The Office of Financial Resource Management (OFRM) directs and manages the overall budget and financial activities relating to the programs and operations of NIST, as well as client bureaus serviced by NIST. This includes:
- the development of financial management policies and procedures,
- the development and maintenance of an integrated accounting and financial management system including financial reporting and financial internal controls which comply with all applicable DoC, OMB, Treasury and FASAB regulations, policies, and requirements,
- ensuring financial information is reported timely, complete, and consistent,
- overseeing budget formulation, presentation, justification and execution,
- directing the preparation of annual financial plans and serving as the action official responsible on all internal external audits, investigations, reviews, and examinations related to financial management,
- coordinating financial report requirements as mandated in the CFO Act of 1990 (P.L. 101-576),
- promoting programs to deter fraud, waste, and abuse of government resources,
- overseeing the NIST wide Enterprise Risk Management Program,
- and serving as liaison to DoC and OMB on all financial matters and the development and deployment of an integrated financial management system.
The Mission of the OFRM is to "Increase the value of NIST and Commerce resources."
Why is increasing the value of NIST and Commerce resources our mission?
By increasing the value of NIST resources we are supporting the NIST Operating Units in their quest to promote U.S. innovation and industrial competitiveness.
By increasing the value of Commerce resources we are supporting our customer agencies in the fulfillment of their missions.
- Accountability - We constantly measure our results against our commitments as individuals and members of the team.
- Innovation - We consistently try to find new and better ways of reaching our goals and objectives. We learn from our failures as well as our successes.
- Integrity - We are straightforward, honest and open.
- Respect - We respect our customers and each other, because it is simply the right thing to do.
- Teamwork - We can rely on one another to support our common goals and strive for outcomes that benefit our customers and ourselves.