Sep 21, 1990 · Chief Financial Officers Act of 1990 - Title I: General Provisions - Sets forth congressional findings with respect to the financial management systems of the Federal Government. Declares the purposes of this Act to be to improve such systems.

The Chief Financial Officers (CFO) Act of 1990 (Public Law 101–576) signed into law by President George H. W. Bush on November 15, 1990, is a United States federal law intended to improve the government's financial management, outlining standards of financial performance and disclosure.

GAO published a booklet to help agency managers and other interested parties: (1) become familiar with the Chief Financial Officers (CFO) Act of 1990, which gives the Office of Management and Budget (OMB) broad, new authority and responsibility for directing federal financial management, modernizing the government's financial management systems ...

2.4 Chief Financial Officers Act (1990) The CFO Act gave OMB new authority and responsibility for directing federal financial management, modernizing the government’s financial management systems, and strengthening financial reporting.

The Council was established by the Chief Financial Officers (CFO) Act of 1990 (Public Law 101-576). It is composed of the CFOs and Deputy CFOs of the largest Federal agencies, senior officials of OMB, and Treasury who work collaboratively to improve financial management in the U.S. Government.

This Act may be cited as the "Chief Financial Officers Act of 1990". 31 use 501 note. SEC. 102. FINDINGS AND PURPOSES. (a) FINDINGS.—The Congress finds the following: (1) General management functions of the Office of Manage­ ment and Budget need to be significantly enhanced to improve the efficiency and effectiveness of the Federal Government.

The President shall appoint or designate a Chief Financial Officer of the Department of Homeland Security under the amendment made by subsection (a) [amending this section] by not later than 180 days after the date of the enactment of this Act [Oct. 16, 2004].

Nov 17, 2005 · In 1990, the Chief Financial Officers (CFO) Act, heralded as the most comprehensive financial management reform legislation in 40 years, was enacted. The Act's goal is to improve management through reliable, useful, and timely financial and performance information for day-to-day decisionmaking and accountability.

Mar 25, 2025 · (a) Within 180 days of the date of this order, the OMB Director shall issue guidance that directs agencies described in 31 U.S.C. 901(b) (CFO Act agencies) to consolidate their core financial systems.

The Director shall approve each proposal which establishes an agency Chief Financial Officer in conformance with section 901 of title 31, United States Code, as added by this Act, and which establishes a financial management structure reasonably tailored to the functions of the agency.