Financial management (81 - 90 of 567 items)
Bureau of Reclamation: Opportunities Exist to Improve Managerial Cost Information and Cost Recovery
GAO-02-973: Published: Sep 20, 2002. Publicly Released: Sep 20, 2002.
In a previous report (GAO/AIMD-00-127, May 2000), GAO identified reimbursable project costs that were not being recovered by the Department of the Interior's Bureau of Reclamation. In this report, GAO reviewed the Bureau of Reclamation's managerial cost accounting and cost recovery practices. The Bureau does not currently identify and distribute all of the costs it incurs to its specific projects...
JFMIP News: A Newsletter for Government Financial Managers, Summer 2002, Vol. 14, No. 2
A05060: Sep 1, 2002
GAO provided information on the Joint Financial Management Improvement Program's current financial management initiatives activities, and practices...
Customs Service Modernization: Third Expenditure Plan Meets Legislative Conditions, but Cost Estimating Improvements Needed
GAO-02-908: Published: Aug 9, 2002. Publicly Released: Aug 9, 2002.
The U.S. Customs Service has begun a multiyear, multibillion-dollar project: the Automated Commercial Environment (ACE), a new import processing system that is planned to support effective and efficient movement of goods into the United States. By congressional mandate, Customs' expenditure plans for ACE must meet certain conditions, including being reviewed by GAO. This report addresses whether C...
Canceled DOD Appropriations: Improvements Made but More Corrective Actions Are Needed
GAO-02-747: Published: Jul 31, 2002. Publicly Released: Jul 31, 2002.
Congress changed the law governing the use of appropriation accounts in 1990 because it found that the Department of Defense (DOD) may have spent hundreds of millions of dollars for purposes that Congress had not approved. The 1990 law provided that, 5 years after the expiration of the period of availability of a fixed-term appropriation, the appropriation account be closed and all remaining balan...
Civil Fines and Penalties Debt: Review of U.S. Customs Service's Management and Collection Processes
GAO-02-655: Published: May 31, 2002. Publicly Released: Jul 1, 2002.
GAO reviewed the Customs Service's management of and practices for collecting civil fines and penalties (CFP) debt. GAO found that Customs' gross CFP debt more than tripled from the start of fiscal year 1997 to the end of fiscal year 2000, rising from $218.1 million as of October 1, 1996, to $773.6 million as of September 20, 2000. During the same period, Customs annually reserved from 75 to 87 pe...
OFHEO's Risk-Based Capital Stress Test: Incorporating New Business Is Not Advisable
GAO-02-521: Published: Jun 28, 2002. Publicly Released: Jun 28, 2002.
GAO reviewed whether the Office of Federal Housing Enterprise Oversight (OFHEO) should incorporate new business assumptions into the stress test used to establish risk-based capital requirements. The stress test is designed to estimate, for a 10-year period, how much capital the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) would be...
JFMIP: Acquisition/Financial Systems Interface Requirements; June 2002
JFMIP-SR-02-02: Published: Jun 1, 2002. Publicly Released: Jun 1, 2002.
Acquisition/Financial Systems Interface Requirements is one of a series of functional systems requirements documents published by the Joint Financial Management Improvement Program dealing with Federal financial management systems. To this end, the document identifies existing governmentwide statutory and regulatory requirements associated with the mutual functional interfaces between finance and...
Tennessee Valley Authority: Information on Benchmarking and Electricity Rates
GAO-02-636: Published: May 30, 2002. Publicly Released: May 30, 2002.
The Tennessee Valley Authority (TVA) declared its intent to become competitive by reducing its cost of power and becoming more financially flexible by reducing debt from $27.4 billion to $13.2 billion by 2007. Since the 1980s, TVA has used benchmarking to assess staffing levels for its nuclear program and it began to use benchmarking studies for its non-nuclear business units in 1998. Recent studi...
Social Security Administration: Agency Must Position Itself Now to Meet Profound Challenges
GAO-02-289T: Published: May 2, 2002. Publicly Released: May 2, 2002.
The Social Security Administration (SSA) provided $450 billion in benefits to 50 million recipients in fiscal year 2001. Since 1995, when SSA became an independent agency, GAO has called for effective leadership and sustained management attention to several unresolved management challenges, including the redesign of its disability claims process, management and oversight problems with its SSI prog...
Education Financial Management: Weak Internal Controls Led to Instances of Fraud and Other Improper Payments
GAO-02-406: Published: Mar 28, 2002. Publicly Released: Apr 10, 2002.
Because of internal control weaknesses, the Department of Education's student financial assistance programs are at high risk for fraud or erroneous payments. GAO discovered fraud in the grant and loan areas and pervasive control breakdowns and improper payments in other areas. Controls over grant and loan disbursements lacked a key edit check or follow-up process that would identify schools impro...