Long Description for the Global Financial Management System Vision and Concept Diagram

FY 2007 Financial Report
Bureau of Resource Management
November 2007
Report

Graphic showing the state of the Department's financial systems in FY 2003 and the end state beginning in FY 2007 as State Department implemented its global vision of a common worldwide core financial management system software platform.  FY2003 depicts four financial systems consisting of the Central Financial Management System (CFMS), Regional Financial Management System (RFMS), Accounting and Disbursing System (A&D) and the Overseas Financial Management System (OFMS) which provided information to Posts, Treasury and OMB, and Bureaus and other agencies services by the Department.  In FY 2007, State implemented the Global Financial Management System (GFMS) as the first step in our multi-year effort to establish a single global financial system, replacing the Department's 20 year old CFMS.   The CFMS provides a single integrated system, single information source, standard transactions, and consistent editing and reporting which will send and receive information from Posts, Bureaus and serviced agencies and Treasury and OMB. RFMS incorporates State's standard account structure and improves transaction standardization and timeliness between RFMS and GFMS.

 


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