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Chief Financial Officers Act of 1990 (4862 words) |
 | This Act may be cited as the Chief Financial Officers Act of 1990. |
| Financial management functions of the Office of Management and Budget need to be significantly enhanced to provide overall direction and leadership in the development of a modern Federal financial management structure and associated systems. |
| Chair the Chief Financial Officers Council established by section 302 of the Chief Financial Officers Act of 1990. |
| Chief Financial Officers Act of 1990 Summary (1911 words) |
| In 1990 the CFO Act was adopted to improve the general and financial management practices of the federal government by establishing a structure for the central coordination of financial management. |
| For example, financial statements include information about the ways budgeted funds were spent, the proportion of taxes and other receivables collected, the condition of physical assets, and the extent of financial obligations associated with various commitments. |
| 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. |
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