropriated fund subdivisionsbefore any of the appropriated funds are expended,according to OMB apportionments and agency spendand operating plan; Set up the funds control structure,levels, and accounting segments; Record the TreasuryAccounting Fund Symbol (TAFS)/ Program/ Project/Activity (PPA) information and organizationalinformation for allotment and allocation; Includessetting up direct, reimbursable, revolving, contract,borrowing, financing, liquidating, advancedappropriation, anticipated collections, and nonexpenditure transfer funds; Includes recordingappropriation warrants, apportionments, allotments,allowances, allocations, reapportionments, transferallocations, continuing resolutions, rescissions, andreprogramming actionsActivityAuthoritative Ref.FFMSR 2.1.1Recording BudgetAuthorityActivity MeasureNumber of budgetdistribution linesFFMSR 2.1.2Recording BudgetObligation andOutlaysPage 4Last Updated: May 2020
FM Functions and Activities ListFunctionIDActivity IDActivity NameActivityAuthoritative Ref.Perform budgetary resource and budget executionFFMSR 2.1.3analysis; Provide cumulative budgetary resource andReportingbudget execution reports to governing financialBudgetarymanagement authorities (e.g. OMB); Provide reports of Resources andimpacts from unusual events, such as sequestration,Budget Execution;FFMSR 2.3.2rescission, and deferrals; Provide reports onAntideficiency Act violations; Includes generating SFVerifying132 and SF-133 and providing information needed for TraceabilityBudget Formulation; Verify required budgetary reports(e.g., SF-133) and general ledger account balances canbe traced to appropriate supporting documentationActivity Definition (Current Service Definition)Activity ancial AssetInformationProcessing Property, Plant,and EquipmentRecord financial asset type, category, value, and value FFMSR 1.1.3adjustments (e.g., depreciation, impairment); Includes Managing Financialfinancial asset information processing for purchase and Asset Informationlease transactions, inventory, and softwareFFM.020.020Financial AssetInformationProcessing - LoansRecord financial asset type, category, value, and value FFMSR 1.1.3adjustments (e.g., allowance for uncollectible amounts, Managing FinancialAsset Informationsubsidy allowance)FFM.020.030Financial AssetInformationProcessing Heritage Assetsand StewardshipLandFinancial AssetInformationProcessing Federal Oil and GasResourcesRecord financial asset type, category, value, and valueadjustments (e.g., depreciation, impairment)FFMSR 1.1.3Managing FinancialAsset InformationRecord financial asset type, category, value, and valueadjustmentsFFMSR 1.1.3Managing FinancialAsset InformationFFM.020FFM.020.040Page 5Last Updated: May 2020
FM Functions and Activities ListFunctionIDActivityAuthoritative Ref.FFMSR 1.1.3Managing FinancialAsset InformationActivity IDActivity NameActivity Definition (Current Service Definition)FFM.020.050Financial AssetInformationProcessing - OtherFederal AssetsRecord financial asset type, category, value, and valueadjustments; Includes financial asset informationprocessing for seized and forfeited assets andinvestments in Treasury securitiesFFM.020.060Financial AssetInformationReportingProvide financial asset information (e.g., asset type,value) for financial reporting and reconciliation withinformation in the asset management systemsFFMSR 1.1.3Managing FinancialAsset InformationFFM.030.010Payee Setup andMaintenanceEstablish and maintain federal and nonfederal payeeinformation; Validate payee information against otherpayee information sources (e.g. SAM, Do Not Pay List)FFMSR gementRecord commitments (if applicable); Record obligations FFMSR 2.2.1for both procurement and non-procurementEstablishingPayablespurchases; Includes decommitments/ modifications,liquidating commitments, deobligations/ modifications,and liquidating obligations; Includes capturingobligation information as required to support theDigital Accountability and Transparency Act of 2014(DATA Act); Includes verifying the validity of theundelivered orders balanceFFM.030.030Payment Processing Record intragovernmental invoices; Route invoices for- Intragovernmental approval by appropriate party; Provide paymentPaymentsinformation to execute intragovernmental fundstransfers; Confirm payments were settled properly;Record payment adjustments; Includes processingpayments for incurred expenses and payments inadvanceFFM.030FFMSR 2.2.1EstablishingPayables;FFMSR 2.2.2Making PaymentsActivity MeasureNumber of payeesestablishedNumber ofintragovernmentalpaymentsrecordedPage 6Last Updated: May 2020
