Office of Financial Management

The Office of Financial Management is led by the Deputy Chief Financial Officer (CFO) and Director for Financial Management.    

Three subordinate offices report to the Deputy CFO and work to fulfill the office’s mission:

Program quality financial management information, services and systems, unparalleled in government, to meet the related needs of Commerce's program managers and administrators. 

OFM Offices

Financial Reporting, Policy, Internal Controls, and Travel Directorate

Julie Tao, Director

This Directorate is responsible for formulating and prescribing Department-wide financial management, accounting and fiscal policies, procedures, standards, and controls; providing assistance to components in their implementation; and reporting on financial management programs to include coordinating preparation of financial statements and other external reporting.  This Directorate also coordinates the annual financial audit, monitors the resolution of audit findings, and oversees the Department’s assessment of A-123 internal controls over financial reporting.

OFRICT also provides policy, oversight, guidance, and reporting of all travel and conference-related expenditures.  OFRICT serves as the liaison with GSA for the government-wide electronic travel system.  All Departmental travel policies are developed in conjunction with OGC and are promulgated throughout the Department.  All conference reporting and approvals are routed through OFRICT.  Travel-card fraud monitoring and delinquencies as well as visa/passport processing is also handled by OFRICT.

Financial Management Systems Directorate

Teresa Coppolino, Director

This Directorate—also known as the Commerce Business Systems (CBS) Solutions Center (CSC)—is responsible for planning and managing the development, maintenance, and implementation of the CBS.  CSC provides systems analysis definition, design, development, testing, integration, technical support, and oversight of all CBS development and deployment activities. 

Additionally CSC provides IT support services for the CFO/ASA Enterprise Application Systems (EAS) as well as coordinates the EAS host data center and disaster recovery services provided by the Department of Transportation/Federal Aviation Administration/Enterprise Services Center.

Office of the Secretary Financial Management Directorate

Holden Hoofnagle, Director

This Directorate is responsible for the day-to-day operation and management of the OS budgetary functions including development and oversight of the OS budget submissions to the Department, OMB, and Congress and implementation of all phases of the budget process for Department-wide, high-priority emerging issues.  This office also allocates resources to the OS Executive Direction and Departmental Staff Services operating units and evaluates the adequacy of OS budget operations, adherence to established policy, and any need for changes in the overall direction. 

OSFM is also responsible for continuous review, re-engineering and streamlining of reimbursable services in the Working Capital and Advance and Reimbursement accounts; monitors the Departmental gifts and bequests activities; and updates the Office of the Secretary Working Capital Fund and Advances and Reimbursement Handbook, the OS Budget Contact Handbook, and the Gifts and Bequests Funds Standard Operating Procedures.