Financial management (1 - 10 of 88 items) in Custom Date Range
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...
State and Local Governments' Fiscal Outlook: 2014 Update
GAO-15-224SP: Published: Dec 17, 2014. Publicly Released: Dec 17, 2014.
GAO's State and Local Fiscal SimulationsFiscal sustainability presents a national challenge shared by all levels of government. Since 2007, GAO has published simulations of long-term fiscal trends in the state and local government sector. These simulations have consistently shown that state and local governments face long-term fiscal pressures. Absent any policy changes, the sector will face an in...
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....
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...
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...
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...
State and Local Fiscal Challenges: Rising Health Care Costs Drive Long-term and Immediate Pressures
GAO-09-210T: Published: Nov 19, 2008. Publicly Released: Nov 19, 2008.
GAO was asked to provide its views on projected trends in health care costs and their effect on the long-term outlook for state and local governments in the context of the current economic environment. This statement addresses three key points: (1) the state and local government sector's long-term fiscal challenges; (2) rapidly rising health care costs which drive the sector's long-term fiscal dif...
The Nation's Long-Term Fiscal Outlook: September 2008 Update
GAO-09-94R: Published: Nov 6, 2008. Publicly Released: Nov 6, 2008.
Since 1992, GAO has published long-term fiscal simulations of what might happen to federal deficits and debt levels under varying policy assumptions. We developed our long-term model in response to a bipartisan request from Members of Congress who were concerned about the longterm effects of fiscal policy. GAO runs two simulations: (1) "Baseline Extended" follows the Congressional Budget Office's...
Defense Budget: Independent Review Is Needed to Ensure DOD's Use of Cost Estimating Tool for Contingency Operations Follows Best Practices
GAO-08-982: Published: Sep 15, 2008. Publicly Released: Sep 15, 2008.
Since the September 2001 terrorist attacks, Congress has provided about $800 billion as of July 2008 to the Department of Defense (DOD) for military operations in support of the Global War on Terrorism (GWOT). GWOT budget requests have grown in scope and the amount requested has increased every year. DOD uses various processes and the Contingency Operations Support Tool (COST) to estimate costs fo...
Fiscal Year 2007 U.S. Government Financial Statements: Sustained Improvement in Financial Management Is Crucial to Improving Accountability and Addressing the Long-Term Fiscal Challenge
GAO-08-926T: Published: Jun 26, 2008. Publicly Released: Jun 26, 2008.
The Congress and the President need to have reliable, useful and timely financial and performance information to make sound decisions on the current and future direction of vital federal government programs and policies. Unfortunately, except for the 2007 Statement of Social Insurance, GAO was again unable to provide assurance on the reliability of the consolidated financial statements of the U.S...