Public Dollars Common Sense New Roles for Financial Managers

At last, the public sector has a framework for fiscal and management reform: the Chief Financial Officers Act, the Government Performance and Results Act, the Government Management Reform Act, the Chief Information Officers Act, and the Federal Financial Management Improvement Act. What is the reaction to the new mandates? Congressional leaders are taking accounting and performance measurement seriously. Chief financial officers, once found only in industry, now help lead the way to fiscally sound, cost effective public service. Federal financial managers, no longer content to be "money police," form partnerships with program managers and financial auditors to enhance service to citizens.

Federal financial management is changing: new concepts, new solutions, new tools, and new roles for CFOs and their organizations. Public Dollars, Common Sense shows big picture changes, plus details on the personal and professional skills critical to success. Topics include new laws and guidelines, financial management systems, asset management, accounting practices, annual financial report preparation and auditing, strategic planning, performance measurement, managerial cost accounting, internal controls, and many others.

The authors are with Pricewaterhouse Coopers' Washington Consulting Practice. Together, they have worked as members, senior managers, or consultants with the Federal CFO Council, Coast Guard, Defense Finance and Accounting Service, Environmental Protection Agency, Federal Accounting Standards Advisory Board, Federal Bureau of Investigation, Federal Deposit Insurance Corporation, General Service Administration, Internal Revenue Service, NASA, National Science Foundation, national security organizations, Office of Management and Budget, Patent and Trademark Office, Social Security Administration, and the Department of the Air Force, Army, Defense, Education, Energy, Interior, and Navy.

William R. Phillips, Partner, 17 years as a consultant in financial operations and business practice improvement

Bonnie L. Brown, Partner, 25 years as a manager and consultant to federal, state and local governments

C. Morgan Kinghorn, Jr., Partner, former CFO of the IRS, EPA comptroller and the OMB Director of Financial Management

Andy C. West, former career Army Officer, 25 years experience in planning, training, logistics and financial management