Financial management systems (1 - 10 of 24 items)
Financial Management Systems: HUD Needs to Address Management and Governance Weaknesses That Jeopardize Its Modernization Efforts
GAO-16-656: Published: Jul 28, 2016. Publicly Released: Jul 28, 2016.
In October 2015, as part of its planned New Core financial management systems modernization efforts, the Department of Housing and Urban Development (HUD) completed transitioning 4 of 14 capabilities to shared service solutions. The implemented capabilities were for managing employee travel and relocation; recording time and attendance; performing core accounting functions such as general ledger a...
Financial Audit: Federal Housing Finance Agency's Fiscal Years 2012 and 2011 Financial Statements
GAO-13-124R: Published: Nov 15, 2012. Publicly Released: Nov 15, 2012.
GAO found (1) the financial statements are presented fairly, in all material respects, in conformity with U.S. generally accepted accounting principles; (2) the Federal Housing Finance Agency (FHFA) maintained, in all material respects, effective internal control over financial reporting as of September 30, 2012; and (3) no reportable noncompliance in fiscal year 2012 with provisions of laws and r...
Public Housing: HUD's Oversight of Housing Agencies Should Focus More on Inappropriate Use of Program Funds
GAO-09-33: Published: Jun 11, 2009. Publicly Released: Jun 11, 2009.
The Department of Housing and Urban Development (HUD) provided over $6.7 billion in fiscal year 2008 to housing agencies to operate, modernize, and develop about 1.2 million public housing units. It is important that HUD exercise sufficient oversight of housing agencies to help ensure that public housing funds are being used as intended and properly managed. In this report, GAO examines HUD's over...
Managerial Cost Accounting Practices: Department of Agriculture and the Department of Housing and Urban Development
GAO-06-1002R: Published: Sep 21, 2006. Publicly Released: Sep 21, 2006.
Authoritative bodies have promulgated laws, accounting standards, information system requirements, and related guidance to emphasize the need for cost information and cost management in the federal government. For example, the Chief Financial Officers (CFO) Act of 1990 contains several provisions related to managerial cost accounting (MCA), one of which states that an agency's CFO should develop a...
Department of Housing and Urban Development: Status of Efforts to Implement an Integrated Financial Management System
GAO-03-447R: Published: Apr 9, 2003. Publicly Released: Apr 9, 2003.
Weaknesses in the Department of Housing and Urban Development's (HUD) financial management systems have been a long-standing challenge for the department and have contributed to our designating two of its major programs areas as high-risk and the financial management information systems in particular as a major management challenge. While some progress has been made, both GAO and the HUD Office of...
HUD Management: HUD's High-Risk Program Areas and Management Challenges
GAO-02-869T: Published: Jul 24, 2002. Publicly Released: Jul 24, 2002.
This testimony discusses the high-risk program areas and management challenges at the Department of Housing and Urban Development (HUD). For many years, management and oversight weaknesses have made its programs vulnerable to fraud, waste, abuse, and mismanagement. The current administration has placed improving HUD's management among its highest priorities and wants to remove the high-risk design...
HUD Management: Progress Made on Management Reforms, but Challenges Remain
GAO-02-45: Published: Oct 31, 2001. Publicly Released: Oct 31, 2001.
In 1997, the Department of Housing and Urban Development (HUD) began a management reform effort, called the 2020 Management Reform Plan, to resolve its management and operational problems. GAO found that HUD has had some successes in implementing the management reforms, but challenges remain. Some initiatives, such as consolidating and streamlining operations, were achieved relatively quickly and...
HUD Management: Status of Actions to Resolve Serious Internal Control Weaknesses
GAO-01-103: Published: Oct 16, 2000. Publicly Released: Oct 16, 2000.
This report discusses the Department of Housing and Urban Development's (HUD) efforts to resolve serious internal control weaknesses. During the past several years, serious internal control weaknesses and other deficiencies have plagued HUD's activities. In 1997, HUD announced its 2020 Management Reform Plan to overcome the agency's problems. HUD has made reasonable progress toward resolving mater...
Management Challenges: GAO's Responses to HUD's Comments
RCED/AIMD-99-189: Published: Jul 14, 1999. Publicly Released: Jul 14, 1999.
Pursuant to a congressional request, GAO responded to the Deputy Secretary of the Department of Housing and Urban Development's (HUD) statements regarding GAO's designation of HUD's programs as a high-risk area.GAO noted that: (1) GAO designated HUD's programs as a high-risk area in 1994 because of: (a) internal control weaknesses; (b) poorly integrated, ineffective, and generally unreliable infor...
HUD Management: Major Challenges and Program Risks
T-RCED/AIMD-99-126: Published: Mar 23, 1999. Publicly Released: Mar 23, 1999.
Pursuant to a congressional request, GAO discussed its January 1999 report on the Department of Housing and Urban Development's (HUD) major management challenges and program risks, focusing on: (1) corrective actions that HUD has taken or initiated on its major management challenges; (2) major management challenges that remain and limit HUD's effectiveness in carrying out its mission; and (3) furt...