[Code of Federal Regulations] [Title 44, Volume 1] [Revised as of October 1, 2006] From the U.S. Government Printing Office via GPO Access [CITE: 44CFR2.19] [Page 19-21] TITLE 44--EMERGENCY MANAGEMENT AND ASSISTANCE CHAPTER I--FEDERAL EMERGENCY MANAGEMENT AGENCY, DEPARTMENT OF HOMELAND SECURITY PART 2_ORGANIZATION, FUNCTIONS, AND DELEGATIONS OF AUTHORITY-- Table of Contents Subpart A_Organization, Functions, and Delegations of Authority Sec. 2.19 Office of Financial Management. (a) Mission. The Office of Financial Management promotes sound financial management and accountability throughout the Agency by providing financial guidance, information, and services to FEMA management, its employees, and the Agency's customers. (b) Functions. This office reports directly to the Director of FEMA regarding financial management matters and is headed by the Chief Financial Officer. The principal functions of the Office of Financial Management are: (1) Oversight of all financial management activities relating to the programs and operations of the Agency, including fund manager for all Agency funds; (2) Development, operation, and maintenance of an integrated Agency accounting and financial management system, including internal and external financial reporting; (3) Oversight of the Agency's internal control guidance and review program; (4) Direction, management, and provision of policy guidance and oversight of Agency financial management personnel, activities, and operations; (5) Preparation of the annual report described in 31 U.S.C. 902(a)(6) to the Director of FEMA and to the Office of Management and Budget; (6) Oversight of and responsibility for the formulation and execution of the [[Page 20]] Agency's budget and accounts for actual expenditures; (7) Preparation and submission of timely performance reports to the Director of FEMA and operating units; (8) Review, on a biennial basis, of the fees, royalties, rents, and other charges imposed by the Agency for services and things of value it provides, and recommendation of revision of those charges to reflect costs incurred by the Agency in providing those services and things of value. (c) Authority. The position of Chief Financial Officer was created by statute (Agency Chief Financial Officers Act, as amended, 31 U.S.C. 901-1114, 3511-3521). The Chief Financial Officer is authorized to exercise the duties and powers set forth in that statute. The Chief Financial Officer is specifically authorized to: (1) Supervise the activities and functions of the Office of the Financial Management and oversee all financial management activities relating to the programs and operations of the Agency. (2) Direct, manage, and provide policy guidance and oversight of the Agency financial management personnel, activities and operations. (3) Establish and maintain an integrated Agency accounting and financial management system, including financial reporting and internal controls, that-- (i) Complies with applicable accounting principles, standards, and requirements and standards prescribed by the Office of Management and Budget, the General Accounting Office, and the Department of the Treasury; (ii) Provides for complete, reliable and timely information, that is prepared on a uniform basis, and that is responsive to the financial management needs of the Agency; and, (iii) Complies with any other requirements applicable to such systems. (4) Prepare and submit a financial statement that conforms to the requirements of 31 U.S.C. 902 and 3515. Develop and implement the 5-year financial management plan as required by 31 U.S.C. 902(a)(5). (5) Develop the Agency's financial management plans and budgets, and review legislative proposals and other programmatic proposals to provide advice to the Director on the financial implications of such proposals. (6) Develop and implement Agency asset management systems, including systems for cash management, credit management, debt collection, and property and inventory management and control. (7) Review on a biennial basis the fees, royalties, rents and other charges imposed by the Agency for services and things of value it provides, and make recommendations to the Director on revising those charges to reflect actual costs incurred by the Agency in providing those services and things of value. Premiums and other policy holder charges that relate to the issuance of policies (National Flood Insurance and Crime Insurance programs) are set by the Federal Insurance Administrator pursuant to Federal law and regulation. (8) Develop, operate and maintain an Administrative Fund Control System that provides, for accurate and timely data on the status of each account. This Administrative Fund Control System shall comply with appropriate statutory requirements and regulations issued by General Accounting Office, Office of Management and Budget, the Department of the Treasury, and other central administrative agencies. (9) Establish and maintain the appropriate accounts designated by the Department of the Treasury, the General Accounting Office, and Office of Management and Budget and such subsidiary records as may be necessary for accounting, audit and management purposes. Establish and maintain controls for appropriations and other special limitations required by law. Maintain reliable accounting records that will be the basis for preparing and supporting the budget requests of the Agency, controlling the execution of the budget and providing financial information required by law and regulation. (10) Oversee the implementation of internal control systems that conform with rules, circulars, and other directives issued by General Accounting Office, Office of Management and Budget, and the Department of the Treasury. Report to the Director, as required by [[Page 21]] law and regulation, whether the Agency's internal control systems and other financial systems and processes comply with applicable law and regulation. (11) Develop and implement administrative standards and cost principles for the Agency's assistance programs in conformity with rules, circulars, and other directives that are issued by the General Accounting Office, the Office of Management and Budget, and the Department of the Treasury. (12) Develop and maintain procedures for approving requisitions for disbursing funds, reports of current accounts rendered by disbursing officers, and other financial and accounting documents involving FEMA, the General Accounting Office, the Department of the Treasury, and the Office of Management and Budget. (13) Certify to the General Accounting Office any charge against any officer or agent entrusted with public property, arising from any loss and accruing by this person's fault, to the Government as to the property so entrusted to this person. (14) Approve all expenditures and receipt all vouchers and other documents necessary to carry out FEMA's appropriations and programs. (15) Certify that all required documents, information and approvals respecting fiscal transactions are present; verify or cause to be verified the accuracy of the financial computations, the consistency of the information included in the various documents; and determine, or cause to be determined, that the financial transactions of the Agency are in strict accordance with the law, regulations and decisions. (16) Authorize officers and employees to certify vouchers. (17) Receive and credit amounts received to the applicable appropriation of FEMA or to the miscellaneous receipts account. (18) Request cashier designation and resolution from the Department of the Treasury, and designate cashiers to serve in FEMA. (19) Approve invitational travel for the Office of Financial Management. (20) Have access to records and documents as required by 31 U.S.C. 902(b) (1)(A), (1)(B), and (1)(C). Access to records and documents is subject to the limitations in 31 U.S.C. 902(b)(2).