Budgets (1 - 10 of 184 items)
DOD Financial Management: Significant Efforts Still Needed for Remediating Audit Readiness Deficiencies
GAO-17-85: Published: Feb 9, 2017. Publicly Released: Feb 9, 2017.
The Schedules of Budgetary Activity (Budgetary Schedules) for the Army, Navy, and Air Force for fiscal year 2015 reflected current year budget activity as an interim step toward producing an auditable Statement of Budgetary Resources that will reflect multiyear budget activity. All three of the independent public accountants (IPA) contracted to audit these fiscal year 2015 Budgetary Schedules issu...
Independent Auditor's Report on Applying Agreed-Upon Procedures: Fiscal Year 2016 Excise Tax Distributions to the Airport and Airway Trust Fund and the Highway Trust Fund
GAO-17-157R: Published: Nov 9, 2016. Publicly Released: Nov 9, 2016.
GAO performed the procedures contained in the enclosures to this report, which it agreed to perform solely to assist the Department of Transportation’s Inspector General in ascertaining whether the net excise tax revenue distributed to the Airport and Airway Trust Fund (AATF) and the Highway Trust Fund (HTF) for the fiscal year ended September 30, 2016, is supported by underlying records. The en...
Army Working Capital Fund: Army Industrial Operations Could Improve Budgeting and Management of Carryover
GAO-16-543: Published: Jun 23, 2016. Publicly Released: Jun 23, 2016.
GAO's analysis of Army Industrial Operations (Industrial Operations) reports showed that Industrial Operations actual adjusted carryover exceeded its allowable carryover amount from fiscal years 2013 through 2015 by $195 million, $1.1 billion, and $854 million, respectively. This occurred because Industrial Operations performed less work (i.e., earned less revenue) than orders accepted due to staf...
Fiscal Year 2015 U.S. Government Financial Statements: Need to Address the Government's Remaining Financial Management Challenges and Long-Term Fiscal Path
GAO-16-541T: Published: Apr 6, 2016. Publicly Released: Apr 6, 2016.
The Financial Report of the U.S. Government ( Financial Report ) provides important information to the Congress, federal agencies, and the public, including the government's financial condition and the reliability of data used to help support budget and financial decisions. While significant progress has been made in improving federal financial management over the past 20 years, material weaknesse...
Credit Reform: Current Method to Estimate Credit Subsidy Costs Is More Appropriate for Budget Estimates Than a Fair Value Approach
GAO-16-41: Published: Jan 29, 2016. Publicly Released: Feb 29, 2016.
The Federal Credit Reform Act of 1990 (FCRA) requires agencies to estimate the cost to the government of extending or guaranteeing credit. This cost, referred to as subsidy cost, equals the net present value of estimated cash flows from the government (e.g., loan disbursements and claim payments to lenders) minus estimated cash flows to the government (e.g., loan repayments, interest payments, fee...
Inspectors General: Additional Efforts Needed by the Department of Commerce OIG to Address Audit Coverage, Hotline Operations, and Employee Concerns
GAO-15-260: Published: Jun 10, 2015. Publicly Released: Jul 10, 2015.
During fiscal years 2011 through 2013, the Department of Commerce (Commerce) Office of Inspector General (OIG) experienced reductions in total budgetary resources from about $47 million to about $41 million, or almost 13 percent, compared to the average reduction of about 6 percent for all other cabinet-level OIGs. The Commerce OIG had a decline of full-time equivalent staff from 171 to 137, or ab...
Navy Working Capital Fund: Budgeting for Carryover at Fleet Readiness Centers Could Be Improved
GAO-15-462: Published: Jun 30, 2015. Publicly Released: Jun 30, 2015.
GAO's analysis of Navy Working Capital Fund Fleet Readiness Centers' (FRC) budgets found that actual adjusted carryover exceeded allowable carryover in 10 of 11 fiscal years reviewed because orders exceeded work performed (revenue) by more than expected. As a result, total carryover grew to about $1 billion at the end of fiscal year 2014. In fiscal year 2014, the FRCs' actual adjusted carryover am...
Capital Financing: Alternative Approaches to Budgeting for Federal Real Property
GAO-14-239: Published: Mar 12, 2014. Publicly Released: Mar 12, 2014.
Officials at four selected agencies—the General Services Administration (GSA), U.S. Department of Agriculture (USDA), the Department of Veterans Affairs (VA), and the Department of the Interior (Interior)—experienced challenges receiving full upfront funding for federal real property projects through the annual appropriations process. For example, due to budget constraints, GSA acquired one pr...
Management Report: Improvements Needed in Controls over the Preparation of the U.S. Consolidated Financial Statements
GAO-13-540: Published: Jun 28, 2013. Publicly Released: Jun 28, 2013.
During its audit of the fiscal year 2012 consolidated financial statements of the U.S. government (CFS), GAO identified new and continuing control deficiencies in the Department of the Treasury's (Treasury) and the Office of Management and Budget's (OMB) processes used to prepare the CFS. These control deficiencies contributed to material weaknesses in internal control over the federal government'...
Federal Judiciary: Efforts to Consolidate and Share Services between District and Bankruptcy Clerks' Offices
GAO-13-531: Published: Jun 13, 2013. Publicly Released: Jun 13, 2013.
What GAO FoundFew federal judicial districts have consolidated their court clerks' offices; courts are sharing services among the clerks' offices, but the costs and benefits are unclear. Four of the 91 districts served by bankruptcy courts have consolidated the clerks' offices of the district and bankruptcy courts. Court officials in districts that are not considering consolidation told GAO that...