Chief Financial Officers Act of 1990

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The Chief Financial Officers Act of 1990, or CFO Act, 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. Among other measures, the Office of Management and Budget (OMB) was given greater authority over federal financial management. For each of 23 federal agencies, the position of chief financial officer was created. The Act also created a new position in the OMB, Deputy Director for Management, who is to be the government's chief financial management official.

The Committee on Government Reform oversees the management and infrastructure of the federal agencies, including those covered by the CFO Act.

The Department of Homeland Security is exempt from the CFO Act.

[edit] External links

• A booklet on the CFO Act, from the General Accounting Office
• Text of the CFO Act of 1990
• Where Is The Money FAQ: Who's In Charge