The Office of Financial Controls oversees FAA’s cost reduction effort and develops and implements agency cost control initiatives.
Along with the Chief Financial Officer's (CFO's) responsibility for budgeting, accounting, cost control and reduction, and financial programs and policies, the Office of Financial Controls:
- Develops agency policy and oversees financial guidance and advisory services for agency contracts.
- Manages and coordinates issues related to internal and agency-wide cost control programs.
- Ensures business decisions are sound by analyzing the financial impact of proposed agency actions.
- Develops and implements national policies for spending and authorization control to help ensure the agency's resources are used efficiently and effectively.
- Oversees the Federal Activities Inventory Reform (FAIR) Act for the agency.