The U.S. Coast Guard has implemented a new system for overseeing financial reports, procurement processes and assets.
USCG became the third Department of Homeland Security (DHS) component to adopt the Financial System Modernization Solution (FSMS) and will use the platform to manage the maritime law enforcement service’s $12 billion annual budget, DHS said Friday.
DHS’ Countering Weapons of Mass Destruction Office migrated to the system in October 2019 and the Transportation Security Administration completed its transition the following year.
The FSMS is built with automated controls, a common structure for appropriations and accounting lines and a modern security platform. Stacy Marcott, acting chief financial officer of DHS, said financial system modernization is a priority for the department.
“The new system will vastly improve the U.S. Coast Guard’s business systems, help employees be more productive, and allow them to achieve more reliable results when paying bills, procuring goods and services, reporting and managing budgets, and much more,” Marcott added.