The Coast Guard is working with the Department of Homeland Security to develop and implement an acquisition strategy for the program.
What is FMSII?
The new financial management service will consolidate many of the Coast Guard’s financial processes. Some financial tasks currently completed at the unit level will be centralized at regional centers, freeing up time for unit commands without reducing their authority over unit-level mission resource decisions.
The new service will replace five separate programs, simplifying many financial processes necessary to Coast Guard operations. Moving these functions to a single service will reduce redundancy for users. Rather than entering and processing data in multiple programs, Coast Guard personnel will only need to perform these tasks once, and the data will be available throughout the Coast Guard when needed.
The service will also simplify the auditing process. Auditing allows the Coast Guard to evaluate its own spending to make informed budget decisions and also helps the service clearly articulate its funding needs to policymakers.