FACACLASSIC

Note: An Annual Comprehensive Review, as required by §7 of the Federal Advisory Committee Act, is conducted each year on committee data entered for the previous fiscal year (referred to as the reporting year). The data for the reporting year is not considered verified until this review is complete and the data is moved to history for an agency/department. See the Data From Previous Years section at the bottom of this page for the committee’s historical, verified data.

Details on agency responses to committee recommendations can be found under the Performance Measures section for each committee in the fields “Agency Feedback” and “Agency Feedback Comment.”

SBA - 21508 - Audit and Financial Management Advisory Committee - Agency Authority

GENERAL INFORMATION

Committee Name	Audit and Financial Management Advisory Committee	Agency Name	Small Business Administration
Fiscal Year	2025	Committee Number	21508
Original Establishment Date	6/1/2006	Committee Status	Chartered
Actual Termination Date		Committee URL
Actual Merged Date		Presidential Appointments*	No
New Committee This FY	No	Max Number of Members*	5
Terminated This FY	No	Designated Fed Officer Position Title*	Chief Financial Officer
Merged This FY		Designated Federal Officer Prefix	Ms.
Current Charter Date	1/26/2024	Designated Federal Officer First Name*	Kate
Date Of Renewal Charter	1/26/2026	Designated Federal Officer Middle Name
Projected Termination Date	11/29/2027	Designated Federal Officer Last Name*	Aaby
Exempt From Renewal*	No	Designated Federal Officer Suffix
Specific Termination Authority		Designated Federal Officer Phone*	202-205-6449
Establishment Authority*	Agency Authority	Designated Federal Officer Fax*	2022056720
Specific Establishment Authority*	Agency decision	Designated Federal Officer Email*	kate.aaby@sba.gov
Effective Date Of Authority*	8/22/2004
Exempt From EO 13875 Discretionary Cmte	Not Applicable
Committee Type*	Continuing
Presidential*	No
Committee Function*	Other Committee

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*	Continue
Legislation to Terminate Required	Not Applicable
Legislation Status	Not Applicable
How does cmte accomplish its purpose?*	Provides recommendations and advice regarding the Agency's financial management, including the financial reporting process, systems of internal controls, audit process and process for monitoring compliance with relevant laws and regulations. Provide independent and objective advice to the SBA Administrator, Inspector General, and Chief Financial Officer on the progress of the finanical statement audit and other issues related to the status of the Agency's financial condition.
How is membership balanced?*	The AFMAC shall be comprised of at least five members, including one Chairperson, as determined by the SBA's Administrator, who are free from any interest that would interfere with the exercise of independent judgment as a member of the Committee. Committee membership must be fairly balanced and diverse in terms of occupational background and type of financial expertise.
How frequent & relevant are cmte mtgs?*	Estimated Number of Meetings per Year - Two to Three Estimated
Why advice can't be obtained elsewhere?*	The AFMAC is established by the Administrator of the SBA to provide recommendations and advice regarding the Agency's finanical management, including the financial reporting process, systems of internal controls, audit process and process for monitoring compliance with relevant laws and regulations. The Committee may have access to confidential government information to form the basis of their recommendations and advice to SBA officials.
Why close or partially close meetings?	All meetings are open to the public and are advertised in the Federal Register
Recommendation Remarks	No meetings were held in FY2024 due to a change in the CFO position. This SBA is evaluating whether this committee has fulfilled its purpose and considering termination in FY2025.

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*	No	Action Reorganize Priorities*	Yes
Outcome Trust In Government	Yes	Action Reallocate Resources	No
Outcome Major Policy Changes	No	Action Issued New Regulations	No
Outcome Advance In Scientific Research	No	Action Proposed Legislation	No
Outcome Effective Grant Making	No	Action Approved Grants Or Other Payments	No
Outcome Improved Service Delivery	Yes	Action Other	No
Outcome Increased Customer Satisfaction	Yes	Action Comment	The Performance Management team and the Audit team have benefited from the AFMAC suggestions and recommendations
Outcome Implement Laws/Reg Requirements	Yes	Grants Review*	No
Outcome Other	No	Number Of Grants Reviewed	0
Outcome Comment	NA	Number Of Grants Recommended	0
Cost Savings*	Unable to Determine	Dollar Value Of Grants Recommended	$0.00
Cost Savings Comment	Not Applicable	Grants Review Comment	n/a
Number Of Recommendations*	0	Access Contact Designated Fed. Officer*	Yes
Number Of Recommendations Comment	no meeting in FY24	Access Agency Website	No
% of Recs Fully Implemented*	0.00%	Access Committee Website	No
% of Recs Fully Implemented Comment	no meetings in FY24	Access GSA FACA Website	Yes
% of Recs Partially Implemented*	0.00%	Access Publications	Yes
% of Recs Partially Implemented Comment	N/A	Access Other	Yes
Agency Feedback*	Yes	Access Comment	Meeting Minutes
Agency Feedback Comment*	Feedback is provided during subsequent Audit and Financial Management Advisory Committee (AFMAC) meetings. No meetings and no feedback in FY24.	Narrative Description*	The AFMAC was established by the Administrator of the SBA to provide recommendations and advice regarding the Agency’s financial management, including the financial reporting process, systems of internal controls, audit process and process for monitoring compliance with relevant laws and regulations. The committee appointed no members in FY24 and held no meetings

COSTS

1. Payments to Non-Federal Members*		1. Est Paymnts to Non-Fed Membrs Nxt FY*
2. Payments to Federal Members*		2. Est. Payments to Fed Members Next FY*
3. Payments to Federal Staff*		3. Estimated Payments to Federal Staff*
4. Payments to Consultants*		4. Est. Payments to Consultants Next FY*
5. Travel Reimb. For Non-Federal Membrs*		5. Est Travel Reimb Non-Fed Membr nxtFY*
6. Travel Reimb. For Federal Members*		6. Est Travel Reimb For Fed Members*
7. Travel Reimb. For Federal Staff*		7. Est. Travel Reimb to Fed Staf Nxt FY*
8. Travel Reimb. For Consultants*		8. Est Travel Reimb to Consltnts Nxt FY*
10. Other Costs		10. Est. Other Costs Next FY*
11. Total Costs	$0.00	11. Est. Total Next FY*	$0.00
Date Cost Last Modified	2/13/2025 12:55 PM	Est. Fed Staff Support Next FY*
Federal Staff Support (FTE)*		Est Cost Remarks
Cost Remarks

Interest Areas

Category Area Business Small Business Finance Finance Government Federal Government

Custom Links

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