Chapter 8: OFFICE OF FINANCIAL MANAGEMENT

This Departmental Manual Release updates the functional description for the Office of Financial Management (112 DM 8).  Revisions to the chapter include the following:- Changing "management control" to "risk-based internal control."- Realigning the Integrated Charge Card Program from the "Policy Collaboration and Operations Division" to the "Departmental Offices Finance Division."-Updating the description of the Financial System Division to reflect new assigned functional responsibilities that include:a)  Collaborating with the bureaus on utilizing financial systems and leveraging financial information for formulating management decisions.b)  Performing data analysis and preparing comprehensive reports.c)  Representing the Department in Office of Financial Management and Budget financial system updates and other external matters. -Updating and adding responsibilities related to the new Custodial Reporting Division that transitioned to the Office of Financial management from the Bureau of Ocean Energy Management.  the Custodial Reporting Division provides guidance and oversight to the Office of Natural Resources revenue on royalty and Financial statement reporting.