BFS - Budget Formulation System
Investment ID: 020-000010070
Overview
Program Title
BFS - Budget Formulation System
Description
Budget Formulation System (BFS) formerly titled New Budget Formulation System (NBFS) is EPA's one stop shop combining budget formulation, budget execution, reporting, and performance into a single web application.
Type of Program
Non-major IT Investments
Multi-Agency Category
Financial Management
Associated Websites
https://bfs.epa.gov
Investment Detail
BFS has tremendous value in terms of its cost to benefit ratio. The benefits have come in the form of consolidating all functions of budget formulation, budget execution, and performance under this one application. At the same time, BFS has significantly avoided costs, while improving efficiency and time needed to create final budget submissions, reports to Congress, and CPIC reporting. Additionally, BFS system's Operation and maintenance costs are about half of the legacy system and cloud hosting has reduced infrastructure costs as well, for a combined savings of at least $1 million per year.