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Despite the abundance of modern solutions for transforming financial planning practices, agency finance and budget offices have been some of the last areas to modernize. This increased visibility enables informed decision making, organization-wide strategicplanning, and collaboration both within and between agencies.
The bipartisan legislation, currently making its way through Congress, aims to reauthorize and strengthen the Technology Modernization Fund (TMF), which has enabled agencies to modernize legacy systems , enhance cybersecurity and improve service delivery to citizens, through 2031. Ready to learn more?
However, Congress has yet again missed the deadline to pass any of the spending bills that set the overall annual budget for most federal agencies and determine which new or existing programs get funded. Long-term planning and the strategic use of taxpayer dollars, which fund federal agencies, fall to the wayside. What’s next?
Address budgeting silos. We’re typically budgeted by business line, so that provides incentives for focusing on your own organization and line item, rather than thinking horizontally across the department from the [constituents’] perspective,” observed Morton. Overcome These Obstacles. But agencies also need to stick to their mission.
The Legislation Within the Bipartisan Infrastructure Deal. It’s important that agencies prepare for the time and resources needed to hire a variety of positions such as budget experts, construction workers, skilled tradespeople, environmental engineers, and more. Transportation and Bridge Funding.
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