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.”

TRES - 16595 - Treasury Financial Management Advisory Committee - Agency Authority

GENERAL INFORMATION

Committee Name	Treasury Financial Management Advisory Committee	Agency Name	Department of the Treasury
Fiscal Year	2004	Committee Number	16595
Original Establishment Date		Committee Status	Terminated
Actual Termination Date	4/19/2004	Committee URL
Actual Merged Date		Presidential Appointments*	No
New Committee This FY	No	Max Number of Members*	5
Terminated This FY	Yes	Designated Fed Officer Position Title*	Financial Project Manager
Merged This FY		Designated Federal Officer Prefix	Mr.
Current Charter Date	6/17/2003	Designated Federal Officer First Name*	Stuart
Date Of Renewal Charter		Designated Federal Officer Middle Name
Projected Termination Date		Designated Federal Officer Last Name*	Levy
Exempt From Renewal*	No	Designated Federal Officer Suffix
Specific Termination Authority	Agency Memorandum Dated 4/19/2004	Designated Federal Officer Phone*	202-622-1355
Establishment Authority*	Agency Authority	Designated Federal Officer Fax*	202-622-2318
Specific Establishment Authority*		Designated Federal Officer Email*	stuart.levy@do.treas.gov
Effective Date Of Authority*
Exempt From EO 13875 Discretionary Cmte
Committee Type*	Continuing
Presidential*	No
Committee Function*	Non Scientific Program Advisory Board

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*	Terminate
Legislation to Terminate Required	No
Legislation Status
How does cmte accomplish its purpose?*	As one of JFMIP’s six pilot committees, the Treasury Financial Management Advisory Committee will protect the public interest by providing recommendations and advice regarding the Department’s financial reporting process, the system of internal controls, the audit process, the process for monitoring compliance with laws and regulations, and its business conduct policies. The committee has the authority to review, analyze, and make recommendations on any matters within its scope of responsibility.
How is membership balanced?*	Since the most effective financial management advisory committees (audit committees) in the private sector are comprised of members with diverse skills and backgrounds, Treasury plans to establish a committee with diverse experience and skills. All members will be required to be free from any relationship that would interfere with the exercise of independent judgment as a member of the committee. All members must also be “financially literate” in order to function effectively as a committee member. We have developed an extensive set of Treasury-specific committee member qualifications/requirements based on best practices from the private sector for the formation of audit committees. The Secretary will utilize these qualifications/requirements to select a diverse/balanced committee of three to five members.
How frequent & relevant are cmte mtgs?*	Not Applicable
Why advice can't be obtained elsewhere?*	The Treasury is demonstrating its commitment and leadership in the area of financial integrity by establishing a Treasury Financial Management Advisory Committee. This is consistent with JFMIP’s initiative to have six cabinet-level agencies pilot the financial management advisory committee concept in the Federal government. As one of JFMIP’s six pilot committees, the Treasury Financial Management Advisory Committee will protect the public interest by providing recommendations and advice regarding the Department’s financial reporting process, the system of internal controls, the audit process, the process for monitoring compliance with laws and regulations, and its business conduct policies.
Why close or partially close meetings?	Not Applicable
Recommendation Remarks

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*	No	Action Reorganize Priorities*	No
Outcome Trust In Government	No	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	No	Action Other	No
Outcome Increased Customer Satisfaction	No	Action Comment	NA
Outcome Implement Laws/Reg Requirements	No	Grants Review*	No
Outcome Other	No	Number Of Grants Reviewed	0
Outcome Comment	NA	Number Of Grants Recommended	0
Cost Savings*	No	Dollar Value Of Grants Recommended	$0.00
Cost Savings Comment	NA	Grants Review Comment	NA
Number Of Recommendations*	0	Access Contact Designated Fed. Officer*	Yes
Number Of Recommendations Comment	NA	Access Agency Website	No
% of Recs Fully Implemented*	0.00%	Access Committee Website	No
% of Recs Fully Implemented Comment	NA	Access GSA FACA Website	No
% of Recs Partially Implemented*	0.00%	Access Publications	No
% of Recs Partially Implemented Comment	NA	Access Other	No
Agency Feedback*	No	Access Comment	NA
Agency Feedback Comment*	NA	Narrative Description*	Committee was terminated on 4/19/2004.

COSTS

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

Interest Areas

No interest areas selected for this committee.

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