GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
Asset management firms manage trillions of dollars. Minority- and women-owned firms manage very few of these assets. These firms face challenges when competing for investment management opportunities in both the private and federal sectors.
What GAO Found According to asset managers and industry associations with which GAO spoke, minority- and women-owned (MWO) asset managers face challenges when competing for investment management opportunities with institutional investors, such as retirement plans and foundations.
Pursuant to a legislative requirement, GAO provided information on the Department of Defense's (DOD) domestic banking program on military bases, focusing on whether: (1) domestic military bases have followed DOD procedures to provide for open solicitations in obtaining banking services; (2) on-base financial...
The Department of Defense (DOD) supplements the cost of morale, welfare, and recreation (MWR) programs with nonappropriated funds. These programs generate approximately $5 billion in receipts each year which are managed by central offices in each military department.