Standard Financial Information Structure (SFIS)

Standard Financial Information Structure

The Standard Financial Information Structure (SFIS) — commonly pronounced “ess-fis” —is a comprehensive "common business language" that supports information and data requirements for budgeting, financial accounting, cost/performance management, and external reporting across the DoD enterprise. SFIS standardizes financial reporting across DoD, thereby reducing the cost of auditability. It allows revenues and expenses to be reported by programs that align with major goals versus by appropriation categories. It enables decision-makers to efficiently compare programs and their associated activities and costs across DoD. And, it provides a basis for common valuation of DoD programs, assets, and liabilities.

The initial SFIS development phase (Phase I) identified and defined data elements for external reporting. Current efforts are focusing on identifying values for data elements needed to post transactions to the Department's general ledgers and support the generation of financial statements. Next steps will include prioritizing SFIS deployment and providing guidance to assist Components in adoption of the standard based on their legacy system environment, interim environment, and emerging new environments including Enterprise Resource Programs (ERPs).

SFIS Resources

SFIS Governance Board Meetings:

August 2009

October 2009

February 2010

March 2010

April 2010

June 2010