In fiscal 2015, the Department of Education had $90,029 million in outlays and 3,862 total employment. The chief financial officer oversees the Office of the Chief Financial Officer (OCFO) and the following divisions within the organization: Financial Improvement and Post-Audit Operations, Contracts and Acquisitions Management and Financial Management Operations. In 2015, the chief financial overview specifically oversaw 182 full-time equivalents.
• Develops and maintains integrated accounting and financial management systems.
• Oversees the recruitment, selection and training of personnel to carry out agency financial management functions, as well as manages, trains and provides policy guidance and oversight of these personnel and their activities.
• Implements agency asset management systems, including systems for cash management, credit management, debt collection and property and inventory management and control.
• Manages the financial execution of the agency budget and actual expenditures.
• Provides financial and performance reports to staff, overseers and stakeholders.
• Ties the budget and performance to outcomes.
• Takes the lead role in enterprise risk management.
• Serves as the principal advisor to the secretary and senior officials on all matters related to financial management, financial management systems, financial control and accounting, cooperative agreements and acquisition management and related training.
• Oversees credit management issues and trends relative to student financial assistance programs and makes recommendations and develops alternative strategies based on sound principles of credit and financial management.
• Develops, manages and provides policy guidance and oversight of the department’s fiscal management activities and operations. Provides leadership and direction in the areas of internal control and assessment, financial management training, post audit activities, debt collection and indirect cost determination.
• Prepares and transmits reports on chief financial officer functions to the secretary, the Congress and OMB.
• Fulfills the responsibilities of the chief acquisition officer.
• Develops, manages and provides regulatory, policy and procedural guidance and oversight to the department’s acquisition system and completes acquisition management reporting requirements.
• Establishes and maintains requirements for acquisition workforce development and career management.
• Manages the department’s contracts and purchasing activities.
• Coordinates the implementation of ED Regulations for the Protection of Human Subjects in extramural and intramural research projects.