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8:31 pm, July 9, 2014

Treasury Department News

How budget showdowns could squeeze the US economy

Here we go again: What impact will Washington's budget fights have on the US economy?

Monday - 09/30/2013, 05:28pm EDT

Treasury overhauling qualifications for financial shared services providers

Treasury's Office of Financial Innovation Transformation (OFIT) issued a draft set of requirements that agencies must meet if they want to be federal shared services providers. The requirements should be finalized this fall, and a new set of providers will be in place in the coming months.

Thursday - 09/26/2013, 06:07am EDT
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US borrowing authority to be exhausted by Oct. 17

US borrowing authority to be exhausted by Oct. 17, Treasury says

Thursday - 09/26/2013, 04:10am EDT

OMB gives agencies more control over financial management systems

The White House updates Circular A-123 to include a new appendix to address federal financial management systems. OMB expects the new regulations to let agencies focus on a smaller-scale, risk-based approach to improving financial systems.

Monday - 09/23/2013, 02:30pm EDT

White House proposes new rules on employer mandate

The Obama administration on Thursday released new proposals for carrying out a major requirement of the federal health care law that was postponed earlier this summer.

Thursday - 09/05/2013, 06:30pm EDT

Treasury says US will hit debt limit in mid-Oct

Treasury secretary says US will hit debt limit in mid-Oct, urges Congress to raise it

Tuesday - 08/27/2013, 09:00pm EDT

Treasury's Lew: Congress needs to pass debt limit

Treasury Secretary Lew says Congress needs to do its job, raise debt limit, halt brinksmanship

Monday - 07/29/2013, 05:06pm EDT

VA, OPM implement promising practices for next generation of SESers

A new report by the Partnership for Public Service and McKinsey and Company found inconsistencies among agencies in how they recruit and develop their Senior Executive Service members. That lack of standardized leadership development is causing some to question whether senior executives will be prepared to replace long-time managers who are retiring at a fast rate.

Wednesday - 07/24/2013, 05:45am EDT
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GSA, Treasury officials decry House committee budget shortfalls

Top officials at the Treasury Department and the General Services Administration say budget cuts being considered by House lawmakers - and that have since adopted by the House Appropriations Committee - would erode their agencies' missions. In sharply divided vote mostly along partisan lines Wednesday, the committee approved the fiscal 2014 Financial Services and General Government appropriations bill.

Thursday - 07/18/2013, 06:25pm EDT

HUD buying into shared services; renewed push to merge DoD's CIO

In his Inside the Reporter's Notebook feature, Executive Editor Jason Miller shares news and buzz in the acquisition and IT communities that you may have missed this week.

Monday - 06/24/2013, 05:29am EDT
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Treasury unveils Lew's improved signature

The Treasury Department unveiled Secretary Jacob Lew's new signature on Tuesday. It takes the Bureau of Engraving and Printing about 18 weeks to put new engraving plates into production. That means Lew's signature will not show up on the various currency denominations until sometime this fall.

Wednesday - 06/19/2013, 08:24am EDT

New data could be difference-maker for move to shared services

OMB and Treasury have been working with the four federal financial management shared services providers to collect information on cost and performance. OMB Deputy Controller Norman Dong said the data will help agencies make true comparisons of the providers.

Friday - 06/07/2013, 05:26am EDT
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New IRS head says taxpayers no longer trust agency

New IRS head says he is committed to restoring 'broken' trust in agency after tea party storm

Tuesday - 06/04/2013, 03:24am EDT

IRS replaces official in tea party controversy

IRS replaces official who supervised agents involved in targeting tea party groups

Friday - 05/24/2013, 03:50am EDT

OMB reworking financial system requirements to focus on outcomes, not inputs

The administration is expected to release a new directive in the coming weeks to update Circular A-127, which defines how agencies operate their financial systems. The new guidance is expected to open the market up to vendors and make it easier for agencies to transition to shared service providers.

Tuesday - 05/21/2013, 05:27am EDT
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Retirement funds temporarily tapped to avoid debt limit default

In order to avoid defaulting on the national debt, Treasury Secretary Jacob Lew said late Monday he will begin tapping into two government employee retirement funds to buy more time.

Tuesday - 05/21/2013, 04:10am EDT

More Obama aides knew of IRS audit; Obama not told

White House chief of staff Denis McDonough and other senior advisers knew in late April that an impending report was likely to say the IRS had inappropriately targeted conservative groups.

Tuesday - 05/21/2013, 03:40am EDT

Do Not Pay list lacks data as implementation nears

Senate lawmakers are promising to change the laws to let agencies have easier access to the Death Master File and other key databases. Starting June 1, agencies must check the Do Not Pay list before issuing any money.

Thursday - 05/09/2013, 05:49am EDT
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Treasury secretary working on penmanship

Treasury Secretary Jacob Lew's loopy signature is showing signs of improvement as he gets ready to affix his "Jacob Lew" to the nation's currency.

Wednesday - 05/08/2013, 12:13am EDT

Sequestration: the new heartburn and Alka-Seltzer combo

The threat of furloughs is hanging heavy over tens of thousands of federal workers who say they won't be able to pay the bills if forced to stay home for five to 15 days. So, Mike Causey wants to know, is there light at the end of this tunnel?

Monday - 05/06/2013, 02:00am EDT
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