Financial management (31 - 40 of 554 items)
Internal Revenue Service: Assessment of Budget Justification for Fiscal Year 2011 Identified Opportunities to Enhance Transparency
GAO-10-687R: Published: May 26, 2010. Publicly Released: May 26, 2010.
The financing of the federal government depends importantly on the effectiveness of the Internal Revenue Service's (IRS) ability to administer the tax laws, including achieving its goals of providing taxpayer services to make voluntary compliance easier and enforcing tax laws to ensure everyone meets their obligations to pay taxes. The President requested $12.6 billion to fund IRS's fiscal year (F...
U.S. Government Financial Statements: Fiscal Year 2009 Audit Highlights Financial Management Challenges and Unsustainable Long-Term Fiscal Path
GAO-10-483T: Published: Apr 14, 2010. Publicly Released: Apr 14, 2010.
GAO annually audits the consolidated financial statements of the U.S. government (CFS). Congress and the President need reliable, useful, and timely financial and performance information to make sound decisions and conduct effective oversight of federal government programs and policies. The federal government began preparing the CFS 13 years ago. Over the years, certain material weaknesses in inte...
Joint Strike Fighter: Significant Challenges Remain as DOD Restructures Program
GAO-10-520T: Published: Mar 11, 2010. Publicly Released: Mar 11, 2010.
This testimony discusses our work on the F-35 Lightning II, also known as the Joint Strike Fighter (JSF). The JSF is the Department of Defense's (DOD) most costly and ambitious aircraft acquisition. DOD is seeking to simultaneously develop and field three aircraft variants for the Air Force, Navy, Marine Corps, and eight international partners. The JSF program is to provide critical replacement ai...
Budget Issues: Electronic Processing of Non-IRS Collections Has Increased but Better Understanding of Cost Structure Is Needed
GAO-10-11: Published: Nov 20, 2009. Publicly Released: Nov 20, 2009.
The Department of the Treasury's Financial Management Service (FMS) collections program provides services to agencies to collect, deposit, and account for collections through a variety of methods. Electronic collection methods can reduce government borrowing costs and agency administrative costs, while improving compliance and security. The Government Accountability Office (GAO) was asked to ident...
Debt Management: Treasury Inflation Protected Securities Should Play a Heightened Role in Addressing Debt Management Challenges
GAO-09-932: Published: Sep 29, 2009. Publicly Released: Sep 29, 2009.
The 2008 financial market crisis and the economic recession led to a rapid and substantial increase in federal debt. This report, part of a line of work on debt management, was conducted under the Comptroller General's authority. It describes current debt management challenges and examines the role of a program that could benefit Treasury--Treasury Inflation Protected Securities (TIPS). GAO analyz...
Alcohol and Tobacco Tax and Trade Bureau: Fiscal Year 2010 Proposed Licensing and Registration Fees Program
GAO-09-1023R: Published: Sep 28, 2009. Publicly Released: Sep 28, 2009.
Over the last several weeks, we reviewed the President's fiscal year 2010 budget request for the Alcohol and Tobacco Tax and Trade Bureau (TTB) to provide pertinent and timely information that the Congress could use during budget deliberations. Our objectives were to (1) examine any programs with significant increases from the prior year and any significant unexpended balances and (2) review any n...
Fiscal Year 2008 U.S. Government Financial Statements: Federal Government Faces New and Continuing Financial Management and Fiscal Challenges
GAO-09-805T: Published: Jul 8, 2009. Publicly Released: Jul 8, 2009.
GAO annually audits the consolidated financial statements of the U.S. government (CFS). The Congress and the President need reliable, useful, and timely financial and performance information to make sound decisions and conduct effective oversight of federal government programs and policies. Except for the 2008 and 2007 Statements of Social Insurance, GAO has been unable to provide assurance on the...
Army Working Capital Fund: Actions Needed to Improve Budgeting for Carryover at Army Ordnance
GAO-09-415: Published: Jun 10, 2009. Publicly Released: Jun 10, 2009.
From fiscal years 2004 through 2008, new orders received by the eight Army ordnance activities increased from $788 million to $1.5 billion. To the extent that the ordnance activities do not complete work at year end, the ordered and funded work is carried over into the next fiscal year. While past congressional defense committees recognized the need for carryover, the committees have on occasion r...
Joint Strike Fighter: Strong Risk Management Essential as Program Enters Most Challenging Phase
GAO-09-711T: Published: May 20, 2009. Publicly Released: May 20, 2009.
The F-35 Joint Strike Fighter (JSF) program is the Department of Defense's (DOD's) most costly acquisition, seeking to simultaneously develop, produce, and field three aircraft variants for the Air Force, Navy, Marine Corps, and eight international partners. The total expected U.S. investment is now more than $300 billion to develop and procure 2,456 aircraft over the next 25 years. GAO's most rec...
VA Health Care: Challenges in Budget Formulation and Issues Surrounding the Proposal for Advance Appropriations
GAO-09-664T: Published: Apr 29, 2009. Publicly Released: Apr 29, 2009.
The Department of Veterans Affairs (VA) estimates it will provide health care to 5.8 million patients with appropriations of about $41 billion in fiscal year 2009. It provides a range of services, including primary care, outpatient and inpatient services, long-term care, and prescription drugs. VA formulates its health care budget by developing annual estimates of its likely spending for all its h...