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S. 3287 · 116th Congress

CFO Vision Act of 2020

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Passed the Senate without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 116th Congress ended.

MER EnziSponsor
10 cosponsors · 4 D, 6 R
CGR Grassley RJR Johnson JLR Lankford DPR Perdue MWD Warner MHD Hassan KLR Loeffler MBR Braun GPD Peters KSD Sinema

5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

  1. Senate Introduced Feb 12, 2020
  2. Senate Passed Dec 16, 2020

This bill establishes or modifies provisions to provide for standardized government-wide financial management requirements.

What it does: CRS summary · Passed Senate · Dec 16, 2020

CFO Vision Act of 2020

This bill establishes or modifies provisions to provide for standardized government-wide financial management requirements.

Each agency Chief Financial Officer must oversee and provide leadership in the areas of budget formulation and execution, planning and performance, risk management, internal controls, financial systems, and accounting.

The bill requires the government-wide financial management plan to include actions for improving financial management systems, strengthening the federal financial management workforce, and linking performance and cost information to budget decision-making.

The bill requires (1) the development of financial management performance-based metrics, and (2) an assessment of performance by such metrics to be included in the government-wide and agency-level financial management plans and status reports. Specifically, each agency shall annually assess and make a conclusion on the effectiveness of its internal controls over financial reporting and key financial management information.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: CFO Vision Act of 2020

Latest action (Dec 17, 2020): Held at the desk.

Policy area: Government Operations and Politics · Origin: Senate · Introduced: Feb 12, 2020

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

  1. Senate Introduced Feb 12, 2020
  2. Senate Passed Dec 16, 2020

No recorded floor vote found.