Challenge: Effective Implementation As Critical Deadlines Approach
The transition to a new administration presents risks to the effective implementation of the DATA Act due to
turnover of key officials in coming months when critical steps are required to meet the May 2017 statutory
deadline for agencies to submit financial information.
Government-wide data standards for financial reporting are essential to fully identify the magnitude of
federal spending and enable agencies to share data with each other, Congress, and the public. Full and effective
implementation of the DATA Act will allow federal funds to be tracked at multiple points in the federal
spending life cycle and significantly increase the types of data reported.
The DATA Act requires the federal government to set government-wide data standards, identify ways to reduce
reporting burdens, and regularly review data quality to help improve the transparency and accountability of
federal spending data. If implemented effectively, the act should produce financial information that will
likely improve government decision-making, oversight, and transparency.