Financial Management: Financial Management Weaknesses at the Department of Education

Financial Management: Financial Management Weaknesses at the Department of Education

Date: December 6, 1999
Creator: United States. General Accounting Office.
Description: Testimony issued by the General Accounting Office with an abstract that begins "GAO discussed its review of the independent auditors' reports on the Department of Education's financial statements covering fiscal year (FY) 1998, focusing on: (1) weaknesses in the financial reporting process; (2) inadequate reconciliations of financial accounting records; and (3) inadequate controls over information systems."
Contributing Partner: UNT Libraries Government Documents Department
Major Management Challenges and Program Risks: Department of Education

Major Management Challenges and Program Risks: Department of Education

Date: January 1, 1999
Creator: United States. General Accounting Office.
Description: Other written product issued by the General Accounting Office with an abstract that begins "As part of its Performance and Accountability Series, GAO provided information on the major management challenges and program risks facing the Department of Education."
Contributing Partner: UNT Libraries Government Documents Department
Major Management Challenges and Program Risks: Department of Education

Major Management Challenges and Program Risks: Department of Education

Date: January 1, 2001
Creator: United States. General Accounting Office.
Description: A letter report issued by the General Accounting Office with an abstract that begins "This report, part of GAO's performance and accountability series, discusses the major management challenges and program risks facing the Department of Education. These challenges include (1) ensuring access to postsecondary education, (2) encouraging states to improve performance information, (3) promoting coordination with other federal agencies and school districts, and (4) improving financial management."
Contributing Partner: UNT Libraries Government Documents Department
Department of Education: Guaranteed Student Loan Program Vulnerabilities

Department of Education: Guaranteed Student Loan Program Vulnerabilities

Date: November 21, 2002
Creator: United States. General Accounting Office.
Description: Correspondence issued by the General Accounting Office with an abstract that begins "Congress requested that GAO investigate weaknesses in the Department of Education's administration of student loans for postsecondary education under the Federal Family Education Loan (FFEL) Program. As a result of the undercover investigation, GAO exposed vulnerabilities in the administration of the FFEL Program. GAO set up a fictitious school and sought and obtained approval for student loans totaling $55,500 on behalf of three fictitious students purportedly attending the school."
Contributing Partner: UNT Libraries Government Documents Department
The Department of Education's Compliance with the Inflation Adjustment Act

The Department of Education's Compliance with the Inflation Adjustment Act

Date: August 26, 2002
Creator: United States. General Accounting Office.
Description: Correspondence issued by the General Accounting Office with an abstract that begins "Earlier this year, GAO initiated a governmentwide review of the implementation of the Federal Civil Penalties Inflation Adjustment Act of 1990. The Inflation Adjustment Act requires each federal agency to issue a regulation adjusting its covered maximum and minimum civil monetary penalties for inflation by October 23, 1996, and requires them to make necessary adjustments at least once every 4 years thereafter. During the review, the Department of Education's Office of the General Counsel indicated that at least eight of the agency's civil penalties are covered by that act, but the agency had not yet adjusted any of them for inflation."
Contributing Partner: UNT Libraries Government Documents Department
Major Management Challenges and Program Risks: Department of Education

Major Management Challenges and Program Risks: Department of Education

Date: January 1, 2003
Creator: United States. General Accounting Office.
Description: A letter report issued by the General Accounting Office with an abstract that begins "In its 2001 performance and accountability report on the Department of Education, GAO identified challenges with student financial aid programs, financial management, and other areas facing Education. The information GAO presents in this report is intended to help sustain congressional attention and a departmental focus on continuing to make progress in addressing and overcoming these challenges and new challenges that have arisen due to legislative changes since 2001. This report is part of a special series of reports on governmentwide and agency-specific issues."
Contributing Partner: UNT Libraries Government Documents Department
Status of the Department of Education's Inventory of Its Data Collections

Status of the Department of Education's Inventory of Its Data Collections

Date: June 28, 2013
Creator: United States. Government Accountability Office.
Description: Correspondence issued by the Government Accountability Office with an abstract that begins "Education's inventory of its data collections is expected to include descriptive information, referred to as metadata, about the context of each data collection, as well as the specific data elements reported by respondents for each collection. The inventory will contain the department's major data collections and will be ready for public release by November 2013, according to Education officials. The inventory is to eventually include all statistical and grant administration collections that meet Education's definition of a data collection."
Contributing Partner: UNT Libraries Government Documents Department
Department of Education: Key Aspects of the Federal Direct Loan Program's Cost Estimates

Department of Education: Key Aspects of the Federal Direct Loan Program's Cost Estimates

Date: January 12, 2001
Creator: United States. General Accounting Office.
Description: A letter report issued by the General Accounting Office with an abstract that begins "The Department of Education runs two major federal student loan programs, the William D. Ford Federal Direct Loan Program (FDLP) and the Federal Family Education Loan Program (FFELP). Under FDLP, students or their parents borrow money directly from the federal government through the schools the students attend. Under FFELP, money is borrowed from private lenders, and the federal government guarantees repayment if the borrowers default. GAO investigated concerns about Education's reliance on estimates to project FDLP costs and a lack of historical information on which to base those estimates. GAO found that developing a reasonable estimate of subsidy cost for loan programs is complex. Many assumptions must be taken into account and projections must be made for the life of the loans. Because FDLP's subsidy costs are determined largely by interest rates and interest rate fluctuations cannot be predicted with any certainty, it is unclear whether the current trend in negative subsidy costs for FDLP will continue. In addition, other factors, such as origination fees paid by borrowers, defaults, subsequent collections on defaulted loans and timing of loan repayments, affect the subsidy cost of FDLP. Although ...
Contributing Partner: UNT Libraries Government Documents Department
Financial Management: Financial Management Challenges Remain at the Department of Education

Financial Management: Financial Management Challenges Remain at the Department of Education

Date: September 19, 2000
Creator: United States. General Accounting Office.
Description: Testimony issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO discussed financial management at the Department of Education, focusing on: (1) Eduction's current financial management status as evidenced by its fiscal year (FY) 1999 financial audit results and the corrective actions it has taken to resolve weaknesses identified in that audit; and (2) the relationship between the audit findings and the potential for waste, fraud, and abuse."
Contributing Partner: UNT Libraries Government Documents Department
Financial Management: Poor Internal Control Exposes Department of Education to Improper Payments

Financial Management: Poor Internal Control Exposes Department of Education to Improper Payments

Date: July 24, 2001
Creator: United States. General Accounting Office.
Description: Testimony issued by the General Accounting Office with an abstract that begins "GAO and the Department of Education's Office of Inspector General have issued many reports in recent years on the Department's financial management problems, including internal control weaknesses that put the Department at risk for waste, fraud, abuse, and mismanagement. In an April 2001 assessment of the internal control over Education's payment processes and the associated risks for improper payments, GAO identified four broad categories of internal control weaknesses: poor segregation of duties, lack of supervisory review, inadequate audit trails, and inadequate computer systems' applications controls. This testimony discusses how these weaknesses make Education vulnerable to improper payments in grant and loan payments, third party drafts, and government purchase card purchases. GAO found that Education's student aid application processing system for grants and loans lacks an automated edit check that would identify potentially improper payments from students who were much older than expected, a single social security number associated with two or more dates of birth, grants to recipients in excess of statutory limits, and searches for invalid social security numbers. GAO also found problems with Education's third party draft system. Specifically, Education (1) circumvented a system's application control ...
Contributing Partner: UNT Libraries Government Documents Department
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