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Financial Management: Review of the Financial Statement Audit of the White House Commission on the National Moment of Remembrance for Fiscal Year 2005 and Status of GAO Audit Recommendations

Description: Correspondence issued by the Government Accountability Office with an abstract that begins "The White House Commission on the National Moment of Remembrance (Commission) was created on December 28, 2000, by the National Moment of Remembrance Act. The Commission's purpose is to sustain the American spirit through acts of remembrance, not only on Memorial Day but also throughout the year, for those who died serving our country. Congress appropriated $1.25 million to the Commission to fund its operations for fiscal years 2002 through 2005. In fiscal year 2005, the Commission received net appropriations of approximately $248,000, along with cash and in-kind donations of approximately $103,000 from individuals and businesses. In addition, it had approximately $244,000 in unexpended appropriations from prior fiscal years. The Commission expended approximately $239,000 of appropriated funds and funded costs of approximately $103,000 with cash and in-kind donations received during the fiscal year. The National Moment of Remembrance Act requires GAO to annually audit the financial transactions of the Commission. However, as reflected in an Office of Management and Budget (OMB) memorandum, the Commission is subject to the Accountability of Tax Dollars Act of 2002 which was enacted on November 7, 2002. This act requires the Commission to annually prepare and submit audited financial statements to OMB and Congress. This is the first year the Commission has prepared a complete set of financial statements and contracted with an independent public accountant (IPA) to conduct the financial statement audit. In lieu of performing an audit of the Commission's fiscal year 2005 financial transactions, which would duplicate much of the work performed by the IPA, we performed a review of the IPA's audit of the Commission's financial statements. This report provides the results of our review of the Commission's fiscal year 2005 financial statement audit and provides the status of ...
Date: October 26, 2006
Creator: United States. Government Accountability Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Emergency Steel Loan Guarantee Program

Description: Correspondence issued by the General Accounting Office with an abstract that begins "This report discusses the Emergency Steel Loan Program, which provides loan guarantees to qualified steel producing companies. GAO found that there has been only one guaranteed loan disbursed by a private lender for $110 million. With an 85 percent guarantee, the federal government's potential loss is $93.5 million, assuming no repayments and no recovery from property pledged as collateral. The financial condition of program applicants is not strong, and repayments of loans depend upon many future factors. Economic analysis indicates a flat demand for steel, moderate prices, and static imports of foreign steel forecasted for 2002 and 2003. Because of the low loan amount, the program has had a minimal overall effect on the U.S. steel industry through March 2001."
Date: May 25, 2001
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Improper Payments Reported in Fiscal Year 2000 Financial Statements

Description: Correspondence issued by the General Accounting Office with an abstract that begins "This report provides information on improper payments that federal agencies reported in their fiscal year 2000 financial statements. GAO found that the amount of improper payments reported in agency financial statements has remained consistent at about $20 billion for the past three years. Even though these amounts are substantial, agency-specific audits and studies indicate the improper payment problem is much more widespread than disclosed in agency financial statement reports. The President's Management Agenda for Fiscal Year 2002 has made the reduction of improper payments a priority. The Administration has taken steps to require federal agencies to identify erroneous payments and to discuss planned actions to better manage these payments."
Date: November 2, 2001
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Audit of the White House Commission on the National Moment of Remembrance for Fiscal Years 2003 and 2002

Description: Correspondence issued by the General Accounting Office with an abstract that begins "The White House Commission on the National Moment of Remembrance (Commission) was created on December 28, 2000, by the National Moment of Remembrance Act (Act). The Commission received appropriated funds in fiscal years 2003 and 2002. Its purpose is to sustain the American spirit through acts of remembrance for those who died serving their country, not only on Memorial Day, but also throughout the year. We are required by the Act to audit the financial transactions of the Commission, and this report covers our work on its fiscal years 2003 and 2002 financial transactions."
Date: May 20, 2004
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Forest Service's Efforts to Achieve Financial Accountability

