Financial management systems (1 - 10 of 68 items) in Custom Date Range
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...
Defense Major Automated Information Systems: Cost and Schedule Commitments Need to Be Established Earlier
GAO-15-282: Published: Feb 26, 2015. Publicly Released: Feb 26, 2015.
A majority of the 20 selected Department of Defense (DOD) major automated information systems (MAIS) programs had not established their first baselines (which consist of a life cycle cost estimate, a schedule estimate, and performance targets) within 2 years from program start; over half met or planned to meet a statutorily established time frame for deploying capabilities. While the Defense Scien...
Information Technology Dashboard: Opportunities Exist to Improve Transparency and Oversight of Investment Risk at Select Agencies
GAO-13-98: Published: Oct 16, 2012. Publicly Released: Nov 15, 2012.
Chief Information Officers (CIO) at six federal agencies rated the majority of their information technology (IT) investments as low risk, and many ratings remained constant over time. Specifically, CIOs at the selected agencies rated a majority of investments listed on the federal IT Dashboard as low risk or moderately low risk from June 2009 through March 2012; at five of these agencies, these ri...
Financial Management Systems: Status of OMB's Review of Financial System Projects
GAO-12-184R: Published: Feb 8, 2012. Publicly Released: Mar 12, 2012.
OMB developed the June 2010 memorandum in consultation with the CFO Council and created FSAB to assist in its oversight and review of agency financial system projects as announced in the June 2010 memorandum. In November 2010, OMB reported an overall budget savings of $1.6 billion as a result of decisions to postpone, cancel, or revise the scope of projects initially reviewed. In response to our s...
Information Technology: OMB Needs to Improve Its Guidance on IT Investments
GAO-11-826: Published: Sep 29, 2011. Publicly Released: Oct 26, 2011.
The federal government invests heavily in information technology (IT). In recent years, the Office of Management and Budget (OMB) has made efforts to improve the transparency, oversight, and management of the federal government's IT investments. More recently, in June 2009, OMB deployed the IT Dashboard, a Web-based system that provides detailed performance information on federal IT investments. G...
Financial Management Systems: Experience with Prior Migration and Modernization Efforts Provides Lessons Learned for New Approach
GAO-10-808: Published: Sep 8, 2010. Publicly Released: Sep 15, 2010.
In 2004, the Office of Management and Budget (OMB) launched the financial management line of business (FMLOB) initiative, in part, to reduce the cost and improve the quality and performance of federal financial management systems by leveraging shared services available from external providers. In response to a request to study FMLOB-related issues, this report (1) identifies the steps agencies hav...
Information Technology: OMB's Dashboard Has Increased Transparency and Oversight, but Improvements Needed
GAO-10-701: Published: Jul 16, 2010. Publicly Released: Jul 20, 2010.
Federal IT spending has risen to an estimated $79 billion for fiscal year 2011. To improve transparency and oversight of this spending, in June 2009 the Office of Management and Budget (OMB) deployed a public website, known as the IT Dashboard, which provides information on federal agencies' major IT investments, including assessments of actual performance against cost and schedule targets (referr...
Business Systems Modernization: Scope and Content of DOD's Congressional Report and Executive Oversight of Investments Need to Improve
GAO-10-663: Published: May 24, 2010. Publicly Released: May 24, 2010.
Since 1995, GAO has designated the Department of Defense's (DOD) multibillion dollar business systems modernization program as high risk, and it continues to do so today. To assist in addressing DOD's modernization challenges, the Ronald W. Reagan National Defense Authorization Act for Fiscal Year 2005 (the act) requires the department to, among other things, report specific information about busi...
Financial Management Systems: DHS Faces Challenges to Successfully Consolidating Its Existing Disparate Systems
GAO-10-76: Published: Dec 4, 2009. Publicly Released: Dec 4, 2009.
In June 2007, GAO reported that the Department of Homeland Security (DHS) had made little progress in integrating its existing financial management systems and made six recommendations focused on the need for DHS to define a departmentwide strategy and embrace disciplined processes. In June 2007, DHS announced its new financial management systems strategy, called the Transformation and Systems Con...
Information Technology: Actions Needed to Fully Establish Program Management Capability for VA's Financial and Logistics Initiative
GAO-10-40: Published: Oct 26, 2009. Publicly Released: Dec 1, 2009.
Since 2005, the Department of Veterans Affairs (VA) has been undertaking an initiative to develop an integrated financial and asset management system known as the Financial and Logistics Integrated Technology Enterprise (FLITE). FLITE is the successor to an earlier initiative known as the Core Financial and Logistics System (CoreFLS) that the department undertook in 1998 and discontinued in 2004 b...