Office of the Chief Financial Officer (Department of Energy)

From USApedia
Office of the Chief Financial Officer (Department of Energy)
Type: Executive Departments (Sub-organization)
Parent organization: Department of Energy
Employees:
Executive: Chief Financial Officer
Budget:
Address: 1000 Independence Ave SW, Washington, DC 20585, USA
Website: https://www.energy.gov/cfo/office-chief-financial-officer
Creation Legislation: Chief Financial Officers Act of 1990
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Office of the Chief Financial Officer (Department of Energy)
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Mission
The Office of the Chief Financial Officer (OCFO) at the Department of Energy (DOE) is responsible for providing leadership in financial management, ensuring fiscal accountability, and supporting DOE's mission through effective budget formulation, execution, and financial oversight. It aims to promote transparency, efficiency, and integrity in all financial activities.
Services

Budget Formulation; Financial Management; Accounting; Internal Controls; Financial Reporting

Regulations

Office of the Chief Financial Officer (Department of Energy) (OCFO) oversees all financial aspects of the DOE, ensuring that the department's resources are managed effectively to support its missions in energy, science, and environmental protection. OCFO is central to strategic planning, budget execution, and maintaining financial integrity across DOE's diverse programs.

Official Site

Mission

The mission of the OCFO is to provide strategic financial leadership to DOE, ensuring sound financial management practices that support the department's objectives. This includes accurate budget formulation, effective resource allocation, comprehensive financial reporting, and the implementation of robust internal controls to prevent fraud and waste[1].

Parent organization

The OCFO is part of the U.S. Department of Energy (DOE), playing a critical role in its financial operations and strategic planning[2].

Legislation

The Office of the Chief Financial Officer was established under the Chief Financial Officers Act of 1990, which mandated the creation of CFO offices in major federal agencies to improve financial management practices.

Partners

  • Office of Management and Budget (OMB) for budget coordination.
  • U.S. Treasury for financial transactions and debt management.
  • Government Accountability Office (GAO) for audits and oversight.

Number of employees

The exact number of employees in the OCFO isn't specified, but it includes financial analysts, accountants, budget officers, and other financial management professionals.

Organization structure

The structure of the OCFO includes:

Leader

Led by the Chief Financial Officer.

Divisions

  • Budget for planning and execution of DOE's budget.
  • Finance for accounting, financial reporting, and internal controls.
  • Corporate Business Operations for operational finance support across DOE.

List of programs

  • Budget Formulation for preparing DOE's annual budget requests.
  • Financial Reporting to ensure transparency and compliance.
  • Internal Controls to safeguard assets and ensure reliable financial reporting.

Last total enacted budget

Specific budget details for the OCFO are not publicly detailed, as they are part of the DOE's broader budget.

Staff

The staff includes experts in federal budgeting, accounting, and financial management, but exact numbers are not documented.

Funding

Funding for the OCFO comes from the DOE's budget to support its financial management duties.

Services provided

OCFO provides services such as budgeting, financial analysis, accounting, treasury management, audit coordination, and oversight of financial systems. It ensures that DOE's financial operations are conducted with integrity, efficiency, and in compliance with federal financial management laws and standards[3].

Regulations overseen

While not directly overseeing regulations, OCFO ensures DOE's compliance with financial management regulations, including those from OMB, Treasury, and GAO.

Headquarters address

1000 Independence Ave SW, Washington, DC 20585, USA

History

The OCFO was established following the CFO Act of 1990, which marked a significant shift towards more accountable and transparent financial management in federal agencies. Since then, OCFO has played a pivotal role in managing DOE's complex financial operations, supporting its scientific, energy, and environmental initiatives with fiscal responsibility[4].

External links

References

  1. ↑ "Mission". Office of the Chief Financial Officer. https://www.energy.gov/cfo/mission. 
  2. ↑ "U.S. Department of Energy". DOE. https://www.energy.gov/. 
  3. ↑ "Services". Office of the Chief Financial Officer. https://www.energy.gov/cfo/services. 
  4. ↑ "History". Office of the Chief Financial Officer. https://www.energy.gov/cfo/history. 
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