FM Functions and Activities ListFunctionIDActivityAuthoritative Ref.FFMSR 2.2.1EstablishingPayables;FFMSR 2.2.2Making PaymentsActivity IDActivity NameActivity Definition (Current Service Definition)Activity MeasureFFM.030.040PaymentProcessing - PayrollPaymentsRecord payroll payments generated by payroll service;Reconcile payroll service information with financialmanagement information; Record paymentadjustmentsFFM.030.050PaymentProcessing - TravelTemporary Duty(TDY) and LocalPaymentsRecord approved vouchers for reimbursement oftemporary duty (TDY) and local travel expenditures;Match travel vouchers to authorizing obligationdocuments; Generate payment transactions; Resolvepayment issues; Record payment adjustments; Auditpayments; Includes processing payments for E2s andSF-1164s, incurred expenses, and payments inadvanceFFMSR 2.2.1EstablishingPayables;FFMSR 2.2.2Making PaymentsNumber of TDYand local g - TravelPCS PaymentsRecord approved vouchers for travel expendituresrelated to temporary and permanent change of station(TCS/PCS); Match travel vouchers to authorizingobligation documents; Generate payment transactions;Resolve payment issues; Record payment adjustments;Audit payments; Includes processing payments forincurred expenses and payments in advanceFFMSR 2.2.1EstablishingPayables;FFMSR 2.2.2Making PaymentsNumber of PCStravel paymentsgeneratedNumber of payrollpaymentsrecordedPage 7Last Updated: May 2020
FM Functions and Activities ListFunctionIDActivity IDActivity NameActivity Definition (Current Service Definition)ActivityAuthoritative Ref.FFMSR 2.2.1EstablishingPayables;FFMSR 2.2.2Making PaymentsActivity MeasureFFM.030.070PaymentProcessing CommercialPaymentsRecord receiving and acceptance reports; Receive andrecord invoices; Match invoice, order, acceptance andreceiving report (as appropriate); Route invoices forapproval by appropriate party; In accordance withfederal regulations, calculate discounts for earlypayments, and interest and penalties for latepayments; Hold payments that fail validation; Generatepayment transactions; Resolve invoice and paymentissues; Record credits and payment adjustments; Auditpayments; Includes processing payments for incurredexpenses, payments in advance, credit cardstatements, and non-travel temporary and permanentchange of station (TCS/PCS) costs (e.g., relocationservices vendor, household goods shipment); Includescapturing commercial payment information as requiredto support the Digital Accountability and TransparencyAct of 2014 (DATA Act) reportingNumber cessing GrantPaymentsRecord requests for grant payment; Match grantpayment requests to obligating documents; Routegrant payment requests for approval by appropriateparty (as needed); Generate payment transactions;Resolve payment issues; Record credits and paymentadjustments; Audit payments; Includes processingpayments for incurred expenses and payments inadvance; Includes capturing grant paymentinformation as required to support the DigitalAccountability and Transparency Act of 2014 (DATAAct) reportingFFMSR 2.2.1EstablishingPayables;FFMSR 2.2.2Making PaymentsNumber of grantpaymentsgeneratedFFM.030.090PaymentProcessing LoanPaymentsRecord requests for loan payment; Match loanpayment requests to obligating documents; Route loanpayment requests for approval by appropriate party(as appropriate); Generate payment transactions;Resolve payment issues; Record paymentadjustments; Audit paymentsFFMSR 2.2.1EstablishingPayables;FFMSR 2.2.2Making PaymentsNumber of loanpaymentsgeneratedPage 8Last Updated: May 2020
