The Office of Management and Budget has issued a memorandum that outlines measures and goals federal agencies should implement to comply with the Modernizing Government Technology Act that aims to facilitate information technology system upgrades, Nextgov reported Tuesday.
OMB Director Mick Mulvaney said in the Tuesday memo agencies seeking to receive funds through the potential $500 million Technology Modernization Fund should submit initial project proposals.
OMB started accepting proposals Tuesday for evaluation by the Technology Modernization Board based on technical, financial and operational criteria, according to the document.
The board will be set up on March 12 and will be chaired by the federal chief information officer.
Federal CIO Suzette Kent will lead the seven-member board that includes a senior General Services Administration IT official, a member of the Department of Homeland Security's national protection and programs directorate and four federal IT employees, the report noted.
The memo also directed CFO Act agencies to inform OMB by March 26 if they plan to set up an IT working capital fund in fiscal year 2018 and create a Treasury account for the fund.