Description: Correspondence issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO reviewed the Forest Service's progress in improving the reliability of its accounting and financial data."
Date: February 8, 1999
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Reporting of Army Conventional Ammunition as Operating Materials and Supplies

Description: Correspondence issued by the General Accounting Office with an abstract that begins "The Army's current accounting practices and manual procedures for calculating operating materials and supplies (OM&S) balances caused accounting errors that understated the Army's fiscal year 1999 OM&S balance by at least $1.5 billion. In addition, ammunition held at retail-level installations for training purposes was excluded from the financial reports."
Date: October 24, 2000
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Financial Reporting Issues Related to the Navy's Direct Vendor Delivery Initiative

Description: Correspondence issued by the General Accounting Office with an abstract that begins "GAO provided information on how a Direct Vendor Delivery (DVD) contract would affect the Navy's financial reporting, focusing on: (1) whether accounting and auditing standards would require DVD contractors to report individual transactions through the Transaction Item Reporting (TIR) system; and (2) what level of reporting would be required under a DVD contract to meet accounting and auditing standards."
Date: September 13, 2000
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: FBI Has Designed and Implemented Stronger Internal Controls over Sentinel Contractor Invoice Review and Equipment Purchases, but Additional Actions Are Needed

Description: Correspondence issued by the Government Accountability Office with an abstract that begins "In February 2006, we reported on significant internal control deficiencies related to contractor payments and property accountability associated with the development of the Federal Bureau of Investigation's (FBI) Trilogy information technology (IT) modernization project. In that audit, we found FBI's invoice review and approval process did not provide an adequate basis to verify that goods and services billed were actually received and that amounts billed were appropriate. We also found that FBI relied extensively on Trilogy contractors to purchase and account for Trilogy equipment without controls or data to verify the accuracy and completeness of the contractor records. Additionally, once FBI took possession of the Trilogy equipment, it did not have adequate controls to safeguard those assets. FBI is now acquiring and deploying a new automated case management system, known as Sentinel, to replace the case management system that was to be delivered as part of the Trilogy project. Sentinel is being developed in four phases at an estimated cost of $425 million and is scheduled to be completed in May 2010. Phase 1 of the project was completed in June 2007. In light of the problems we found concerning the predecessor Trilogy project, Congress asked us to review the internal controls over expenditures related to the development and implementation of Sentinel. Specifically, Congress asked us to assess the design and implementation of FBI's internal controls over the Sentinel project for (1) preventing or detecting improper payments to project contractors and (2) maintaining proper accountability for equipment purchased for the project. Further, to the extent weaknesses were found, you asked us to determine whether those weaknesses resulted in improper payments or missing equipment."
Date: July 15, 2008
Creator: United States. Government Accountability Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Bureau of Reclamation Sources and Uses of Funds

Description: Correspondence issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO reviewed the Bureau of Reclamation's sources and uses of funds at federal water projects, focusing on: (1) the Bureau's legal authorities and policies and procedures for obtaining, using, and accounting for funds, the types and amounts of funding obtained, and how funds were spent; (2) controls that were established to ensure that funds are properly obtained, used, and accounted for; (3) operations and maintenance (O&M) activities, expenses, and policies and procedures; and (4) other issues, such as the repayment of O&M and construction costs at the Central Valley Project (CVP)."
Date: May 26, 1999
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: DOD's Ability to Prevent, Identify, Investigate, and Report on Antideficiency Act Violations

Description: Correspondence issued by the Government Accountability Office with an abstract that begins "This report formally transmits a briefing in response to Senate Report No.110-77, which accompanied the National Defense Authorization Act for Fiscal Year 2008. The Senate Report directed GAO to review the department's efforts to prevent, identify, investigate, and report Antideficiency Act (ADA) violations and disciplinary actions taken when violations occur. On July 22, 2008, we provided our preliminary observations to staff of Congressional committees in response to the mandate. We will be reporting details on the information presented in the briefing in a future report."
Date: July 28, 2008
Creator: United States. Government Accountability Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Improper Payments Reported in Fiscal Year 1999 Financial Statements

