Office of State Financial Innovation

OSFI

The Office of State Financial Innovation (OSFI) is an innovative program charged with modernizing and transforming Maryland's financial infrastructure, processes, and technology established under Maryland Code, State Government, § 4-113.

To meet the ongoing and evolving needs of all stakeholders, our programs initiatives focus on enhancing our data security, increasing operational efficiency, and fostering greater transparency for accountability in state financial systems.

As part of this effort, FMIS Modernization Project and the Maryland Accounting Academy (MDAA) work together to drive the ongoing transformation of Maryland’s financial infrastructure.

Check back here in the coming months for more information on what to expect for the FMIS Modernization project and MDAA and to learn about ways to get involved.

Maryland Enterprise Resource Planning

FMIS MODERNIZATION:

The FMIS Modernization project was initiated from legislation passed in 2023 by the General Assembly mandating a modernization of the state’s financial management information systems (FMIS) led by the Office of the Comptroller (COM), in partnership with the Office of the State Treasurer (STO), the Department of Budget and Management (DBM), the Department of Information Technology (DoIT), and the Department of General Services (DGS).

The goal is to modernize Maryland’s financial operations to enhance efficiency, reduce costs, increase transparency, and improve decision-making through technology-driven process optimization.

Maryland Accounting Academy

MD ACCOUNTING ACADEMY:

The Maryland Accounting Academy will offer comprehensive training and support to fiscal staff across the state. With thoughtfully designed educational programs, staff will gain valuable knowledge in state operational financial literacy, including accounting, financial reporting, financial systems, and technical accounting skills. The Academy will also provide courses on fiscal soft skills, finance management, leadership and other professional development opportunities to help staff grow and succeed in their careers.

MDAA is currently piloting with several state agencies and will be launching the MDAA in early 2025.