State unifies overseas financial management

State unifies overseas financial management

The U.S. embassy in Lima, Peru, last week became the first of 168 embassies to roll out the State Department's new Regional Financial Management System.

RFMS will consolidate administrative financial records from American embassies, consulates and agencies abroad into one of four financial management system hubs worldwide.

Financial information from the Lima embassy, other embassies and U.S. agencies in Latin America, for example, will go into the Charleston Financial Service Center in Charleston, S.C. Other financial management hubs are in Bangkok, Thailand; Mexico City and Paris. All the information will be accessible from State headquarters.

'This is a major milestone in the modernization of the State Department's overseas financial management,' said Larry Eisenhart, the deputy chief financial officer, in a statement.

Momentum financial management software from American Management Systems Inc. of Fairfax, Va., underlies the Web-based system. Traffic will be secured with a public-key infrastructure and digital certificates administered by Entrust Inc. of Ottawa.

The Charleston center will bring technical uniformity to financial reporting, said Zippora Brown, vice president of the AMS federal solutions group that began the work about eighteen months ago. Rollout of the financial software will continue over the next two years.

The Office of Personnel Management also has implemented a Momentum financial management system as part of Phase 1 of its financial management system implementation.

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