FM Functions and Activities ListFunctionIDActivity Definition (Current Service Definition)ActivityAuthoritative Ref.FFMSR 2.2.1EstablishingPayables;FFMSR 2.2.2Making PaymentsActivity IDActivity NameFFM.030.100PaymentProcessing - OtherPayments (Loans,Foreign, andMiscellaneousPayments)Record receiving reports; Record invoices; Matchinvoice, order, and receiving report (as appropriate);Route invoices for approval by appropriate party;Complete foreign exchange conversions for foreignpayments; Generate payment transactions; Resolveinvoice and payment issues; Record paymentadjustments; Audit payments; Includes processingpayments for incurred expenses and payments inadvanceFFM.030.110PaymentDisbursementGenerate disbursement schedules from paymenttransactions; Perform quality assurance validations;Certify disbursement schedules; Warehousedisbursement schedules for transmission to TreasuryFFMSR 2.2.2Making PaymentsFFM.030.120PaymentConfirmation andIssue ResolutionRecord disbursement status, confirmation, andidentification information; Provide disbursementstatus, confirmation, and identification informationFFMSR 2.2.2Making PaymentsFFM.030.130Payment ReportingProvide payment transaction, Prompt Pay, ElectronicFFMSR 2.2.3Funds Transfer (EFT) payment, and improper payment Reporting oninformation to support payment reporting activities;PaymentsGenerate and provide payment reports to IRS andpayee when applicable (e.g., 1099-MISC); Providedisbursement summary and detail information tosupport financial reconciliation activities; Includesproviding payment information to Travel Management,Grants Management, and Loans Managementfunctions, as applicableActivity MeasureNumber of foreignand miscellaneouspaymentsgeneratedNumber ofdisbursementschedulesgeneratedPage 9Last Updated: May 2020
FM Functions and Activities ListFunctionIDFFM.040FFM.050Activity IDActivity NameActivity Definition (Current Service Definition)ActivityActivity MeasureAuthoritative Ref.FFMSR 1.1.5Managing Revenuesand Other FinancingSourcesFFM.040.010Revenue Processing Record federal government revenue or other financingsource information; Perform revenue reconciliations;Resolve issues; Record revenue adjustmentsFFM.040.020Revenue ReportingProvide revenue and other financing sources disclosure FFMSR 1.1.5and supplementary information for agency andManaging Revenuesand Other Financinggovernment-wide reportingSourcesFFM.050.010ReimbursableAgreement Setupand MaintenanceEstablish and maintain customer, agreement, andunfilled customer order (UCO) information; Establishprojects, as appropriate, to accumulate costs; Requestadvance payments; Includes setup and maintenance ofInteragency Agreements (IAA) and federal andnonfederal agreements; Includes all pertinentcustomer information for trading partner processingFFMSR 1.1.5Managing Revenuesand Other FinancingSources; FFMSR2.2.4 EstablishingReceivablesNumber bursableInvoicingReview costs incurred for delivering goods/services;Generate invoices and customer account statements;Generate nonfederal and intragovernmental invoices;Establish receivables; Incorporate cost informationwhen generating invoicesFFMSR 1.1.5Managing Revenuesand Other FinancingSources; FFMSR2.2.4 EstablishingReceivablesNumber ofreimbursablereceivablesestablishedPage 10Last Updated: May 2020
FM Functions and Activities ListFunctionIDActivityAuthoritative Ref.FFMSR 1.1.5Managing Revenuesand Other FinancingSources;FFMSR 2.2.5Managing DebtActivity IDActivity NameActivity Definition (Current Service Definition)Activity MeasureFFM.050.030ReimbursableReceipt ProcessingMonitor/confirm funds were transferred from federalagency trading partners; Receive payments fromnonfederal trading partners or payment informationfrom Treasury; Match funds transfers/collections toinvoices; Prepare and record collections and deposits;Process returned negotiable instruments (e.g.,returned check because of insufficient funds or closedaccount); Includes processing of billed and unbilledcollections, and researching and resolving collectionsnot clearly identified to an ncile reimbursable activity on the orders; Resolvereconciliation issues; Work with trading partner toresolve unsettled invoices; Apply credit memos andadjustments; Assess interest, penalties andadministrative fees; Determine whether to transferreceivable for delinquent debt collectionFFMSR 1.1.5Managing Revenuesand