VA Fiscal Management Modernization Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill, the VA Fiscal Management Modernization Act, aims to strengthen the Department of Veterans Affairs’ (VA) financial management capabilities. It clarifies and expands the authority of the Assistant Secretary for Management, designating them as the Chief Financial Officer and outlining their responsibilities regarding budgeting, financial control, and reporting to Congress. The bill also establishes a Legislative and Congressional Budget Information Office to provide Congress with accurate and timely financial data, and increases the number of Deputy Assistant Secretaries within the Office of Management.
Key provisions
- Designates the Assistant Secretary for Management as the Chief Financial Officer of the VA.
- Outlines the Chief Financial Officer’s duties, including advising the Secretary, formulating the budget, and ensuring compliance with the Antideficiency Act.
- Creates a Legislative and Congressional Budget Information Office (LCBI Office) to provide Congress with certified financial information.
- Increases the number of Deputy Assistant Secretaries for Management to 21.
- Establishes specific roles and reporting structures within the Office of Management.
- Limits the functions of financial employees to avoid overlap with the LCBI Office.
- Requires the Secretary of Veterans Affairs to implement the changes within 180 days of the bill’s enactment.
- Clarifies the authority of the Chief Financial Officer to exercise functions under Title 31.
Who is affected
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