Summary

Description

This section contains the annual CMS financial statements as required under the Chief Financial Officers (CFO) Act of 1990 (P.L. 101-576). The CFO Act marked a major effort to improve U.S. Government financial management and accountability. In pursuit of this goal, the CFO Act instituted a new Federal financial management structure and process modeled on private sector practices. It also established in all major agencies the position of Chief Financial Officer with responsibilities including annual publication of financial statements and an accompanying report. The form and content of this Financial Report follows guidance provided by the Office of Management and Budget, the General Accountability Office, and the Department of Health and Human Services. It reflects CMS support of the spirit and requirements of the CFO Act and our continuing commitment to improve agency financial reporting.