What is OMB Exhibit 300?

The Exhibit 300 is a high level summary of the planning, budgeting, acquisition, and management of Federal capital assets and helps meet reporting requirements for major IT investments.

What is omb300?

Within the US Government, the Office of Management and Budget (OMB) Exhibit 300 defines the way in which Government agencies need to plan, budget and acquire and manage all of their IT assets.

What is Exhibit 53?

Exhibit 53 is a report that provides budget estimates on all IT investments for individual agencies and identifies those that are major investments, which require an Exhibit 300.

What is PortfolioStat?

PortfolioStat is a tool for agencies to use to assess the current maturity of their IT portfolio management process and make decisions on eliminating duplication across their organizations. PortfolioStat was launched by the Office of Management and Budget (OMB) on March 30, 2012.

What is a capital asset plan?

Capital asset management planning is the process of identifying current and future capital needs, and developing strategies and projects to address those needs. These plans should reflect the operating and capital cost of managing assets through their life cycles.

What is technology modernization fund?

The TMF is an innovative funding vehicle that gives agencies additional ways to deliver services to the American public more quickly, better secure sensitive systems and data, and use taxpayer dollars more efficiently. Approved projects receive incremental funding and technical expertise to ensure project success.

What does Fitara stand for?

The Federal Information Technology Acquisition Reform Act (FITARA), passed by Congress in December 2014, is a historic law that represents the first major overhaul of Federal information Technology (IT) in almost 20 years.

What is a capital management plan?

The Capital Management Plan (CMP) is a strategic planning document that summarises an entity’s actual and planned property and other capital expenditure across the budget and forward years, and explains how it plans to fund the expenditure.

What is asset management in accounting?

Asset management is the practice of increasing total wealth over time by acquiring, maintaining, and trading investments that have the potential to grow in value. Asset management professionals perform this service for others. They may also be called portfolio managers or financial advisors.

What is Federal Citizen Services Fund?

The Federal Citizen Services Fund (FCSF) enables public access and engagement with the Government through an array of public and agency facing products and programs. The FCSF supports agency facing programs that drive Government-wide transformation through shared services, platforms, and solutions.

What is the MGT act?

The MGT Act will allow agencies to invest in modem technology solutions to improve service delivery to the public, secure sensitive systems and data, and save taxpayer dollars. The MGT Act was enacted as part of the Fiscal Year 2018 National Defense Authorization Act (NDAA) on December 12, 2017.

Is Fitara a law?

What is exhibit 300 of OMB Circular A-11?

The Exhibit 300: Capital Asset Plan and Business Case Summary supports the budget justification and reporting requirements for major information technology (IT) and non IT investments as required by OMB Circular No. A-11 Part 7, Section 300: Planning, Budgeting, Acquisition, and Management of Capital Assets (PDF, 26 pages – 386 KB).

What are the requirements for exhibit 300?

OMB requires that each Exhibit 300 have a unique user ID that refers to only one investment on Exhibit 53. If an investment falls into two or more mission areas, keep all the funding under the most important mission area for that investment.

How often should exhibit 300 information be updated?

Specifically for major investments, the Exhibit 300 information on contracts, performance metrics and milestones must be updated monthly to support the requirements of the OMB IT Dashboard.

What is A-11 part 7 Section 300?

A-11 Part 7, Section 300: Planning, Budgeting, Acquisition, and Management of Capital Assets (PDF, 26 pages – 386 KB). In accordance with the administration’s transparency initiatives, the Office of Management and Budget launched a Federal Information Technology (IT) Dashboard.