The Office of the Chief Financial Officer (OCFO) stewards numerous programs and initiatives as part of our core mission to uphold strong financial management and accountability for the Department of Labor (DOL). These programs foster transparent and effective decision-making, and promote value-added financial management to support and enhance DOL’s mission.
Highlighted below are some of OCFO's major initiatives.
Tableau Dashboard and Data Visualization: Transforming Numbers to Insightful Stories
Tableau is an advanced business intelligence solution that allows users to easily connect to data through interactive dashboards. OCFO will implement Tableau dashboards to provide increased analysis of various financial data, thereby strengthening management and accountability of financial resources. Tableau dashboards will also facilitate greater collaboration among stakeholders in furthering agencies’ efforts to make budgetary control more transparent and accurate, as well as increase the ability to link financial data to performance goals.
Key benefits of this initiative include:
- Executive level web-based dashboard capability for stakeholders.
- Flexible reporting platform for rapid report development that is highly visual and dynamic.
- Online and offline viewing of Tableau reports using mobile apps.
- Multiple forecasting models that enable financial projection.
Improved Effectiveness and Efficiency of Budget Execution Processes
The OCFO is reviewing its current budget execution processes. This review is designed to identify effective and efficient solutions in assessing how funds are spent to implement policies, programs, and projects. By implementing improvements in the budget execution processes, the Department will enhance its ability to perform core functions accurately.
E-Gov Travel: Bringing Efficient E-Tools to All of DOL
As the Department’s mission often involves the performance of official travel, it is essential that the travel system fully support the travel process. OCFO has successfully initiated, managed, and executed activities related to the implementation of the 2nd Generation Electronic Travel System (ETS2) within DOL. ETS2 builds on the success of the first generation travel system, supporting the Department in its mission by ensuring a strengthened travel operations environment complete with a robust funds obligations/expense management platform, comprehensive reporting capabilities, and increased internal controls. Implementation of ETS2 will result in additional travel cost savings and efficiencies, while delivering a transparent, easy to use travel service and system. In addition, ETS2 will provide the capability to perform all aspects of official travel management online, supporting processes and procedures that are consistent with applicable federal regulations and Departmental policies.
Some of the significant benefits of ETS2 are as follows:
- Simplified process of securing travel arrangements, creating and approving travel documents, and facilitating reimbursement of travel claims through an integrated system.
- Automated interface with the Department’s core financial system.
- Built-in compliance with applicable travel regulations, policies, standards and guidelines.
- Reliable, accurate, and robust travel management data and reports.
- Improved travel planning and cost estimation tools.
- Electronic review and approval of travel authorizations and travel vouchers/claims.
- Automatic review and audit of travel documents.
OMB Circular A-123: Management’s Responsibility for Internal Control
Effective internal controls are necessary for timely and reliable financial management information and fundamental to management accountability. OCFO leads DOL’s internal controls review efforts to provide reasonable assurance that the Department’s internal controls are in place and operating efficiently and effectively.
Improper Payments Information Act: Ensuring Payment Integrity
Eliminating erroneous and improper payments is one of the most important initiatives facing DOL and OCFO. As part of the Department's implementation of payment integrity regulations, OCFO monitors and assesses current programs throughout DOL to ensure that taxpayer money is being spent wisely and effectively.
Payment integrity requires that DOL identify programs and activities susceptible to improper payments, develop statistically significant estimates of improper payments, and develop an effective system of controls to ensure payment integrity. Our cost-effective programs have transformed DOL into a government leader in reducing erroneous and improper payments. OCFO will continue adapting to new technologies and processes to maintain a robust payment integrity program.