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Released on April 24, 2017
Aviation Research and Development: FAA Could Improve How It Develops Its Portfolio and Reports Its Activities
GAO-17-372: Published: Apr 24, 2017. Publicly Released: Apr 24, 2017.
The Federal Aviation Administration's (FAA) actions are not fully consistent with requirements, agency guidance, and leading practices related to the management of its research and development (R&D) portfolio. GAO assessed FAA's actions to manage its R&D portfolio in three key areas: (1) developing its portfolio of R&D projects, (2) tracking and evaluating these projects, and (3) reporting on the...
F-35 Joint Strike Fighter: DOD Needs to Complete Developmental Testing Before Making Significant New Investments
GAO-17-351: Published: Apr 24, 2017. Publicly Released: Apr 24, 2017.
For years we've reported on the F-35 program's cost and schedule overruns, knowledge gaps, and performance issues. Although DOD has taken a number of steps to address these concerns, the department continues to struggle to keep the development costs for the baseline aircraft in check—raising questions about DOD's plan to make significant investments in developing new F-35 capabilities. Our reco...
Tennessee Valley Authority: Actions Needed to Better Communicate Debt Reduction Plans and Address Billions in Unfunded Pension Liabilities[back to top]
GAO-17-343: Published: Mar 23, 2017. Publicly Released: Apr 24, 2017.
The Tennessee Valley Authority, the nation's largest public power provider, provides electricity to more than 9 million customers. It raises billions in revenue but also issues bonds to finance its large capital investments (though it is subject to a $30-billion debt limit). The TVA plans to reduce its debt by about $4 billion by 2023 by increasing rates and reducing expenses; it also plans to el...
Released on April 19, 2017
Financial Technology: Information on Subsectors and Regulatory Oversight[back to top]
GAO-17-361: Published: Apr 19, 2017. Publicly Released: Apr 19, 2017.
The financial technology (fintech) industry is generally described in terms of subsectors that have or are likely to have the greatest impact on financial services, such as credit and payments. Commonly referenced subsectors associated with fintech include marketplace lending, mobile payments, digital wealth management, and distributed ledger technology.Marketplace lenders connect consumers and s...
Released on April 18, 2017
Amphibious Combat Vehicle Acquisition: Cost Estimate Meets Best Practices, but Concurrency between Testing and Production Increases Risk
GAO-17-402: Published: Apr 18, 2017. Publicly Released: Apr 18, 2017.
To help transport Marines from ship to shore in hostile conditions, the Marine Corps is investing billions in the Amphibious Combat Vehicle program to replace the retiring Amphibious Assault Vehicle fleet. However, we found that the Marine Corps may be overstating potential savings when comparing these two vehicles because the new ACVs will carry fewer troops than the retiring AAVs. Congress may...
Littoral Combat Ship and Frigate: Delaying Planned Frigate Acquisition Would Enable Better-Informed Decisions
GAO-17-323: Published: Apr 18, 2017. Publicly Released: Apr 18, 2017.
The Navy is moving away from its troubled Littoral Combat Ship program to a new ship—called the frigate—which is based on an LCS design with minor modifications. The Navy's current approach requires that Congress make a significant commitment in 2017 to purchase 12 of these ships. However, we found that key frigate cost and design details will not be available to support Congress's decision. ...
Performance Partnerships: Agencies Need to Better Identify Resource Contributions to Sustain Disconnected Youth Pilot Programs and Data to Assess Pilot Results[back to top]
GAO-17-208: Published: Apr 18, 2017. Publicly Released: Apr 18, 2017.
Performance partnership initiatives allow federal agencies to give their grant recipients flexibility (such as in how they use funding) in exchange for assessing if outcomes improve. There are currently two such initiatives—one involves EPA's environmental grant programs and the other helps youth who are disconnected from school and work. We found that both initiatives reduce administrative bur...