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Bill116th CongressFiled Feb 12, 2020Government Operations and Politics
S. 3287

CFO Vision Act of 2020

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What it doesSummary passed senate (Dec 16, 2020)

CFO Vision Act of 2020

This bill establishes or modifies provisions to provide for standardized government-wide financial management requirements.

Each agency Chief Financial Officer must oversee and provide leadership in the areas of budget formulation and execution, planning and performance, risk management, internal controls, financial systems, and accounting.

The bill requires the government-wide financial management plan to include actions for improving financial management systems, strengthening the federal financial management workforce, and linking performance and cost information to budget decision-making.

The bill requires (1) the development of financial management performance-based metrics, and (2) an assessment of performance by such metrics to be included in the government-wide and agency-level financial management plans and status reports. Specifically, each agency shall annually assess and make a conclusion on the effectiveness of its internal controls over financial reporting and key financial management information.

What just happenedDec 17, 2020

Held at the desk.

Who’s behind it

Sen. Enzi, Michael B. [R-WY](R-WY)Sponsor
10 cosponsors4 D6 R
Read on Congress.gov
10cosponsors1committees13actions1amendments6subjects
  1. Dec 17, 2020FloorH15000

    Held at the desk.

  2. Dec 17, 2020FloorH14000

    Received in the House.

  3. Dec 17, 2020Floor

    Message on Senate action sent to the House.

  4. Dec 16, 2020Floor

    Passed Senate with an amendment by Unanimous Consent. (text: CR S7560-7561)

  5. Dec 16, 2020Floor17000

    Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S7560-7561)

  6. Dec 16, 2020Floor

    The committee substitute as amended agreed to by Unanimous Consent. (text: CR S7558-7560)

  7. Dec 16, 2020Floor

    Measure laid before Senate by unanimous consent. (consideration: CR S7558-7561)

  8. Oct 19, 2020Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 572.

  9. Oct 19, 2020Committee

    Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment in the nature of a substitute. With written report No. 116-278.

    Homeland Security and Governmental Affairs Committee
  10. Oct 19, 2020Committee14000

    Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment in the nature of a substitute. With written report No. 116-278.

    Homeland Security and Governmental Affairs Committee
  11. Jul 22, 2020Committee

    Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.

    Homeland Security and Governmental Affairs Committee
  12. Feb 12, 2020IntroReferral

    Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S1043-1044)

    Homeland Security and Governmental Affairs Committee
  13. Feb 12, 2020IntroReferral10000

    Introduced in Senate

Passed SenateDec 16, 202055

CFO Vision Act of 2020

This bill establishes or modifies provisions to provide for standardized government-wide financial management requirements.

Each agency Chief Financial Officer must oversee and provide leadership in the areas of budget formulation and execution, planning and performance, risk management, internal controls, financial systems, and accounting.

The bill requires the government-wide financial management plan to include actions for improving financial management systems, strengthening the federal financial management workforce, and linking performance and cost information to budget decision-making.

The bill requires (1) the development of financial management performance-based metrics, and (2) an assessment of performance by such metrics to be included in the government-wide and agency-level financial management plans and status reports. Specifically, each agency shall annually assess and make a conclusion on the effectiveness of its internal controls over financial reporting and key financial management information.

Reported to SenateOct 19, 202025

CFO Vision Act of 2020

This bill establishes or modifies provisions to provide for standardized government-wide financial management requirements.

Each agency Chief Financial Officer must oversee and provide leadership in the areas of budget formulation and execution, planning and performance, risk management, internal controls, financial systems, and accounting.

The bill requires the government-wide financial management plan to include actions for improving financial management systems, strengthening the federal financial management workforce, and linking performance and cost information to budget decision-making.

The bill requires (1) the development of financial management performance-based metrics, and (2) an assessment of performance by such metrics to be included in the government-wide and agency-level financial management plans and status reports.

Introduced in SenateFeb 12, 2020

CFO Vision Act of 2020

This bill establishes or modifies provisions to provide for standardized government-wide financial management requirements.

Each agency Chief Financial Officer must oversee and provide leadership in the areas of budget formulation and execution, planning and performance, risk management, internal controls, financial systems, and accounting.

The bill requires the government-wide financial management plan to include actions for improving financial management systems, strengthening the federal financial management workforce, and linking performance and cost information to budget decision-making.

The bill requires (1) the development of financial management performance-based metrics, and (2) an assessment of performance by such metrics to be included in the government-wide and agency-level financial management plans and status reports.

CFO Vision Act of 2020 — Informed