AGA TOPICS Newsletter

AGA Past National President Jeffrey C. Steinhoff, CGFM, Retires

Steadfast, determined, consummate professional, outstanding fiscal steward, and finally, “father.” These were just some of the adjectives used by his colleagues and friends to describe AGA Past National President Jeffery C. Steinhoff, CGFM, CPA, CFE, on the occasion of his retirement this month after 40 years of federal service.

Credited for being the “father” of AGA’s Certified Government Financial Manager (CGFM) Program during his term as 1993–1994 AGA National President, he served as the first Professional Certification Board chairman, from 1994–1998, and continues as a board member today. He is also considered one of the fathers or principal architects behind the groundbreaking 1990 Chief Financial Officers Act.

After graduating from the College of William and Mary, Steinhoff began his federal career as an auditor with the Army Audit Agency. In 1973, he moved to the U.S. General Accounting Office (GAO, now the Government Accountability Office) where he spent the remainder of his career, retiring as managing director for Financial Management and Assurance.

As managing director, he headed up GAO’s largest audit unit, with responsibility for oversight of financial management and auditing issues across the federal government. Included in his duties were the audit of the government’s consolidated financial statements, the establishment of Government Auditing Standards and internal control standards, reviews of internal control, forensic auditing, financial management systems reviews, cost management, improper payments, and the full range of accountability and corporate governance issues.

Steinhoff’s colleagues and friends were effusive in their praise for his many accomplishments over four decades of federal service.

“Jeff, by combining determination, thoroughness, conscientiousness and fairness in your work at GAO and at AGA, you drove financial management to levels heretofore considered unattainable,” said Harold I. Steinberg, CGFM, CPA, technical director for AGA’s Certificate of Excellence Programs, and retired deputy controller, U.S. Office of Management and Budget.

Wendy Payne, CGFM, executive director, Federal Accounting Standards Advisory Board (FASAB), said, “I’ve had the privilege of working with Jeff—on both AGA and FASAB endeavors—for over 16 years now. Jeff is a leader in his field—it’s difficult to know whether to refer to him first as the father of the CFO Act or the CGFM. In each case, he’s had a great idea and been consistent in nurturing it as it grew. In nurturing these ideas, he’s also nurtured the members of his profession—government financial managers. Hopefully, we’ll continue to follow his lead for years to come!”

Steinhoff served under three comptrollers general of the United States, whom he credits for fostering an environment where he could thrive professionally.

“It was a privilege to work with three outstanding comptrollers general: Elmer Staats, Chuck Bowsher and Dave Walker—who epitomize the best in public service and have provided lasting vision to the government accountability community,” Steinhoff said. “Very few people in government have the opportunity to work with such giants in our profession and to have had only three top leaders in more than 34 years with the organization. I have been truly blessed and very much appreciate the opportunities that GAO provided to me to make a difference, which is what public service is all about.”

AGA’s 1989–1990 National President Virginia B. Robinson, CGFM, former executive director of the Joint Financial Management Improvement Program (JFMIP), said, “Jeff has been a stalwart contributor in the financial management and auditing community. His contributions to the CFO Act and other legislation; financial management improvements and best practices through JFMIP; accounting standards, auditing standards and methodologies have been exemplary.”

Steinhoff recalled the early days of his career when there was no such thing as calculators or computers, when audit reports were sent to the typing pool, and work papers were photocopied a page at a time. He leaves a government confronted by escalating fiscal problems that will continue to challenge the federal financial management community. Chief among his concerns for the future is “finding ways to add greater value to program and operational managers by providing reliable, relevant and timely information for decision support and day-to-day operations.” He hopes to see the focus move from transaction processing to providing useful information to program managers, a shift he called “moving from the backroom to the boardroom.”

“While important as a measure of an organization’s ability to be accountable, audited financial statements provide a historical perspective and have proven at the federal level to still be of little value to the program manager and the overseer, such as Congress, who need a different portfolio of information to do their jobs,” he said.

He looks back with pride on the 1990 CFO Act, which he says has had a “profound impact” on the government financial management community and government accountability in general. With 17 years’ perspective, he said much has changed since the bill was passed.

“Who would have ever imagined that 19 of 24 CFO agencies would be receiving clean audit opinions only 45 days after the end of the fiscal year and that internal control weaknesses would be significantly reduced?” he asked. “Who would have imagined financial management making a president’s radar, but it is an integral part of the President’s Management Agenda and has been so since the start of the Bush administration. Who would have imagined a clean opinion on a primary government-wide financial statement, but this year GAO rendered a clean opinion on the Statement of Social Insurance? Who would have imagined outsourcing accounting to another federal agency, but this is happening. By any measure the journey is not over, but the range of management legislation has resulted in better government.”

