Budgets (1 - 10 of 63 items)
Defense Budget: DOD Needs to Improve Reporting of Operation and Maintenance Base Obligations
GAO-16-537: Published: Aug 16, 2016. Publicly Released: Aug 16, 2016.
Congress enacted funding for the Department of Defense's (DOD) Operation and Maintenance (O&M) into multiple base appropriations accounts, which are used to pay for day-to-day programs and activities. This enacted funding generally has increased each year since fiscal year 2009, with the exception of fiscal year 2013, when sequestration reduced funding for O&M base.GAO found that DOD used its auth...
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...
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...
Army Industrial Operations: Budgeting and Management of Carryover Could Be Improved
GAO-13-499: Published: Jun 27, 2013. Publicly Released: Jun 27, 2013.
From fiscal years 2006 through 2012, Army's Industrial Operations' actual carryover was under the allowable amounts in 5 of the 7 fiscal years. However, carryover more than doubled during that period, reaching a high of $5.8 billion in fiscal year 2011. Army officials stated that fiscal year 2011 was an abnormal year because Industrial Operations (1) received more orders than it had ever received-...
The Federal Government's Long-Term Fiscal Outlook: Spring 2013 Update
GAO-13-481SP: Published: Apr 11, 2013. Publicly Released: Apr 11, 2013.
Since 1992, GAO has published long-term fiscal simulations showing federal deficits and debt under different sets of policy assumptions.GAO developed its long-term model in response to a bipartisan request from members of Congress concerned about the long-term effects of fiscal policy. GAO's simulations provide context for consideration of policy options. They are not intended to suggest particula...
Marine Corps Depot Maintenance: Budgeting and Management of Carryover Could Be Improved
GAO-12-539: Published: Jun 19, 2012. Publicly Released: Jun 19, 2012.
GAOs analysis of Marine Corps depot maintenance activity group (DMAG) reports showed that from fiscal years 2004 through 2011, reported actual carryover exceeded the allowable amounts in the most recent 6 years of the 8- year period, ranging from $59 million in fiscal year 2007 to $7 million in fiscal year 2011. GAOs analysis also showed that the amounts of carryover exceeding the allo...
Debt Management: Buybacks Can Enhance Treasury's Capacity to Manage under Changing Market Conditions [Reissued on March 21, 2012]
GAO-12-314: Published: Mar 7, 2012. Publicly Released: Mar 7, 2012.
Debt buybacks can help advance Treasury’s goals under a variety of budget and market conditions. For example, Treasury currently faces rollover peaks—large increases in the amounts of maturing debt that must be refinanced at a given time—which expose Treasury to the risk of refinancing large amounts of debt when interest rates are less favorable. All four of our case study countries use debt...
Air Force Working Capital Fund: Budgeting and Management of Carryover Work and Funding Could Be Improved
GAO-11-539: Published: Jul 7, 2011. Publicly Released: Jul 7, 2011.
Three Air Force depots support combat readiness by providing repair services to keep Air Force units operating worldwide. To the extent that the depots do not complete work at year end, the work and related funding will be carried into the next fiscal year. Carryover is the reported dollar value of work that has been ordered and funded by customers but not completed at the end of the fiscal year....
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...