Improving Federal Financial Management Act

Bill 119 s 75, also known as the Governmentwide Financial Management Improvement Act, aims to make changes to the government's financial management plan. The bill seeks to improve the way the government handles its finances and ensure greater accountability and transparency in financial reporting.

One of the key provisions of the bill is the requirement for federal agencies to implement standardized financial management systems. This will help streamline financial reporting processes and make it easier to track and monitor government spending. The bill also calls for the establishment of a governmentwide financial management plan to guide agencies in their financial management practices.

Additionally, the bill includes measures to strengthen internal controls and improve financial oversight within federal agencies. This will help prevent fraud, waste, and abuse of taxpayer dollars, and ensure that government funds are being used efficiently and effectively. Overall, Bill 119 s 75 aims to modernize and improve the government's financial management practices to ensure greater accountability and transparency in how taxpayer dollars are being spent.