Financial management (91 - 100 of 2,571 items)
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'...
U.S. Army Corps of Engineers: Building Overhead Costs into Projects and Customers' Views on Information Provided
GAO-13-528: Published: Jun 19, 2013. Publicly Released: Jun 26, 2013.
The U.S. Army Corps of Engineers (Corps) uses a multistep process to build overhead costs into projects. At the foundation of this process, Corps policy establishes two categories of costs to calculate overhead--general and administrative overhead expenses associated with district administrative offices, such as resource management, and technical overhead expenses associated with district technica...
Grants Management: Improved Planning, Coordination, and Communication Needed to Strengthen Reform Efforts
GAO-13-383: Published: May 23, 2013. Publicly Released: Jun 24, 2013.
In the past 14 years, since the passage of the Federal Financial Assistance Management Improvement Act of 1999 (P.L. 106-107), there has been a series of legislative- and executive-sponsored initiatives aimed at reforming aspects of the grants management life cycle. Recently, a new grants reform governance body, the Council on Financial Assistance Reform (COFAR), replaced two former federal boards...
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...
DOD Financial Management: Significant Improvements Needed in Efforts to Address Improper Payment Requirements
GAO-13-227: Published: May 13, 2013. Publicly Released: Jun 6, 2013.
The Department of Defense (DOD) did not adequately implement key provisions of the Improper Payments Information Act of 2002 (IPIA) and the Improper Payments Elimination and Recovery Act of 2010 (IPERA) and Office of Management and Budget (OMB) requirements for fiscal year 2011. Most important, GAO found that DOD's improper payment estimates reported in its fiscal year 2011 Agency Financial Report...
Financial Audit: Congressional Award Foundation's Fiscal Years 2012 and 2011 Financial Statements
GAO-13-554: Published: May 15, 2013. Publicly Released: May 15, 2013.
In GAOs audits of the Congressional Award Foundations (Foundation) financial statements for fiscal years 2012 and 2011, it found that the Foundations financial statements are presented fairly, in all material respects, in conformity with U.S. generally accepted accounting principles. GAO also identified no material weaknesses in internal control over financial reporting, and no r...
Management Report: Improvements Are Needed to Enhance the Internal Revenue Service's Internal Controls
GAO-13-420R: Published: May 13, 2013. Publicly Released: May 13, 2013.
During its audit of the Internal Revenue Service's (IRS) fiscal year 2012 financial statements, GAO identified one new internal control deficiency that contributed to IRS's continuing material weakness in internal control over unpaid tax assessments as of September 30, 2012. Specifically, IRS's controls over its process for estimating the balances of federal taxes receivable and other unpaid tax a...
Capitol Preservation Fund: Audit of Fiscal Years 2011 and 2012 Transactions
GAO-13-489R: Published: May 1, 2013. Publicly Released: May 1, 2013.
For fiscal years 2011 and 2012, the Capitol Preservation Funds (Fund) recorded transactions consisted of 101 investment and operating transactions. With the exception of one investment purchase, the Funds recorded transactions were authorized in advance, supported by documentation, accurately accounted for, and in compliance with the applicable laws that GAO deemed significant to its a...
Medicaid: Enhancements Needed for Improper Payments Reporting and Related Corrective Action Monitoring
GAO-13-229: Published: Mar 29, 2013. Publicly Released: May 1, 2013.
The Centers for Medicare & Medicaid Services' (CMS) methodology for estimating a national improper payment rate for the Medicaid program is statistically sound. However, CMS's procedures did not provide for updating state data used in its methodology to recognize significant corrections or adjustments after the cutoff date. The Office of Management and Budget (OMB) requires that federal agencies e...
Senate Preservation Fund: Audit of Fiscal Years 2011 and 2012 Transactions
GAO-13-490R: Published: May 1, 2013. Publicly Released: May 1, 2013.
For fiscal years 2011 and 2012, the Senate Preservation Funds (Fund) recorded transactions consisted of 22 investment and operating transactions. The Funds recorded transactions were authorized in advance, supported by documentation, accurately accounted for, and in compliance with the applicable laws that GAO deemed significant to its audit objectives.GAO also found that the Senate Co...