Quality Financial Services, Better Results

Every year it takes millions of individual financial transactions, which result in billions of dollars expended, just to run the United States federal government.

If that figure seems astounding, think about the amount of financial data that federal agencies must provide to comply with various legislative, regulatory and political initiatives on these transactions. Agencies are being required to provide more financial data than ever before, and must accomplish this with fewer staff resources.

Learn how to obtain quality financial services and better results with fewer resources through the Financial and Business Solutions (FABS) Schedule. GSA's FABS (Schedule 520) provides solutions for various financial dilemmas through a wide range of  financial services.  This multiple award schedule provides federal agencies with direct access to commercial agencies that can thoroughly address the needs of the federal financial community. These contractors are available to assist with the following types of financial services:

• Origination, evaluation, management, resolution and disposal of various assets;
• Financial audits, economy and efficiency audits, program audits, cost recovery audits and transportation audits;
• Full range of professional services in financial management;
• Budget formulation, execution and monitoring;
• Accounting;
• Consumer and commercial credit reports; and
• Compliance with the Government Performance and Results Act (GPRA), the Government Management Reform Act (GMRA), the Chief Financial Officers (CFO) Act, the Inspector General (IG) Act, and the Debt Collection Improvement Act (DCIA).

Financial Services Schedule

GSA realizes that agencies have limited staffing and budget resources, as well as varying needs.  That is why FABS  provides access to a multitude of professional financial services and allows for the ability to customize the services to meet specific agency needs. The FABS schedule allows for choice, flexibility, ease-of-use and access to quality firms in the financial arena (ranging from small business to the industry leaders).

Here are just a few examples of how GSA’s new FABS schedule can be used:

• Assess an asset portfolio and provide advice about what to keep, what to sell, or when to maintain partial ownership with a limited partnership agreement. After making portfolio structure decisions, the schedule can be used to manage, service and sell various government assets such as loans, revenue streams, real property or intangible assets.
• Conduct background checks for hiring purposes, process business and consumer loan applications, obtain past performance history, and assess the financial stability of potential contractors.
• Acquire reliable financial and performance information to meet changing financial needs.
• Perform various audits for agencies.