Budget Formulation, Execution, and Forecasting | Finance and Accounting Operations | Governance Compliance | Cost Analysis | Workforce Development
Financial Management in the Federal operating environment is more challenging than ever before. The demand for accountability of funds and ensuring the dollars appropriated are executed efficiently is extremely critical. No longer can a Financial Management organization operate in a standalone mode. In addition, no longer can the Budget, Accounting, and Cost disciplines operate separately. In today's operating environment Budget, Accounting and Cost capabilities must be integrated to meet Chief Financial Officers compliance mandates and fully achieve the effective management of Federal dollars. MBC supports our Federal Financial Management clients in these objectives by providing the following lines of service.
MBC supports our clients at the starting point for each budget (formulation) in the formal process known as the Planning, Programming, Budgeting, and Execution (PPBE). One must have a good grasp of the planning process, players, and roles and responsibilities in order to clearly understand the long-term implications of the PPBE process. Next we focus on the programming process and how planning guidance is translated into the dollars, forces, and manpower of the Military Department Program, also known as the Program Objective Memorandum (POM). MBC supports the major activities of the Military Departments programming process to include an examination of the OSD program review. Finally, MBC focuses on the budget and budget execution processes by refining the cost estimates contained in the Military Department Program, submitting the proposed budget, and participating in the OSD budget review.
MBC also supports budget execution. Approval of an appropriation by Congress, and the President's signature, means that Defense organizations are able to begin making spending decisions and obligating funds. MBC assists our clients in the management of obligation and disbursements to ensure that taxpayer funds were expended appropriately.
MBC is actively assisting our clients in the accounting of budgeted dollars. We reconcile the accounting of appropriated funds from budget through disbursement to ensure that clients get the most out of allocated dollars. We also manage the accounting and reconciliation of Working Capital Funds, and Foreign Military Funds on behalf of our clients. Additionally, MBC is assisting our clients with transition from legacy accounting processes and systems to Enterprise Resource Planning (ERP) systems. In the capacity, MBC analyzes/reconciles the mapping of legacy accounting records to the General Ledger, Trial Balance, and Financial Statement line items of the ERP.
MBC is actively assisting our clients with federal regulatory compliance such as Federal Financial Management Improvement Act and OMB Circulars A-127, A-123 and A-136. The Department of Defense (DoD) is committed to having fully auditable financial statements by 2017, the deadline established by Congress in the National Defense Authorization Act of 2010. The Department manages financial improvement activities through the Financial Improvement and Audit Readiness (FIAR) Plan, which provides the strategy, methodology, and means for monitoring progress to achieve Congress' audit readiness requirement. MBC is engaged with the Department of Defense to improve business and financial processes, controls, systems and data to achieve accurate, reliable and timely financial and managerial information for decision makers and citizens. MBC is supporting our clients to; Achieve and sustain audit readiness, Achieve and sustain unqualified assurance on effectiveness of internal controls, Attain Federal Financial Management Improvement Act (FFMIA) compliance (financial management systems that support effective financial management).
MBC provides cost analysis support to clients as a method for tracking and analyzing revenue, expenses, and sales, transforming data into a structured analytic framework to provide the appropriate level of analysis for key decision makers. To do this the organization must understand the analytic environment. Next, the organization must harmonize data sources. The discrepancy among different data sources is a challenging factor for organizations attempting to synchronize business operations. Harmonizing data requires developing specifications for tracking and analyzing internal and external data sources and ensures consistent data analytics that are useful throughout the organization. After data sources have been harmonized, a decision framework must be defined. The decision framework is necessary to ensure recommendations are formulated based on the major deltas, similarities, and differences in data and identification of key decisions. MBC provides the full spectrum of Cost Analysis support; Acquisition Cost Estimating, Earned Value Management, Risk Management, Scheduling, Activity Based Costing/Management, Economic Analysis, and Analysis of Alternatives.
Through MBC’s efforts to improve business and financial processes, controls, systems and data to achieve accurate, reliable and timely financial and managerial information, we also assist in transitioning the workforce to be capable of using these new processes and automated tools. We work with our clients to institutionalize the desired budget, accounting, and cost analytic skills required to effectively utilize financial ERP’s to maximize budgets, fully execute allocated dollars, and proactively manage cost drivers.