Description: Correspondence issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO provided information on the extent of improper payment estimates reported in agencies' during fiscal year (FY) 1999 financial statements."
Date: July 27, 2000
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Audit of the Senate Gift Shop Revolving Fund for Fiscal Year 2010

Description: Correspondence issued by the Government Accountability Office with an abstract that begins "In a letter dated July 22, 2010, Congress requested that we conduct an audit of the Senate Gift Shop's cash receipts and cash disbursements recorded in the Senate Gift Shop Revolving Fund for the fiscal year ended September 30, 2010. In the letter, Congress also requested that we review the inventory accounting procedures of the Gift Shop. The Senate Gift Shop was established on October 6, 1992, to sell gift items to members of the Senate, Senate staff, and the general public. All sales receipts are taken to the Senate Disbursing Office for deposit into the Senate Gift Shop Revolving Fund in the U.S. Treasury. The Gift Shop then uses the cash receipts to purchase inventory items for resale, supplies, shipping, and other related services expenses. The Senate Disbursing Office maintains the money and makes payments on behalf of the Senate Gift Shop Revolving Fund. Salaries and benefits of Senate employees who work in the Gift Shop are not paid from the revolving fund; rather, they are paid from the "Salaries, Officers, and Employees" appropriation account of the Senate. Additional costs of the Gift Shop such as rent and utilities cannot be readily determined and are covered by other appropriated Senate funds."
Date: April 6, 2011
Creator: United States. Government Accountability Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Implications of Significant Recent and Potential Changes for the Actuarial Soundness of the Department of Defense Survivor Benefit Plan Program

Description: Correspondence issued by the Government Accountability Office with an abstract that begins "This report responds to a legislative mandate to report on the effects of certain program changes on the actuarial soundness of the Survivor Benefit Plan (SBP) program, which is part of the Department of Defense's (DOD) Military Retirement Fund (Fund). The primary purpose of the SBP is to provide benefits to the surviving dependents of deceased members or retirees of the armed forces. In certain cases, individuals other than dependents can be designated recipients of survivor benefits. The Fund accumulates financing resources in order to fund, on an actuarially sound basis, the liabilities of the military retirement and SBP programs. The SBP was created by legislation enacted on September 21, 1972, and has been modified various times by subsequent legislation. The fiscal year 2006 National Defense Authorization Act requires that we report to Congress on (1) the effect of recent significant SBP program changes on the actuarial soundness of the program, (2) the effect of these significant SBP program changes by the various categories of participants and in total on (a) DOD normal cost payments for the program and (b) Department of the Treasury (Treasury) payments to amortize the unfunded liability amounts, (3) the potential effects to Treasury and DOD payments that would result from the following two legislative changes: (a) the enactment of a law permitting participants in the program to designate an insurable interest if a previously designated beneficiary dies and (b) the enactment of a law repealing the Dependency and Indemnity Compensation (DIC) offset (10 U.S.C. 1450(c), 1451(c)(2)) for beneficiaries, and (4) the effect that each of the two potential legislative changes would have on the actuarial soundness of the SBP."
Date: July 26, 2006
Creator: United States. Government Accountability Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Further Actions Are Needed to Establish Framework to Guide Audit Opinion and Business Management Improvement Efforts at DOD

