Memorandum 10-26 Immediate Review of Financial Systems IT Projects

On June 28, 2010, the Office of Management and Budget (OMB) issued Memorandum 10-26, Immediate Review of Financial Systems IT Projects.  This Memorandum establishes government-wide policies associated with financial system modernizations.  These policies require Federal agencies to set the scope for financial system modernizations in a manner that reduces project costs, aligns projects more closely to top priority business needs, accelerates deployments, and improves the performance of the systems once deployed.

In order to execute this policy effectively, OMB, in consultation with the newly formed Financial Systems Advisory Board (FSAB) and the applicable Federal agency, is conducting a review of agency plans for financial modernizations to ensure consistency with the policies established in the Memorandum.  During this review period, Federal agencies will avoid investments in new contracts or task orders so that future investments reflect any potential changes to the financial system modernization plan resulting from the new policy.

At present, OMB anticipates that approximately 30 financial system projects will be reviewed for consistency with the new policy.  These are the core financial system projects at Treasury, HHS, DoD, DOC, DOT, DOE, DHS, HUD, VA, DOJ, DOI, EPA, OPM, USDA, SBA, NRC, DOL, Education, GSA, SSA, State/USAID, NASA, and NSF. Several agencies have more than one project.  In a limited number of cases, OMB, FSAB, and the applicable Federal agency are still determining whether certain systems appropriately fall within the scope of this review.

Below is a list of titles for projects that have been confirmed for review under the policies set forth in OMB Memorandum 10-26.

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