Other FinancingSources;FFMSR 2.2.5Managing DebtNumber 050.050ReimbursableCloseoutReview orders' financial status to confirm final costswere accumulated and invoiced; Liquidate unfilledcustomer order balances; For overpayments, generateintragovernmental/miscellaneous payment request;Close ordersFFMSR 1.1.5Managing Revenuesand Other FinancingSources;FFMSR 2.2.5Managing DebtNumber bleReportingProvide earned unbilled information with tradingpartners; Analyze and report on reimbursable costs,receivables, and receipts; Provide deposit summaryand detail information to support financialreconciliation activitiesFFMSR 1.1.5Managing Revenuesand Other FinancingSources;FFMSR 2.2.6Reporting on DebtNumber ofreimbursablefunds transfers/collectionsprocessedPage 11Last Updated: May 2020
FM Functions and Activities ListFunctionIDActivity IDActivity NameActivity Definition (Current Service Definition)ActivityAuthoritative Ref.FFMSR 2.2.4EstablishingReceivablesFFMSR 1.1.5Managing Revenuesand Other FinancingSources;FFMSR 2.2.4EstablishingReceivablesActivity MeasureFFM.060.010Payer Setup andMaintenanceEstablish and maintain federal and nonfederal payerinformationFFM.060.020Public ReceivableSetup and BillingInvoicingRecord receivables; Generate invoices and remit todebtors; Includes applying cost information whengenerating invoicesFFM.060.030Public ReceiptProcessingReceive direct payments made by public or paymentinformation from Treasury; Match payments receivedto invoices and payer account or determine they aremiscellaneous receipts (e.g., user fees retained by theagency or other collections that must be deposited tothe General Fund of the U.S. Government); Prepareand record collection deposits; Process credits forinstances of overpayment; Process returnednegotiable instruments (e.g., returned check becauseof insufficient funds or closed account); Includesreceipt and processing of miscellaneous receipts,processing of billed and unbilled collections, andresearching and resolving collections not clearlyidentified to an agreementFFMSR 1.1.5Number of publicManaging Revenues receipt collectionsand Other Financing recordedSources;FFMSR 2.2.5Managing DebtFFM.060.040Credit Memo andAdjustmentProcessingCommunicate with federal agency and debtor;Resolve issues; Record receivable credit memos andadjustmentsFFMSR 1.1.5Managing Revenuesand Other FinancingSources;FFMSR 2.2.5Managing DebtFFM.060Number of publicreceivablesestablishedNumber of publicreceivable creditmemos andadjustmentsrecordedPage 12Last Updated: May 2020
FM Functions and Activities ListFunctionIDFFM.070Activity IDActivity NameActivity Definition (Current Service Definition)ActivityAuthoritative Ref.FFMSR 1.1.5Managing Revenuesand Other FinancingSources;FFMSR 2.2.5Managing DebtFFM.060.050Public ReceivableMonitoring andMaintenanceAnalyze status of receivables; Contact debtors; Assessinterest, penalties, and administrative fees; Determinewhether to transfer receivables for delinquent debtcollectionFFM.060.060Public Receivableand CollectionReportingProvide receivable and collection status information tosupport federal receivable and collection reportingactivities; Provide public receivable information tocredit reporting agencies; Provide deposit summaryand detail information to support financialreconciliation activities; Generate Treasury Report onReceivables (TROR); Includes providing receivable andcollection information to Loans Management andSales Order and Fulfillment Management functions, asapplicableFFM.070.010Delinquent DebtCollectionGenerate and send dunning notices, with due process FFMSR 2.2.5language, to alert the payers of debt delinquent status; Managing DebtDetermine allocation of amounts collected (e.g., firstto penalties and administrative costs, second tointerest, then to accounts receivable); Updatereceivables based on agency negotiated installmentplan or compromise agreement; Request agencyinternally offset a federal payment; Consult agency’slegal counsel to determine whether to refer debts tothe Department of Justice for litigation or use otherlitigation authority; Refer debts to Treasury’s DebtManagement Services (DMS) for cross-servicing basedon agency advice and as soon as due processrequirements are met (i.e., 120 days delinquent);Includes processing of fines, penalties, andadministrative feesActivity MeasureFFMSR 1.1.5Managing Revenuesand Other FinancingSources;FFMSR 2.2.6Reporting on DebtNumber ofdelinquent debtsreferred toTreasury forcollectionPage 13Last Updated: May 2020
