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Published byIlene Hines Modified over 9 years ago
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Future of Financial Management Transparency and Intelligent DataTM
Marcel Jemio Acting Director, Division of Enterprise Architecture, Bureau of the Fiscal Service Marisa Schmader Program Manager, Treasury Data Initiative,
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Agenda Current State Treasury Broad Vision Vision Specific to Transparency & Intelligent DataTM Next Steps LEAD. TRANSFORM. DELIVER
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Transparency Necessary but not New….
"We might hope to see the finances of the Union as clear and intelligible as a merchant's books, so that every member of Congress and every man of any mind in the Union should be able to comprehend them, to investigate abuses, and consequently to control them.” --Thomas Jefferson, 1802 LEAD. TRANSFORM. DELIVER
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Current State of Transparency
Challenges/Opportunities Spending data on USAspending.gov does not reconcile to agency reported financial data, so data quality is questioned Standards do not exist in all cases & guidance is not consistently applied Usability, look and feel of the USAspending.gov website is not optimal LEAD. TRANSFORM. DELIVER
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Treasury Broad Vision Provide reliable, timely, and secure Intelligent DataTM for the purpose of promoting transparency, facilitating better decision making, and improving operational efficiency LEAD. TRANSFORM. DELIVER
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Treasury Vision and Transparency
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Transparency – Why Now? The Department of Treasury will assume responsibility for operating and improving USASpending.gov, as outlined in the Budget of the United States Government for Fiscal Year 2014. Opportunity to leverage Treasury's role as the authoritative source of government-wide financial information in order to provide the public with the highest quality and most complete information. Attention from Congress, GAO, special interest groups, and the public Newly proposed legislative requirements, i.e. the Digital Accountability and Transparency Act (DATA Act) LEAD. TRANSFORM. DELIVER
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Purpose of Proposed DATA Act
To expand the Federal Funding Accountability and Transparency Act (FFATA) of 2006 Provide open and available sources of data allowing for innovative analytics E.g., Platform-independent computer-readable formats Provide searchable government-wide spending data Simplify reporting for entities receiving Federal funds Improve quality of USAspending.gov data LEAD. TRANSFORM. DELIVER
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Proposed Treasury Solutions to Improving Transparency
CHALLENGE SOLUTION Source financial data from Agency financial systems of record and validate it against authoritative data. Improve the Quality of Financial Data Improve the Usability of the Website Gather feedback on how to improve the website and leverage success of other federal & state websites LEAD. TRANSFORM. DELIVER
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Proposed Treasury Solutions to Improving Transparency
CHALLENGE SOLUTION Link expenditure and award data, provide a searchable website, improve data quality, define data standards, and provide Intelligent DataTM in open source formats that allow for innovative analysis. Address Proposed DATA Act Requirements Publish reports from the Payments Information Repository (PIR) as an initial step to increase transparency and awareness of Federal spending. Leverage vast amounts of financial information at the Fiscal Service, follow open data policies, and utilize open source technology. Support Current & Potential Future Transparency Needs LEAD. TRANSFORM. DELIVER
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Treasury Data Approach Illustration
AWARD ID Financial Systems Subsidiary Systems Financial Data TAS USSGL (i.e., Obligations & Outlays) Award ID Object Class Code Sub-Object Class Code, etc. Non-Financial Data Award Location Contract Start/End Contract Type Award ID Contract Value, etc. Transparency Information LEAD. TRANSFORM. DELIVER
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Treasury Vision and Intelligent DataTM
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Example of Intelligent DataTM
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Example of Intelligent DataTM
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Example of Intelligent DataTM
Founded "Total Quality Management" LEAD. TRANSFORM. DELIVER
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Value of the Barcode Improves internal operations (i.e. operational analytics) Ranging from pricing to checkout scanning to inventory and assortment management Automatic transmission of POS data Has been instrumental in reducing inventory, shortening lead times, and increasing profitability. Low cost of data collection as compared to Radio Frequency Identification (RFID) Extensible with mobile technology Anything with a barcode can now be "scanned" using smartphones LEAD. TRANSFORM. DELIVER
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Lessons from the Barcode
Standardizing the data spurred innovation One standard mapped a million ways across many languages Systems were built around the data, not the other way around Open industry standard, not proprietary LEAD. TRANSFORM. DELIVER
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Background Constant translation is necessary to understand both content and context Content and context are communicated through a single common language LEAD. TRANSFORM. DELIVER
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Intelligent DataTM is…..
Content + Context + Quality Value of a data element plus what the value means in context Single definition for identification An "apple" is an "apple" Interoperability Alignment with global industry standard Integrated data and business rules logic Holistic view of the data, not the system Enables good, quality data to be pervasive throughout the information supply chain “Common Language Open Standard" Just like the barcode example, this is high value because it ensures the data is interoperable, interconnected, and in alignment with global industry standards. LEAD. TRANSFORM. DELIVER
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Intelligent DataTM Shift
Shift Thinking From… Proprietary to Open Complex to Simple High Cost to Low Cost System Focus to Data Focus Disconnected to Interconnected LEAD. TRANSFORM. DELIVER
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LEAD. TRANSFORM. DELIVER
Next Steps Transparency & Intelligent DataTM Complete a feasibility study on the Treasury Data Approach focusing on Shared Service Providers (SSPs) Create an open forum comprised of cross agency and industry participants who will focus on developing metadata standards in-line with industry standards to provide open, available, and Intelligent Data sources. LEAD. TRANSFORM. DELIVER
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THANK YOU Contacts: Marcel Jemio Marisa Schmader LEAD. TRANSFORM. DELIVER
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