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Title 10, Armed ForcesRelease 119-102

§7022 Financial Management

Title 10 › Subtitle B — Army › PART I — ORGANIZATION › CHAPTER 703 — DEPARTMENT OF THE ARMY › § 7022

Last updated Aug 21, 2026|Official source

Summary

The Army must have the Assistant Secretary for Financial Management run and oversee all Army money operations and financial systems. That official must prepare and guide Army budget estimates, approve and supervise projects that build or improve financial systems, and approve systems that manage cash, credit, debt collection, and the tracking of property and inventory. All accounting, internal controls, and financial reporting must follow the rules the Comptroller General set under sections 3511 and 3512 of title 31. Systems must give full, accurate, consistent, and timely information, show cost data, link accounting with budgeting, and measure performance. The Assistant Secretary must keep a five-year improvement plan (updated every year) and send an annual report to the Secretary of the Army describing the prior year’s financial management work and status.

Full Legal Text

Title 10, §7022

Armed Forces, Source: USLM XML via OLRC

(a)The Secretary of the Army shall provide that the Assistant Secretary of the Army for Financial Management shall direct and manage financial management activities and operations of the Department of the Army, including ensuring that financial management systems of the Department of the Army comply with subsection (b). The authority of the Assistant Secretary for such direction and management shall include the authority to—
(1)supervise and direct the preparation of budget estimates of the Department of the Army and otherwise carry out, with respect to the Department of the Army, the functions specified for the Under Secretary of Defense (Comptroller) in section 135(c) of this title;
(2)approve and supervise any project to design or enhance a financial management system for the Department of the Army; and
(3)approve the establishment and supervise the operation of any asset management system of the Department of the Army, including—
(A)systems for cash management, credit management, and debt collection; and
(B)systems for the accounting for the quantity, location, and cost of property and inventory.
(b)(1)Financial management systems of the Department of the Army (including accounting systems, internal control systems, and financial reporting systems) shall be established and maintained in conformance with—
(A)the accounting and financial reporting principles, standards, and requirements established by the Comptroller General under section 3511 of title 31; and
(B)the internal control standards established by the Comptroller General under section 3512 of title 31.
(2)Such systems shall provide for—
(A)complete, reliable, consistent, and timely information which is prepared on a uniform basis and which is responsive to the financial information needs of department management;
(B)the development and reporting of cost information;
(C)the integration of accounting and budgeting information; and
(D)the systematic measurement of performance.
(c)The Assistant Secretary shall maintain a five-year plan describing the activities the Department of the Army proposes to conduct over the next five fiscal years to improve financial management. Such plan shall be revised annually.
(d)The Assistant Secretary of the Army for Financial Management shall transmit to the Secretary of the Army a report each year on the activities of the Assistant Secretary during the preceding year. Each such report shall include a description and analysis of the status of Department of the Army financial management.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2018—Pub. L. 115–232 renumbered section 3022 of this title as this section. 1996—Subsec. (a)(1). Pub. L. 104–106 substituted “Under Secretary of Defense (Comptroller)” for “Comptroller of the Department of Defense”. 1994—Subsec. (a)(1). Pub. L. 103–337 substituted “section 135(c)” for “section 137(c)”.

Statutory Notes and Related Subsidiaries

Effective Date

of 2018 AmendmentAmendment by Pub. L. 115–232 effective Feb. 1, 2019, with provision for the coordination of

Amendments

and special rule for certain redesignations, see section 800 of Pub. L. 115–232, set out as a note preceding section 3001 of this title.

Effective Date

Section effective Jan. 20, 1989, see section 702(e)(1) of Pub. L. 100–456, set out as an

Effective Date

of 1988 Amendment note under section 7016 of this title.

Reference

Citations & Metadata

Citation

10 U.S.C. § 7022

Title 10, Armed Forces

Last Updated

Aug 21, 2026

Release point: 119-102