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PSC Home | Administrative Operations |
Federal Occupational Health | Financial Management |
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Financial ManagementAccounting ServicesThe FMS provides a full range of financial and accounting services including commitment and fund accounting, funds control, disbursements, preparation of financial statements, all types of reporting, and assistance with financial problem solving, and program design. The FMS is able to offer its customer agencies assurance that all federal financial management system requirements and applicable Federal accounting and transaction standards are met. FMS uses the Core Accounting System (CORE) an online, real time mainframe application that accepts both manual and electronic input, performs accounting edits and validations, and produces accounting transactions for the general ledger and subsidiary ledgers. The FMS accounts for all costs, obligations, disbursements, advances, receivables, expense and revenue accruals, and supports administrative control of funds. Both standard and custom designed reports are available in hardcopy and electronic format, and customers are provided extensive online query capabilities. In addition, CORE reports can be accessed via the Web and the data downloaded to an Excel spreadsheet for local use. Performance Standards: Will submit financial reports within 5 days after the end of the covered period (monthly, quarterly, yearly, etc.). Timely recording of accounting events -- within 24 hours of receipt of electronic transactions and within 3 days of receipt of valid hardcopy documents. With close fiscal year within 15 days of year-end. Will meet Treasury goal of issuing 100% of eligible disbursements electronically. WIll exceed the OMB objective of paying at least 95% of invoices on time.
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