FM Functions and Activities ListFunctionIDFFM.080Activity IDActivity NameActivity Definition (Current Service Definition)ActivityAuthoritative Ref.FFMSR 2.2.5Managing DebtFFM.070.020Delinquent DebtWrite-off andCloseoutMake recommendations to agency to write offdelinquent debts older than two years; Appropriatelyclassify written-off debts as currently not collectible(CNC) or closed outFFM.070.030Delinquent DebtReportingProvide delinquent debt status information to supportfederal receivable and collection reporting activities;Provide delinquent debt information to creditreporting agencies; Provide deposit summary anddetail information to support financial reconciliationactivities; Generate and provide cancellation of debtreports to IRS and debtor; Generate Treasury Reporton Receivables (TROR)FFMSR 2.2.6Reporting on DebtFFM.080.010Cost ManagementSetup andMaintenanceSet up and maintain projects/responsibility segments/cost centers, cost pools and cost objects to assign,allocate, or accumulate costs; Establish project/responsibility segment/ cost center spend limitsFFMSR 1.2.1Determining CostsFFM.080.020Cost Accumulationand AllocationAccumulate direct and indirect costs; Capture costFFMSR 1.2.1allocation basis; Determine cost allocations andDetermining CostsIntragovernmental entity costs by cost object/pool andproject/responsibility segment/cost centerFFM.080.030Cost ReportingAnalyze and report on costs by cost object andproject/responsibility segment/cost center; Includesproviding cost information to budget formulation andreimbursable and public receivable invoicing activitiesActivity MeasureNumber ofdelinquent debtswritten offFFMSR 1.2.1Determining CostsPage 14Last Updated: May 2020
FM Functions and Activities ListFunctionIDFFM.090Activity IDActivity NameActivityAuthoritative Ref.FFMSR 1.1.1Establish and maintain general ledger accountclassifications, categories, and subcategories consistent Defining GLwith the USSGL accounts; Establish and maintainAccounts andproprietary and budgetary account attributes; Establish Attributes;and maintain attributes to support agency financialFFMSR 1.4.1performance and operations reportingDefining FederalFunding Attributesto Align FinancialManagementInformation withPerformance GoalsActivity Definition (Current Service Definition)FFM.090.010General LedgerSetup andMaintenanceFFM.090.020General LedgerPostingReceive general ledger account transaction information FFMSR 1.1.2provided by supporting financial managementPosting GLoperations; Post general ledger proprietary, budgetary, Transactionsand memorandum account transactions; Includesposting manual journal vouchers, adjustments to thegeneral ledger, individual and aggregated transactionsfrom subledgers, and transactions funded, obligated,or expended over multiple years to general ledgeraccounts that do not closeFFM.090.030Accrual andLiability/AssetProcessingRecord, adjust, and liquidate budgetary and financial(proprietary) accruals, Record allowance foruncollectible amounts; Record actual and estimatedliabilities; Includes, but is not limited to,intragovernmental liabilities, accrued employees'wages and entitlement benefits, and other liabilitiesFFM.090.040Period End ClosingActivity MeasureFFMSR 1.1.4Managing FinancialLiabilityInformation;FFMSR 1.1.5Managing Revenuesand Other FinancingSources;FFMSR 1.2.1Determining CostsClose and open accounting periods; Record period-end FFMSR 1.1.2accounting entries; Includes month-end and year-endPosting GLclosings and closing non-fiduciary and fiduciaryTransactionsaccountsPage 15Last Updated: May 2020
