CFOC Charter

CFOC Charter



The Chief Financial Officers (CFOs) Act mandates the establishment of a Chief Financial Officers Council (CFO Council). This council is intended to support implementation of the CFO’s Act by: (a) providing a senior level forum for achieving consensus on financial management policies and priorities; and (b) serving as a mechanism for assuring communication of the importance of good financial management to senior officials.

Under the CFO Act, the CFO Council is specifically directed to:

“advise and coordinate the activities of the agencies of its members on such matters as consolidation and modernization of financial systems, improved quality of financial information, financial data and information standards, internal controls, legislation affecting financial operations and organizations, and any other financial management matter” (S.302(b)).


The CFO Council – - the CFOs and Deputy CFOs (DCFOs) of the largest Federal agencies and senior officials of the Office of Management and Budget and the Department of the Treasury – - work collaboratively to improve financial management in the U.S. Government.

Together, we seek to attain our Vision Statement:

“Enabling government to work better and cost less requires program and financial managers – working in partnership using modern management techniques and integrated financial management systems – to ensure the integrity of information, make decisions, and measure performance to achieve desirable and real cost effectiveness”.


The statute defines Council membership as:

• The OMB Deputy Director for Management (Chairperson)
• The Controller of OMB’s Office of Federal Financial Management
• The Fiscal Assistant Secretary of the Department of the Treasury
• The Chief Financial Officers defined in statutes

The Council has chosen to constitute its membership to include full membership for:

The Deputy Chief Financial Officers defined in statutes
•  The Deputy Controller of OMB’s Office of Federal Financial Management
•  The Commissioner, Financial Management Service, Department of the Treasury

The following selected groups will be included in CFO meetings on an ex-officio member basis:

•  General Accounting Office (GAO) Representative
•  President’s Council on Integrity and Efficiency (PCIE) Representative
•  Others designated by the Council’s Officers

In addition, there are several groups that will be permanently invited observers of meetings. They are:

•  Joint Financial Management Improvement Program
•  Small Agency Council (SAC)
•  Private Sector Council (PSC)

These ex officio and permanently invited observers may be invited to contribute to projects, as particular skills and expertise are needed.

At the option of the Officers, and considering advice from members, representatives of other organizations may be periodically invited to attend, observe, or contribute to meetings and activities. Such other representatives could include, but are not limited to, representatives from procurement, information resources management, personnel, regulatory affairs, and asset management communities within the Federal government.


By law, the Chairperson shall be the Deputy Director for Management of the Office of Management and Budget. Other, elected officers of the Council are:

•  Executive Vice Chair
•  Vice Chair for Programs
•  Vice Chair for Legislation
•  Secretary / Treasurer

The Executive Vice Chair shall be a Presidentially Appointed, Senate Confirmed CFO.

The four elected officers will be elected to serve two year terms. These officers will serve until a subsequent election is conducted. When all of the above elected officers are non-career employees, the Council shall elect a career Officer at Large who shall serve until a career member is elected to one of the above elected officer positions.

Officers shall be elected by majority vote of all members. Elections shall be conducted by secret ballot. If a majority vote is not gained in an election, the election shall be decided by another vote, selecting from the two top vote-getting members. Special elections will be conducted for unexpired terms when a vacancy exists.


The Council will meet monthly. Meetings will be scheduled, as much as possible, on the same day of the month and at the same time of day. At least once a year, the Council will convene for a full- day meeting in lieu of the regularly scheduled monthly meeting.

The agenda for meetings will be set in advance by the officers. The Executive Vice Chair shall conduct a monthly agenda setting meeting of officers and support staff to consider input from members and set the final meeting agenda. The Executive Vice Chair may establish a formal due date for member submission of agenda items. Agenda items will be focused on decision and matters for discussion.

When votes are taken, each Council member will have one vote. Members must be present to vote. Substitutes may attend the meeting when both a CFO and Deputy CFO are absent, but they may not vote.

Minutes of meetings will be prepared by the Secretary/Treasurer. Copies will be distributed to all members. The Secretary/Treasurer will maintain an official archive of all minutes and other official CFO Council documents.

Standing Committees and ad-hoc projects:

To address priority areas and projects, the Council will establish such standing committees as it sees fit. In addition, and as needed, ad-hoc task groups will be established. A Council member shall head each such standing committee and ad-hoc project group. Other members or their staff may serve on both committees and ad-hoc projects.

Quarterly status reports shall be prepared by each standing committee and active ad-hoc project group. These will be gathered by the Vice Chair or Programs and distributed to Council members. The Vice Chair for Programs will maintain an historical record of such reports.

Staff Support:

OMB and the Executive Vice Chair will provide primary staff support to the Council. This will be augmented by support form other Officers and members as necessary.

Adopted by Majority Vote on February 21, 1995, in Washington, DC.


•  Chair: (signed) John A. Koskinen
•  Executive Vice Chair: (signed) George Munoz
•  Vice Chair for Programs: (signed) Mitchell Laine
•  Vice Chair for Legislation: (signed) Anthony A. Williams
•  Secretary/Treasurer: (signed) Dennis Fischer