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Budget and Spending (41 - 50 of 4,944 items) in Custom Date Range
Federal Spending Accountability: Preserving Capabilities of Recovery Operations Center Could Help Sustain Oversight of Federal Expenditures
GAO-15-814: Published: Sep 14, 2015. Publicly Released: Sep 14, 2015.
The Recovery Accountability and Transparency Board's (Recovery Board) Recovery Operations Center (ROC) provided significant analytical services primarily to Offices of the Inspector General (OIG) to support antifraud and other activities. Congress initially established the Recovery Board to oversee funds appropriated by the American Recovery and Reinvestment Act of 2009. Subsequently, it expanded...
Pay for Success: Collaboration among Federal Agencies Would be Helpful as Governments Explore New Financing Mechanisms
GAO-15-646: Published: Sep 9, 2015. Publicly Released: Sep 9, 2015.
Pay for Success (PFS), also known as Social Impact Bonds, is a new contracting mechanism to fund prevention programs, where investors provide capital to implement a social service— for example, to reduce recidivism by former prisoners. If the service provider achieves agreed upon outcomes, the government pays the investor, usually with a rate of return, based on savings from decreased use of mor...
U.S. Savings Bonds: Future of Offering Paper Savings Bonds at Tax Time Is Uncertain, and Lower-Income Households Continue to Face Savings Challenges
GAO-15-563: Published: Jul 16, 2015. Publicly Released: Aug 17, 2015.
The Department of the Treasury's (Treasury) elimination of paper savings bonds made buying bonds more difficult for some customers, but GAO's analyses generally indicated that the decline in bond purchases after the change was not statistically significant. Treasury eliminated paper savings bonds in January 2012, after a long-term decline in savings bond purchases. It estimated the change would sa...
IRS 2016 Budget: IRS Is Scaling Back Activities and Using Budget Flexibilities to Absorb Funding Cuts
GAO-15-624: Published: Jun 24, 2015. Publicly Released: Jul 24, 2015.
Business unit trends. Internal Revenue Service (IRS) total appropriations declined from a high of $12.1 billion in fiscal year 2010 to $11.3 billion in fiscal year 2014, a reduction of about 7 percent. GAO selected business units with large declines in obligations—both dollar amount and percent—from fiscal year 2010 to fiscal year 2014, the most current spending data available. To absorb budge...
Debt Limit: Market Response to Recent Impasses Underscores Need to Consider Alternative Approaches
GAO-15-476: Published: Jul 9, 2015. Publicly Released: Jul 9, 2015.
During the 2013 debt limit impasse, investors reported taking the unprecedented action of systematically avoiding certain Treasury securities—those that matured around the dates when the Department of the Treasury (Treasury) projected it would exhaust the extraordinary measures that it uses to manage federal debt when it is at the limit. For the affected Treasury securities, these actions result...
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...
DOD Operational Testing: Oversight Has Resulted in Few Significant Disputes and Limited Program Cost and Schedule Increases
GAO-15-503: Published: Jun 2, 2015. Publicly Released: Jun 2, 2015.
The Director, Operational Test and Evaluation (DOT&E) provided oversight for 454 Department of Defense (DOD) acquisition programs from fiscal years 2010-2014. Military service officials identified 42 programs from that period that they believed had significant disputes with DOT&E over operational testing—that is, disputes that may have led to cost and schedule impacts for programs. Operational t...
Sequestration: Documenting and Assessing Lessons Learned Would Assist DOD in Planning for Future Budget Uncertainty
GAO-15-470: Published: May 27, 2015. Publicly Released: May 27, 2015.
To implement sequestration in fiscal year (FY) 2013, the Department of Defense's (DOD) discretionary resources were reduced in approximate proportion to the size of its appropriation accounts, with the largest reductions to DOD's largest accounts, operation and maintenance. The military services' accounts absorbed about 76 percent of DOD's reduction relative to other defense accounts. In contrast...
Budgeting for Disasters: Approaches to Budgeting for Disasters in Selected States
GAO-15-424: Published: Mar 26, 2015. Publicly Released: Apr 27, 2015.
The 10 selected states in GAO's review—Alaska, California, Florida, Indiana, Missouri, New York, North Dakota, Oklahoma, Vermont, and West Virginia—had established budget mechanisms to ensure the availability of funding for the immediate costs of unforeseen disasters and the ongoing costs of past disasters. All 10 states provided disaster funds at the start of the fiscal year and then as neede...
Municipalities in Fiscal Crisis: Federal Agencies Monitored Grants and Assisted Grantees, but More Could Be Done to Share Lessons Learned
GAO-15-222: Published: Mar 20, 2015. Publicly Released: Mar 20, 2015.
Grant management challenges experienced by municipalities in fiscal crisis. The diminished capacity of selected municipalities in fiscal crisis hindered their ability to manage federal grants in several ways. First, reductions in human capital capacity through the loss of staff greatly reduced the ability of some cities to carry out grant compliance and oversight responsibilities. Second, the loss...