FM Functions and Activities ListFunctionIDActivity IDActivity NameActivity Definition (Current Service Definition)ActivityAuthoritative Ref.FFMSR 2.3.2VerifyingTraceabilityActivity MeasureFFM.100.010Reconciliation ofGeneral Ledgerand SubledgersReconcile general ledger account relationships/ tiepoints; Verify general ledger account balances can betraced to aggregated or discrete agency transactionsand aggregated or discrete agency transactions can betraced to the point of origination and sourcedocuments; Identify and record correctionsFFM.100.020Reconciliation ofIntragovernmentalActivityManage intragovernmental suspense activity;Reconcile intragovernmental activity transactions;Resolve issues; Record adjustments; Includes nonexpenditure transfer transactionsFFMSR 1.1.2Posting GLTransactions;FFMSR 1.1.3Managing FinancialAsset Information;FFMSR 1.1.4Managing FinancialLiabilityInformation; FFMSR1.2.1Determining CostsFFM.100.030Reconciliation withTreasury BalanceRecord Treasury's general ledger account balance andtransaction data for the agency; Prepare general ledgeraccount, disbursement, and deposit reconciliationworksheets; Review, reclassify, and reconcile fundactivity and balances; Includes reconciliation of fundbalance, general ledger accounts, disbursements, anddeposits with TreasuryFFMSR 2.3.1Reconciling FundBalance withTreasuryFFM.100Page 16Last Updated: May 2020
FM Functions and Activities ListFunctionIDActivityAuthoritative Ref.FFMSR 1.3.1Prepare statements of accountability and foreigncurrency reports, Verify required financial reports can Providing GLbe traced to general ledger account balances; Includes, Information; FFMSRbut is not limited to, Government-wide Treasury2.3.2 VerifyingAccount Symbol Adjusted Trial Balance (GTAS)Traceabilityreporting, transactional posting to the CentralAccounting Reporting System (CARS), and financialassistance reporting to USAspendingActivity IDActivity NameFFM.110.010Treasury repare financial statements and footnotes required byOMB Circular A-136; Verify financial statements andother required financial reports can be traced togeneral ledger account balances and are compiled inaccordance with the USSGL Crosswalks; Determine andrecord eliminations required to generate consolidatedfinancial statements; Includes generating varianceanalyses for timely submissions, balance sheet,statement of net cost, statement of changes in netposition, statement of budgetary resources, reconcilingSF-133 to the statement of budgetary resources,statement of custodial activity, statement of socialinsurance, statement of changes in social insuranceamounts and required supplementary information.FFMSR 1.3.1Providing GLInformation; FFMSR2.3.2 VerifyingTraceabilityFFM.110.030Cash Forecastingand ReportingPrepare cash flow projections; Report large dollarrequirements for deposits and disbursementsFFMSR 2.2.2Making Payments;FFMSR 2.2.3Reporting onPayments;FFMSR 2.2.5Managing DebtFFM.110Activity Definition (Current Service Definition)Activity MeasurePage 17Last Updated: May 2020
FM Functions and Activities ListFunctionIDActivity IDActivity NameActivity Definition (Current Service Definition)FFM.110.040FinancialPerformance andOperationalReportingProvide general ledger information for agency-specificfinancial reports; Verify required financial reports canbe traced to general ledger account balances; Includesproviding financial performance and operationalinformation to agency program officesFFM.110.050Internal Control/ComplianceReviewsImplement standard internal control and complianceassurance procedures; Provide documentation tosatisfy “Prepared By Client” requests from auditors;Prepare cycle memos; Provide sample information anddocumentation for compliance with other guidance,such as OMB Circular A-123; Record adjustmentsbased on audit findingsActivityAuthoritative Ref.FFMSR 1.3.1ProvidingGL Information;FFMSR 1.4.1Defining FederalFunding Attributesto Align FinancialManagementInformation withPerformanceGoals; FFMSR 2.3.2VerifyingTraceabilityActivity MeasureFFMSR 2.3.2VerifyingTraceabilityPage 18Last Updated: May 2020
The Financial Management Functions and Activities List defines the service areas, functions, and activities that an agency performs to support its mission. Federal Financial Management (FFM) - one of . Management service area has 11 functions (e.g., Payable Management) and 54 activities (e.g., Payment Disbursement). This list can be helpful .
