Bureau of Accounting and Financial Management

Financial Management

Our Goal…

is to ensure quality accounting and reporting of enterprise-level financial activities by issuing the Comprehensive Annual Financial Report (CAFR), Single Audit Report and other financial reports; maintaining the Commonwealth’s chart of accounts; managing the implementation of new accounting standards; supporting cash management initiatives and leveraging technologies to be more cost effective.

 We Achieve Our Goal…

by coordinating the timely and efficient preparation and issuance of enterprise  financial statements, by being a thought leader with respect to the development, interpretation and implementation of new accounting standards, by providing prompt and courteous service to agencies’ requests for changes to the chart of accounts, by effectively interfacing with the federal government on cash management and cost allocation processes, and by devising and implementing technology solutions that result in greater efficiency and effectiveness of government operations.

About Us

The Bureau of Financial Management (BFM) within the Office of the Budget manages the preparation and issuance of both budgetary and GAAP based financial statements.  These enterprise-level financial statements include the monthly Status of Appropriations (used to monitor each agency’s expenditures against its approved budget), the CAFR (used to report the balances and results of commonwealth activities in accordance with GAAP) and the annual Single Audit (a federally mandated report disclosing the financial results of federally funded programs administered by the commonwealth and the commonwealth’s compliance with applicable laws and regulations. 

BFM is also responsible for serving as the SAP Business Process Owner and serving as the liaison between Comptroller Operations and the Office of Administration’s Integrated Enterprise Systems regarding matters that impact the financial functionality of the commonwealth’s SAP Enterprise Resource Planning system.  BFM also maintains the general ledger chart of accounts in SAP to ensure that necessary coding is maintained in SAP to enable agencies to properly account for programs and activities.  BFM plays a vital role in monitoring GAAP developments by preparing responses to exposure drafts and by analyzing and implementing new accounting standards.

BFM has two divisions that both serve as liaisons with the Department of Treasury and the Department of the Auditor General in their respective areas of responsibility as well as perform these various functions:

Accounting

Our Goal...

is to provide a variety of timely, accurate and efficient government financial accounting and reporting services to commonwealth agencies to enable them to better monitor and manage their diverse financial operations.

 We Achieve Our Goal...

by ensuring that the commonwealth’s accounting system properly reflects each agency’s financial activities, that those financial activities are in accordance with the approved budget and commonwealth policy, that funds are drawn or recorded in a timely and effective manner, and that meaningful, accurate, timely and complete agency financial reports are prepared and issued.

About Us

The Bureau of Commonwealth Accounting (BCA), within the Office of the Budget, provides a full range of governmental financial accounting and reporting services to state agencies under the Governor’s jurisdiction for all state and federally funded programs.  The magnitude and diversity of state activities mandates a broad range of governmental accounting skills and expertise to effectively capture the financial impact of each activity and to ensure that agency programs are in accordance with the enacted budget and in the best interest of the Pennsylvania taxpayer.  The bureau strives to provide effective and efficient services by standardizing and streamlining its processes and by empowering its employees to perform at their fullest potential. The bureau is organized in the following units to best achieve its goal:

The General Accounting Division consists of two units - Financial and Budgetary Accounting and Revenue Accounting:

The Federal Accounting Division manages the grant and federal accounting functions across the enterprise through specialized staff serving specific customer groups. This division is responsible for the accounting, monitoring, cash management and reporting for federal grants, contracts and agreements awarded to state agencies. The division receives award documents from federal agencies, draws down federal funds for each award and reports expenditures under each award to the appropriate federal agency.  The division monitors program activities for compliance with a variety of federal programmatic and financial management requirements.  The division also reviews and verifies the information reported under Section 1512 of the American Recovery and Reinvestment Act (ARRA).  Specific customer groups are served by the following units:

The Special Accounting Division is organized by customer groups and supports standard accounting functions across the commonwealth.