[Agriculture Fact Book 98]

Office of the Chief Financial Officer

The Chief Financial Officer has responsibility for oversight of all financial management activities relating to USDA programs and operations. The Office of the Chief Financial Officer (OCFO) directs, manages, provides policy guidance, and coordinates financial management activities and operations. It ensures compliance throughout the Department with applicable accounting standards and principles, and ensures adequate controls over asset management, including cash management operations, real property, equipment, and inventories. Through partnerships, it provides financial management leadership and service to support quality program delivery in the Department.

OCFO is responsible for developing and maintaining an integrated departmental accounting and financial management system which provides complete, reliable, consistent, and timely financial information that is responsive to the needs of program managers. OCFO is also responsible for ensuring auditable financial statements.

OCFO operates the largest automated administrative servicing operation in the Federal Government--the National Finance Center (NFC) in New Orleans, LA. The NFC processes salary and benefit payments for more than 450,000 Federal employees, performs administrative services for more than 100 Federal departments and agencies, and acts as recordkeeper for the Federal Government’s Thrift Savings Plan (TSP). The TSP currently services a $65 billion account for 2.3 million Federal employees and retiree members.

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