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114. 2004.10.22: HHS Unveils New Unified Financial Management System The new HHS Unified Financial management System (UFMS) will provide improved fiscal The UFMS program is a business management tool that will improve the http://www.hhs.gov/news/press/2004pres/20041022.html

Skip Navigation News Release FOR IMMEDIATE RELEASE Friday, Oct. 22, 2004 HHS Press Office HHS Unveils New Unified Financial Management System New System Will Streamline Accounting and Budget Activities Across HHS Agencies HHS Secretary Tommy G. Thompson today announced that the Department will begin using a new centralized financial management system that will unify the vast array of outdated, redundant and incompatible financial systems currently in use across its agencies. The new HHS Unified Financial Management System (UFMS) will provide improved fiscal management and accountability for the largest budget in the Federal government. "We have one of the most complex accounting systems in the Federal government, one that must administer over a half trillion-dollar budget spread across more than 300 programs in 11 agencies," Secretary Thompson said. "The UFMS program will change the way we do business at HHS and greatly improve our capability to manage the public's tax dollars, a key element of the President's Management Agenda." The UFMS program is a business management tool that will improve the efficiency and effectiveness of financial, business and operational functions across the department, including general ledger, budget execution, accounts payable, accounts receivable, purchasing, grants management and payroll activities. As a result, the system will reduce the resources needed and costs associated with conducting financial transactions across HHS and streamline the process of financial reporting.

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