Description: Correspondence issued by the Government Accountability Office with an abstract that begins "As the Comptroller General recently testified and as discussed in our latest financial audit report, the Department of Defense's (DOD) financial management deficiencies, taken together, continue to represent the single largest obstacle to achieving an unqualified opinion on the U.S. government's consolidated financial statements. For example, to date, none of the military services has passed the test of an independent financial audit because of pervasive weaknesses in internal control, processes, and fundamentally flawed business systems. Problems with the department's financial management operations go far beyond its accounting and finance processes and systems. The department continues to rely on a reported 4,000 or more fundamentally flawed finance, logistics, personnel, acquisition, and other management information systems to gather the data needed to support day-to-day management decision making and reporting. These systems were not designed to be, but rather evolved into the overly complex and error-prone operation--vulnerable to fraud, waste, and abuse--that exists today. Further, inefficiencies in DOD's current business operations, such as (1) little standardization across DOD components, (2) multiple systems performing the same tasks, (3) the same data stored in multiple systems, (4) manual entry of the same data into multiple systems, and (5) a large number of data transactions, combine to exacerbate problems with data integrity. This report answers the following questions: (1) Does DOD have a comprehensive, integrated plan for obtaining an unqualified audit opinion on the department's fiscal year 2007 consolidated financial statements? (2) Has the DOD Comptroller established effective processes and procedures for monitoring the implementation of the plan(s) to increase the likelihood of sustainable progress and to ensure that component auditability assertions are supported? (3) Has DOD established a clear link between DOD component improvement efforts and the department's BMMP?"
Date: September 20, 2004
Creator: United States. Government Accountability Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Audit of the Centennial of Flight Commission

Description: Correspondence issued by the General Accounting Office with an abstract that begins "The Centennial of Flight Commission was created in 1998 to provide recommendations and advice to the President, Congress, and federal agencies on ways to encourage and promote national and international participation and sponsorships in commemoration of the centennial of powered flight. All 45 of the Commission's recorded financial transactions for fiscal years 2000 and 1999 were supported by documentation that was approved by management. The Commission recorded no donations, user fees, or in-kind donations for fiscal years 1999 and 2000. Also, the Commission's obligations exceeded its fiscal year 2000 appropriation of $600,000 by $29,729."
Date: October 22, 2001
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: State and Federal Governments Are Not Taking Action to Collect Unpaid Debt through Reciprocal Agreements

Description: Correspondence issued by the Government Accountability Office with an abstract that begins "The Debt Collection Improvement Act of 1996 (DCIA) allows the federal government to collect state debts from federal payments to contractors. However, before a state can participate in this program, DCIA requires that the state enter into a reciprocal agreement with the Department of the Treasury that would require the state to collect unpaid federal debt from state payments if Treasury collects unpaid state debt from federal payments. In February 2004, we reported that Department of Defense (DOD) and Internal Revenue Service (IRS) records showed that over 27,000 DOD contractors had nearly $3 billion in unpaid federal taxes as of September 30, 2002. In a hearing before the Senate Permanent Subcommittee on Investigations on February 12, 2004, we noted that many of those contractors also had unpaid state taxes. Based on the issues raised in that hearing, Congress requested that we determine (1) the extent to which Financial Management Service (FMS) and the states have entered into reciprocal agreements to collect unpaid state and federal debt from their payments to contractors and (2) whether additional opportunities may exist for the Department of the Treasury's FMS to collect unpaid state taxes from federal contractors. This report responds to that request by providing information on (1) the extent of states' participation in FMS's debt collection levy and offset programs, (2) the potential benefits to states of participation in those programs, and (3) the level of state participation in, and the benefits states derive from, the collection of state tax debt from federal income tax refunds."
Date: July 26, 2005
Creator: United States. Government Accountability Office.
Partner: UNT Libraries Government Documents Department

Financial Management: DOD Needs to Clarify Its General Gift Fund Policies to Provide for Effective Oversight

