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Financial Innovation & Transformation

FM Innovation Program — Agency Innovation Partnership

Program Overview:

The Financial Management Line of Business (FMLoB) is sponsoring an innovation program for FIT to partner with you to move pilot or proof-of-concept projects forward. Identified projects which meet program goals and criteria may be selected to receive partial funding. Think broadly because the focus of the projects may be around technology, process, and/or policy.

Purpose & Goals:

The FMIP will provide assistance to federal agencies to pilot and evaluate promising innovations that pursue one or more of the following goals:

  1. Increase financial management productivity
  2. Reduce waste by eliminating low-value financial management activities
  3. Improve financial management program effectiveness
  4. Achieve economies of scale through common approaches

Pilot results will be used to promote greater cross-government adoption of solutions while encouraging agencies to think outside of their organizational stovepipes.

Program Requirements:

  • Project must demonstrate a new and novel approach to a financial management process.
  • Idea needs to address at least one of the stated goals of the program (noted above) and must have the potential for government-wide impact.
  • While the funding for these efforts may be shared, we would need confirmation that your portion of the funds can be obligated within the fiscal year (No later than September 30).
  • Project must be complete within one year of kick-off.
  • Agreement to meet on a periodic basis (no more than monthly) to discuss and share findings, challenges, best practices and lessons learned with FIT as well as other participating agencies.

Questions and or comments? Contact FIT@fiscal.treasury.gov. In the subject line, note “FMIP Question”.

Last modified 07/19/19