Legis Daily

CFO Vision Act of 2020

USA116th CongressS-3287| Senate 
| Updated: 12/17/2020
Michael B. Enzi

Michael B. Enzi

Republican Senator

Wyoming

Cosponsors (10)
Mike Braun (Republican)Margaret Wood Hassan (Democratic)David Perdue (Republican)Ron Johnson (Republican)Mark R. Warner (Democratic)Kelly Loeffler (Republican)Kyrsten Sinema (Independent)James Lankford (Republican)Chuck Grassley (Republican)Gary C. Peters (Democratic)

Homeland Security and Governmental Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.

Bill Text Versions

View Text
3 versions available

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Timeline
Feb 12, 2020
Introduced in Senate
Feb 12, 2020
Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S1043-1044)
Jul 22, 2020
Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Oct 19, 2020
Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment in the nature of a substitute. With written report No. 116-278.
Oct 19, 2020
Placed on Senate Legislative Calendar under General Orders. Calendar No. 572.
Dec 16, 2020
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S7560-7561)
Dec 16, 2020
Passed Senate with an amendment by Unanimous Consent. (text: CR S7560-7561)
Dec 16, 2020
Measure laid before Senate by unanimous consent. (consideration: CR S7558-7561)
Dec 16, 2020
The committee substitute as amended agreed to by Unanimous Consent. (text: CR S7558-7560)
Dec 17, 2020
Message on Senate action sent to the House.
Dec 17, 2020
Received in the House.
Dec 17, 2020
Held at the desk.
  • February 12, 2020
    Introduced in Senate


  • February 12, 2020
    Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S1043-1044)


  • July 22, 2020
    Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.


  • October 19, 2020
    Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment in the nature of a substitute. With written report No. 116-278.


  • October 19, 2020
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 572.


  • December 16, 2020
    Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S7560-7561)


  • December 16, 2020
    Passed Senate with an amendment by Unanimous Consent. (text: CR S7560-7561)


  • December 16, 2020
    Measure laid before Senate by unanimous consent. (consideration: CR S7558-7561)


  • December 16, 2020
    The committee substitute as amended agreed to by Unanimous Consent. (text: CR S7558-7560)


  • December 17, 2020
    Message on Senate action sent to the House.


  • December 17, 2020
    Received in the House.


  • December 17, 2020
    Held at the desk.

Government Operations and Politics

Accounting and auditingBudget processCongressional oversightExecutive agency funding and structureFederal officialsPerformance measurement

CFO Vision Act of 2020

USA116th CongressS-3287| Senate 
| Updated: 12/17/2020
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.

Bill Text Versions

View Text
3 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Feb 12, 2020
Introduced in Senate
Feb 12, 2020
Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S1043-1044)
Jul 22, 2020
Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Oct 19, 2020
Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment in the nature of a substitute. With written report No. 116-278.
Oct 19, 2020
Placed on Senate Legislative Calendar under General Orders. Calendar No. 572.
Dec 16, 2020
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S7560-7561)
Dec 16, 2020
Passed Senate with an amendment by Unanimous Consent. (text: CR S7560-7561)
Dec 16, 2020
Measure laid before Senate by unanimous consent. (consideration: CR S7558-7561)
Dec 16, 2020
The committee substitute as amended agreed to by Unanimous Consent. (text: CR S7558-7560)
Dec 17, 2020
Message on Senate action sent to the House.
Dec 17, 2020
Received in the House.
Dec 17, 2020
Held at the desk.
  • February 12, 2020
    Introduced in Senate


  • February 12, 2020
    Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S1043-1044)


  • July 22, 2020
    Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.


  • October 19, 2020
    Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment in the nature of a substitute. With written report No. 116-278.


  • October 19, 2020
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 572.


  • December 16, 2020
    Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S7560-7561)


  • December 16, 2020
    Passed Senate with an amendment by Unanimous Consent. (text: CR S7560-7561)


  • December 16, 2020
    Measure laid before Senate by unanimous consent. (consideration: CR S7558-7561)


  • December 16, 2020
    The committee substitute as amended agreed to by Unanimous Consent. (text: CR S7558-7560)


  • December 17, 2020
    Message on Senate action sent to the House.


  • December 17, 2020
    Received in the House.


  • December 17, 2020
    Held at the desk.
Michael B. Enzi

Michael B. Enzi

Republican Senator

Wyoming

Cosponsors (10)
Mike Braun (Republican)Margaret Wood Hassan (Democratic)David Perdue (Republican)Ron Johnson (Republican)Mark R. Warner (Democratic)Kelly Loeffler (Republican)Kyrsten Sinema (Independent)James Lankford (Republican)Chuck Grassley (Republican)Gary C. Peters (Democratic)

Homeland Security and Governmental Affairs Committee

Government Operations and Politics

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Accounting and auditingBudget processCongressional oversightExecutive agency funding and structureFederal officialsPerformance measurement