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.
Fiscal year 2005 marked the second year that executive agencies were required to report improper payment information under the Improper Payments Information Act of 2002 (IPIA). The ultimate goal is to minimize such payments because, as a practical matter, they cannot be entirely eliminated.
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 May 2003, the Office of Management and Budget (OMB) released a revised Circular A-76, which represents a comprehensive set of changes to the rules governing competitive sourcing--one of five governmentwide items in the President's Management Agenda.
GAO analyzed federal government budget practices in order to produce a framework for agency budget practices that can guide an agency toward incorporating performance information into the budget process.
Federal grants will total about $85 billion in fiscal year (FY) 1979. The government relies on audit as the basic control to see that these funds are spent as Congress intended and to prevent unauthorized expenditures and loss of funds from fraud and abuse.