Information Technology: SBA Needs to Strengthen Oversight of Its Loan Management and Accounting System Modernization

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Testimony issued by the Government Accountability Office with an abstract that begins "This testimony discusses the Small Business Administration’s (SBA) efforts to modernize its Loan Management and Accounting System (LMAS). As discussed in our report, SBA had completed one of the seven LMAS-Incremental Improvement Projects (IIPs) and awarded contracts for work on three others as of October 2011. However, the projects have experienced increasing costs and schedule delays. However, the projects have experienced increasing costs and schedule delays. Specifically, according to the most recent project schedule, dated August 2011, SBA completed one project in May 2011, 2 months later than ... continued below

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United States. Government Accountability Office. February 8, 2012.

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Testimony issued by the Government Accountability Office with an abstract that begins "This testimony discusses the Small Business Administration’s (SBA) efforts to modernize its Loan Management and Accounting System (LMAS). As discussed in our report, SBA had completed one of the seven LMAS-Incremental Improvement Projects (IIPs) and awarded contracts for work on three others as of October 2011. However, the projects have experienced increasing costs and schedule delays. However, the projects have experienced increasing costs and schedule delays. Specifically, according to the most recent project schedule, dated August 2011, SBA completed one project in May 2011, 2 months later than planned and expects five of the remaining six projects to finish between 4 and 11 months later than the dates reported to Congress in October 2010. Further, according to the agency’s most recent report to Congress, dated March 2011, the total projected cost of the projects increased approximately $5 million since October 2010 and the costs of individual projects had risen between approximately 3 and 53 percent. SBA plans to complete the seven IIPs at a total cost of approximately $28 million by July 2013. Our report also raises concerns about SBA’s inconsistent implementation of key management practices."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • February 8, 2012

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  • June 12, 2014, 7:50 p.m.

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United States. Government Accountability Office. Information Technology: SBA Needs to Strengthen Oversight of Its Loan Management and Accounting System Modernization, text, February 8, 2012; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc298434/: accessed December 14, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.