Description: Correspondence issued by the Government Accountability Office with an abstract that begins "From fiscal year 2005 through fiscal year 2008, the military services received about $295 million in monetary and nonmonetary gifts from individuals and organizations wishing to donate gifts to the Department of Defense (DOD). Section 2601(a) of Title 10, U.S. Code is a long-standing authority under which the secretaries overseeing DOD, the military services, and the Coast Guard may accept a gift on the condition that the gift be used for the benefit of or in connection with the establishment, operation, or maintenance of schools, hospitals, libraries, museums, cemeteries, or other institutions or organizations under the jurisdiction of the secretary concerned. In 2008, gifts to benefit such institutions or organizations included a monetary gift to construct an education center and nonmonetary gifts of a bronze statue and granite benches. In 2006, Congress enacted additional authority, under 10 U.S.C. 2601(b) to allow the acceptance of gifts and services to benefit certain members of the armed forces and civilian employees of DOD who incurred a wound, injury, or illness in the line of duty and to benefit the dependents and survivors of those who are killed or wounded. For example, an Army official stated that the Army had recently accepted Internet services for wounded servicemembers who are recovering in a military hospital. Under 10 U.S.C. 2601, DOD and the military services are bound by certain limitations on both the acceptance and appropriate use of gifts accepted into the general gift funds--individual accounts established within the Department of the Treasury into which proceeds from monetary and nonmonetary gifts are deposited. In addition, DOD and the military services have established rules that are intended, among other things, to ensure that monetary and nonmonetary gifts that are accepted into these funds do not ...
Date: May 27, 2009
Creator: United States. Government Accountability Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Audit of the Senate Stationery Room Revolving Fund for Fiscal Year 2010

Description: Correspondence issued by the Government Accountability Office with an abstract that begins "In a letter dated July 22, 2010, Congress requested that we conduct an audit of the Senate Stationery Room's cash receipts and cash disbursements recorded in the Senate Stationery Room Revolving Fund for the fiscal year ended September 30, 2010. In the letter, Congress also requested that we review the inventory accounting procedures of the Stationery Room. The Senate Stationery Room provides for the sale of stationery to members of the Senate, Senate offices, and other Senate committees and authorized organizations. This includes the sale of office and administrative supplies, personalized stationery, flags, and special order items such as business cards. All sales receipts are taken to the Senate Disbursing Office for deposit into the Senate Stationery Room Revolving Fund in the U.S. Treasury. The Stationery Room then uses the cash receipts to purchase inventory items and emergency supplies for resale, and to pay for other services expenses. The Senate Disbursing Office maintains the money and makes payments on behalf of the Senate Stationery Room Revolving Fund. Salaries and benefits of Senate employees who work in the Stationery Room are not paid from the revolving fund; rather, they are paid from the "Salaries, Officers, and Employees" appropriation account of the Senate. Additional costs of the Stationery Room such as rent and utilities cannot be readily determined and are covered by other appropriated Senate funds."
Date: April 6, 2011
Creator: United States. Government Accountability Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Navy's Implementation of the Defense Property Accountability System

Description: Correspondence issued by the General Accounting Office with an abstract that begins "As part of its involvement with the Navy Personal Property Working Group, GAO reviewed the Department of the Navy's implementation of the Defense Property Accountability System (DPAS). As requested by the working group, GAO visited six Navy activities to evaluate DPAS implementation at those selected locations. GAO found that (1) physical wall-to-wall inventories of personal property were not being done properly; (2) personal property items were not being included in DPAS at a component level to ensure accountability; and (3) policies, procedures, and training were not in place to ensure the sustainability of the property database."
Date: December 13, 2000
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Audit of the Centennial of Flight Commission for Fiscal Year 2003 and though May 19, 2004

