H.R. 7683: VA Fiscal Management Modernization Act

This bill, known as the VA Fiscal Management Modernization Act, proposes several changes to the financial management structure within the Department of Veterans Affairs (VA). Below is a summary of its main components:

1. Designation of Chief Financial Officer

The bill designates the Assistant Secretary for Management of the VA as the Chief Financial Officer (CFO). This individual will be responsible for key financial functions, including:

• Advising the Secretary of the VA on financial management.
• Formulating and executing the VA’s budget.
• Controlling, accounting for, auditing, and reporting on the department's finances.
• Ensuring compliance with specific financial regulations outlined in relevant United States Code sections.
• Providing financial information to Congress when requested.
• Leading the Office of Management within the VA.

2. Establishment of a Legislative and Congressional Budget Information Office

The bill establishes a Legislative and Congressional Budget Information Office within the Office of Management. The purpose of this office is to:

• Provide Congress with accurate and timely information regarding the VA’s budget and finances.
• Be staffed with no more than 15 full-time equivalent employees.

The head of this office will report directly to the Chief Financial Officer.

3. Increase in Deputy Assistant Secretaries

The legislation allows for an increase in the number of Deputy Assistant Secretaries for Management from 19 to 21. This adjustment is aimed at enhancing the management capacity related to financial strategies and operations.

4. New Regulations for Financial Employees

The bill stipulates that certain financial personnel must report exclusively to the Chief Financial Officer and cannot engage in programmatic or operational functions within the department. This aims to clarify roles and enhance oversight of financial activities.

5. Implementation Timeline

Upon enactment, the Secretary of Veterans Affairs will have 180 days to implement the changes detailed in this bill, ensuring a timely adaptation of the new provisions and structure.

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