• Various Sections – Completed full review to ensure policy is current and relevant
• Section 0203 Definitions – Updated definitions to ensure consistency throughout VA Financial Policies and removed outdated terminology
• Section 0204 Roles and Responsibilities – Added additional detail on responsibilities of Assistant Secretaries, Under Secretaries, Other Key Officials, and Chief Financial Officers to provide clarification on roles and responsibilities of key officials
• Section 0205 Policies
  • Performed a significant update to all policy sections to enhance reader understanding and provide clarification on how to record and report on expense and reduce redundancy
  • Added Presentation and Disclosure of Expenses and Imputed Costs to enhance reader understanding and provide clarification on how to record and report on expense and reduce redundancy
  • Removed sections related to Program Costs and Operating Expenses, Depreciation, Amortization, Depletion and Accounting for Extraordinary Items to enhance reader understanding and provide clarification on how to record and report on expense and reduce redundancy
• Section 0206 Authorities and References
  • Added references to SFFAS Nos. 7 and 33 to update links to ensure the reader refers to current guidance
  • Added reference to FFMIA of 1996 to update links to ensure the reader refers to current guidance
  • Added reference to TFM Volume I, Part 2, Chapter 4700 to update links to ensure the reader refers to current guidance
  • Removed unnecessary links and corrected hyperlinks as needed to update links to ensure the reader refers to current guidance
• Section 0207 Rescissions – Rescinded policy dated March 2021 to rescind previous policy version