Description: Correspondence issued by the General Accounting Office with an abstract that begins "The Centennial of Flight Commission (Commission) was created on November 13, 1998, by the Centennial of Flight Commemoration Act (Public Law 105-389, as amended by Public Law 106-68). The purpose of the Commission is to commemorate the 100th anniversary of the Wright brothers' flight at Kitty Hawk, North Carolina, on December 17, 1903. The Commission is to provide recommendations and advice to the President, the Congress, and federal agencies on the most effective ways to encourage and promote national and international participation and sponsorships in commemoration of the centennial of powered flight. We are required by the act to audit the financial transactions of the Commission. This report presents the results of our audit of the Commission's financial transactions for fiscal year 2003 and through May 19, 2004, with cumulative information since the Commission's inception. We previously reported the results of our audits on Commission financial transactions for fiscal years 1999 and 2000, 2001, and 2002. This will be our final audit of the Commission because, in accordance with Public Law 105-389, the Commission must issue its final report to the President and the Congress no later than June 30, 2004, after which it has 60 days to terminate its operations. The Commission issued its final report on April 20, 2004, and terminated its operations by June 1, 2004."
Date: June 18, 2004
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Audit of the White House Commission on the National Moment of Remembrance for Fiscal Year 2004

Description: Correspondence issued by the Government Accountability Office with an abstract that begins "The White House Commission on the National Moment of Remembrance (Commission) was created on December 28, 2000, by the National Moment of Remembrance Act (act). The Commission's purpose is to sustain the American spirit through acts of remembrance, not only on Memorial Day but also throughout the year, for those who died serving our country. Congress appropriated $1 million to the Commission to fund its operations for fiscal years 2002 through 2004. In fiscal year 2004, the Commission received net appropriations of approximately $249,000, along with cash and in-kind donations of approximately $102,000 from individuals and businesses. In addition, it had approximately $240,000 in unexpended appropriations from prior fiscal years. The Commission expended approximately $257,000 of appropriated funds and funded costs of approximately $102,000 with cash and in-kind donations received during the fiscal year. The act requires us to audit the financial transactions of the Commission, and this report covers our work on its fiscal year 2004 financial transactions."
Date: July 21, 2005
Creator: United States. Government Accountability Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Audit of the Centennial of Flight Commission for FY 2001

Description: Correspondence issued by the General Accounting Office with an abstract that begins "The Centennial of Flight Commission was created in November to commemorate the 100th anniversary of the Wright brothers' flight at Kitty Hawk, North Carolina, in 1903. The Commission is to provide recommendations and advice to the President, Congress, and federal agencies on the most effective ways to encourage and promote national and international participation and sponsorships in commemoration of the centennial of powered flight. All 156 of the Commission's recorded obligations and expenditures during fiscal year 2001 were supported by documentation that was approved by management. The Commission recorded no donations, user fees, or in-kind donations for fiscal year 2001. The Commission's financial records for fiscal year 2001 contained some minor errors that went unnoticed due to a lack of complete records being maintained by the Commission, as well as the Federal Aviation Administration and the National Aeronautics and Space Administration which provide administrative support to the Commission."
Date: June 21, 2002
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Audit of the Centennial of Flight Commission for Fiscal Year 2002

Description: Correspondence issued by the General Accounting Office with an abstract that begins "The Centennial of Flight Commission (Commission) was created on November 13, 1998, by the Centennial of Flight Commemoration Act (Public Law 105-389, as amended by Public Law 106-68). The purpose of the Commission is to commemorate the 100th anniversary of the Wright Brothers' flight at Kitty Hawk, North Carolina, on December 17, 1903. The Commission is to provide recommendations and advice to the President, the Congress, and federal agencies on the most effective ways to encourage and promote national and international participation and sponsorships in commemoration of the centennial of powered flight. We are required by the act to audit the financial transactions of the Commission. This report presents the results of our audit of the Commission's fiscal year 2002 financial transactions, with cumulative information since the Commission's inception. We previously reported the results of our audits on Commission financial transactions for fiscal years 1999 and 2000, and 2001."
Date: July 31, 2003
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department

Financial Management: Information on Agencies' Fiscal Years 1997 and 1998 FFMIA Remediation Plans

Description: Correspondence issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO provided information on agencies' fiscal years 1997 and 1998 Federal Financial Management Improvement Act (FFMIA) remediation plans."
Date: January 27, 2000
Creator: United States. General Accounting Office.
Partner: UNT Libraries Government Documents Department