About the Office of Finance

The goal of the Office of Finance is to strengthen the financial management, procurement, and contracting functions of State agencies.

To accomplish this goal, the Office of Finance:

• Reviews and monitors the financial management policies and practices of State agencies and recommends improvements.
• Participates in the planning, design, and implementation to enhance the state’s core financial and administrative systems.
• Manages the Statewide Analytical Reporting System (STARS) for all State agencies.
• Establishes standards, guidelines, and training for Purchase of Service Contracts (POS) and Personal Service Agreements (PSA) and reviews State agencies requests for procurement prior to contract execution.
• Develops policy and provides guidance to State agencies providing financial assistance to non-profits, municipalities and other local governments for the entities state single audit reporting requirements in the Electronic Audit Reporting System (EARS).
• Monitors the financial conditions of the State’s municipalities through the electronic Fiscal Health Monitoring System (FHMS) financial and budget data.
• Provides technical assistance to municipalities facing financial issues.
• Supports two municipal oversight boards; the Municipal Finance Advisory Commission (MFAC) and Municipal Accountability Review Board (MARB), providing policies and guidelines.
• Oversees the implementation of the Information Technology Capital Investment Program.
• Guides and develops statewide IT policies.

Procurement

• Serves as an in-house advisor to OPM and the Governor’s Office regarding the financial management, procurement, and contracting policies and practices of State agencies.
• Establishes procurement standards for State agencies to follow when entering into personal service agreements (PSA) and purchase of service (POS) contracts.
• Evaluates agency requests in Core‑CT to enter into such agreements and contracts.
• Provides training on procurement policy and processes for personal service agreements (PSA) and purchase of service (POS) contracts.
• Establishes policies for obtaining, managing, and evaluating the quality and cost-effectiveness of State agencies.
• Reviews and approves the procurement plans developed by State agencies.
• Ensures transparency of sole source procurement through Monthly Waiver Reports.

For more information, contact:

• Executive Financial Officer Kimberly Kennison at the 860-418-6422.
• Cost-Effectiveness Policy, Manual and Template.
• Cost Benefit Analysis.