Office of the Chief Financial Officer (Department of Education)

Office of the Chief Financial Officer (Department of Education) Type: Government Parent organization: [[U.S. Department of Education]] Employees: Executive: Chief Financial Officer Budget: Address: 400 Maryland Avenue, SW, Washington, DC 20202 Website: https://www.ed.gov Creation Legislation: [[Department of Education Organization Act of 1979]] Wikipedia: Office of the Chief Financial Officer (Department of Education)

Office of the Chief Financial Officer (Department of Education) No results This map created from a Cargo query ()

Mission To provide robust financial management and stewardship of educational funds, ensuring fiscal accountability, transparency, and integrity in all financial operations of the Department; supporting educational initiatives through effective resource management.

Services Financial management; Budget formulation; Grants administration; Financial systems management

Regulations

Office of the Chief Financial Officer (OCFO)

The Office of the Chief Financial Officer (OCFO) is responsible for the financial management of the U.S. Department of Education, including budgeting, financial reporting, grants administration, and ensuring the fiscal integrity of all Departmental operations. OCFO plays a critical role in managing the Department's financial resources to support educational programs effectively.

Official Site

Mission

The mission of OCFO is to manage the Department of Education's financial resources with the highest level of integrity, efficiency, and transparency. OCFO aims to ensure that public funds are used effectively to promote educational excellence and equity by providing strategic financial advice, managing budgets, and overseeing grants and contracts.

Parent organization

OCFO operates within the U.S. Department of Education, directly supporting its financial and budgetary needs across various educational programs and initiatives.

Legislation

OCFO was established under the Department of Education Organization Act of 1979, which set up the Department's structure including financial management offices.

Partners

• Federal Office of Management and Budget (OMB)
• Government Accountability Office (GAO)
• Various educational institutions and state agencies for grant administration

Number of employees

The exact number of employees within OCFO isn't publicly specified.

Organization structure

• Budget Service oversees the formulation, execution, and analysis of the Department's budget.
• Financial Management Service manages accounting, financial reporting, and internal controls.
• Grants Policy and Oversight Staff handles policy development and oversight for grant management.
• Systems and Technology Service manages financial systems and technology solutions.

List of programs

OCFO does not directly run educational programs but supports them through:

• Budget formulation and execution for educational programs
• Grants administration for federal education funding
• Financial oversight of Department initiatives

Last total enacted budget

Details on OCFO's specific budget are not publicly itemized; it's part of the overall Department of Education budget.

Leader

The Office is headed by the Chief Financial Officer.

Services provided

OCFO provides financial management services which include budget planning, execution, and monitoring; financial reporting; audit coordination; grants and contracts management; and the development and maintenance of financial systems. It ensures compliance with accounting standards and federal financial management laws.

Regulations overseen

While not directly overseeing regulations, OCFO ensures financial operations comply with federal financial management regulations, including adherence to the Chief Financial Officers Act, the Government Performance and Results Act, and various OMB Circulars.

Headquarters address

400 Maryland Avenue, SW, Washington, DC 20202

Website

https://www.ed.gov

Wikipedia article

wikipedia:U.S. Department of Education#Office of the Chief Financial Officer