340 Smithsonian institution 



Report of the Chief Financial Officer 



incentive /award systems for CFO organization employees; and sensitizing and 

 training supervisors and management on responsibilities and organizational priorities. 



4. Improving the timeliness and usefulness of financial information by designing a 

 financial reporting architecture and implementing a Management Information 

 System (MIS) that provides information required by central management and the 

 CFO organization; preparing financial reports in clear, concise, and understandable 

 language and formats; maintaining operations and developing interim solutions for 

 current systems in the absence of the new Enterprise Resource Planning (ERP) 

 system; and defining and reengineering financial management, budget, and 

 contracting processes to use ERP. 



Financial Organizational Structure 



When installed as Secretary of the Smithsonian Institution in January 2000, Lawrence M. 

 Small assembled his new senior management team, which included: the Under Secretary for 

 American Museums and National Programs, the Under Secretary for Science, the Director 

 for International Art Museums Division, the Under Secretary for Finance and 

 Administration, and the Chief Executive Officer of Smithsonian Business Ventures. 



The CFO reports to the Under Secretary for Finance and Administration and is responsible 

 for the planning, oversight, management, and stability of all financial activities of the 

 Smithsonian Institution. In that regard, the CFO oversees the Smithsonian Institution's 

 planning and budgeting, finance, treasury, accounting, and contracting activities, among 

 other things. In addition to preparing financial reports to monitor and control the obligation 

 and expenditure of budgetary resources, the Office of the CFO prepares the Smithsonian 

 Institution's financial statements and related notes to the financial statements. Although not 

 mandated to do so, the statements follow the provisions set forth in the CFO Act of 1990 

 (Public Law 101-576). 



In providing financial services in support of the Smithsonian Institution's mission for the 

 increase and diffusion of knowledge, the Office of the CFO works to improve and 

 disseminate information, as well as facilitate the activities of: 



Museums and galleries, 



National Zoological Park, 



Research facilities and resources, 



Educational and outreach programs, 



Smithsonian Business Ventures, and 



Other related organizations. 



Additional information on the Smithsonian Institution's museums, research centers, and 

 related organizations is provided in the Appendix, which begins on page A-l. 