He continued, “We now need to move to the next leg of the journey and successfully address what I view as the three key provisions of the CFO Act: the systematic measurement of performance, the development of cost information and the integration of systems—program, budget and accounting.”

Value of Membership
An AGA member since 1976, Steinhoff said AGA membership is “the best way to broaden one’s perspective on financial management and auditing issues, network among peers at all levels across government, and have a chance to lead and make a difference while growing as a professional. Just getting to know others outside your own organization is invaluable and makes it much easier to navigate through the layers and different facets of government.”

One of his AGA colleagues in state government was AGA’s 1992–1993 National President Charles L. Harrison, CGFM, CPA, director of Management Services and Assistant to the Comptroller, Comptroller of the Treasury, state of Tennessee.

“Under Jeff’s guidance and leadership, distinctive improvements and additions have been made to AGA programs,” said Harrison.

“Amidst adversity, Jeff made it his passion and goal to create a professional certification program for government financial managers,” Harrison continued. “His fundamental ability to ‘talk the talk’ and ‘walk the walk’ guided his success in creating the Certified Government Financial Manager (CGFM) at AGA, which resulted in AGA membership growth for the first time in years. It also advanced AGA’s stature as being the premier professional association for state, federal and local government financial management professionals.”

AGA’s 2002–2003 National President William J. Anderson Jr., CGFM, agrees. “The CGFM certification greatly enhanced AGA’s national prestige and stature in the accountability profession. Jeff will forever stand as a role model for all accountability professionals.”

When looking back at the start of the CGFM Program, Steinhoff credits AGA’s National Board of Directors for “taking a chance” on an idea put forth by a President with a one-year term. “Without their support,” he said, “we would not have been able to begin the journey. Once we got the thumbs up, it was a labor of love, with too many volunteers to mention coming to the forefront to contribute their precious time and vast talents to implement the program and developing the CGFM Exams. It is an example of what AGA members can achieve when they work together toward a common goal.”

Throughout his career, Steinhoff, a member of the Northern Virginia Chapter, mentored young professionals and encouraged their development through membership in organizations such as AGA.

“What a role model he has been in mentoring as well as hosting meetings for ‘early career’ members in AGA,” Robinson said. “His leadership role in the CGFM Program, the best conferences, and other educational activities have acquainted us with the consummate professional.”

Anderson concurred. “Looking at Jeff’s 40-year government career I see a strategic thinker who epitomizes excellence in public service. He is an exceptional leader, visionary and consensus builder who greatly enhanced government financial management and the accountability profession. Jeff was the principal architect of the CFO Act of 1990 and championed many other federal financial management improvement initiatives.”

The recipient of AGA’s highest honor, the Robert W. King Memorial Award in 1996, Steinhoff also received the AGA’s Distinguished Leadership Award in 1990, AGA’s Elmer Staats Award in 1999, AGA National President’s Awards in 1995, 1997 and 2003, and was one of 23 people recognized by AGA in 2000 for significant contributions toward advancing government accountability during the Association’s first 50 years.

Other awards included GAO’s Distinguished Service Award in 1984, 1991 and 1998; the America Institute of Certified Public Accountants’ Outstanding CPA in the Federal Government in 2006; the first National Intergovernmental Audit Forum’s Distinguished Federal Leadership Award in 2006; Office of Secretary of Defense Award for Excellence in 2007; and the Comptroller General’s Award, GAO’s highest honor, in 2007. He attained the rank of Meritorious Executive in the Senior Executive Service and received many other awards and honors during his long career.

“On behalf of the entire AGA membership, I want to thank Jeff Steinhoff for his many enduring contributions to our Association and the profession we serve,” said AGA Executive Director Relmond Van Daniker, DBA, CPA. “I hope he will continue to be an active, vital participant going forward.”

As for what’s ahead, Steinhoff said he’s considering a number of interesting professional opportunities but hasn’t yet made any decisions. For the immediate time being, he is enjoying retirement. “I’ve been retired for three days, and so far, so good,” he joked recently.

There’s no question that his influence will be felt throughout government for many years to come.

“Jeff Steinhoff leaves a legacy as a steadfast advocate for exemplary stewardship of taxpayer funds,” said Donald V. Hammond, deputy director, Division of Reserve Bank Operations & Payment Systems, Board of Governors, Federal Reserve System.

By: Marie S. Force

Read our complete Q&A interview with Jeff Steinhoff.