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.
The Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget (OMB), is required to annually prepare and submit audited financial statements of the U.S. government to the President and the Congress.
In fiscal year 2004 federal spending on service contracts grew to over $189 billion governmentwide. This growth, along with cuts in the acquisition workforce and increases in high-dollar procurement actions, creates a challenging environment.
Pursuant to a congressional request, GAO provided information on the implementation of the Federal Activities Inventory Reform (FAIR) Act of 1998, focusing on: (1) the overall initial implementation of the FAIR Act; (2) the clarity and understandability of five agencies' FAIR Act inventories; (3) the...