Importance of CFO/CHCO relationship in today’s environment
Federal CFO Insights
The harsh budget climate and the continuous demand for better service delivery are forcing federal agencies to find new ways to innovate and get smarter about how and where to spend scarce resources. Every agency’s most important asset is the men and women who work every day to achieve results for the American people. But the Federal workforce is also one of the government’s biggest costs — with personnel costs comprising approximately 32% of the President’s FY15 budget.1 With no end in sight for tight budgets, it is more important than ever to align workforce strategies and budgetary commitments with mission requirements. Strong collaboration between the agency Chief Financial Officer (CFO) and the Chief Human Capital Officer (CHCO) has become a business imperative as agencies strive to be responsible stewards of public funds while providing essential and quality services to the American public.
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