Which positions were created by the CFO Act?

The Chief Financial Officers Act (CFO Act) of 1990 was significant in establishing a framework for financial management in the federal government. One of its key outcomes was the creation of specific positions designed to enhance accountability, improve financial management, and ensure more effective budget oversight within federal departments.

The positions created by the CFO Act specifically include CFOs for federal departments and the Deputy Director for Management at the Office of Management and Budget (OMB). The role of the Chief Financial Officer is crucial as it is responsible for overseeing the financial management and the financial reporting of the department, ensuring compliance with federal financial management standards, and implementing necessary controls. The Deputy Director for Management role assists in overseeing federal financial management policies and practices across agencies, which is essential for maintaining fiscal integrity.

In summary, the correct answer reflects the roles established to support enhanced financial oversight in the government, which was a primary aim of the CFO Act. This framework laid the groundwork for improved fiscal responsibility and accountability within federal agencies.