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Financial Efficiency Index

The Financial Efficiency Index (FEI) is a performance indicator that is a part of the ASN (FM&C) strategic vision to measure and improve program performance by cascading performance measures to the lowest level so that individuals can influence how they are being measured and rewarded under performance evaluation systems. The goal is to institutionalize a performance-based culture and lay the foundation for measurements that can be specifically tied to individuals’ performance plans. This initiative is aligned with the objectives of the Department of Navy senior leadership and the President’s Management Agenda. The goal is to implement the FEI in all applicable areas of the Department of the Navy.

The FEI was drafted by the ASN (FM&C) Office of Budget in consultation with the Office of Financial Operations and will be maintained by the Program/Budget Coordination Division (FMB3). A working group with five Principal Administering Office (PAO) representatives was instrumental in evaluating and refining definitions and business rules for the index calculation. In the future, the index definitions and business rules will be reviewed annually at a minimum for relevance and currency, and changes will be coordinated with PAOs to ensure a strong partnership in administering the FEI throughout the Department of the Navy.

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