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Search Tags: Financial management
Despite the billions spent investing in systems, financial processes are such that when you add up all the layers, it takes something akin to archaeology for a citizen to unearth a specific fact about where and how money was spent, says Federal News Radio host Tom Temin.
The entire military must pass a financial audit by 2017, and the military services have made slow, uneven progress toward that goal. The Pentagon plans to conduct a partial audit of the entire department next year to identify weaknesses and areas in which it should focus its energy.
Rafael Borras spent the last four years as the undersecretary of management for the Homeland Security Department before leaving Feb. 7. He said his goal was to make DHS more business-like by making it easier to apply data to decisions. Under Borras' leadership, DHS launched the Management Cube and received its first-ever clean financial audit opinion.
Host Francis Rose talked to Mark Easton, deputy chief financial officer at the Defense Department, about DoD's efforts to reach auditability.
Members of the military are burdened by credit card debt, loans and mortgages, but they still seem to be handling their finances better than their civilian counterparts, according to a report by the Financial Industry Regulatory Authority (FINRA) Foundation.
For the first time in its history, the Homeland Security Department turned in a clean financial audit. A new DHS inspector general report, however, says the department has "significant deficiencies" in its internal control over financial reporting.
Tags: DHS , financial management , Tom Carper , Bennie Thompson , Senate Homeland and Governmental Affairs Committee , House Homeland Security Committee , inspector general , audit , Michael OConnell , KPMG
A string of recent budget crises, doomsday deadlines and last-minute deals has complicated agencies' longer-term budget planning. However, most agency budget professionals say they're plowing through the uncertainty and will be able to meet spending targets for fiscal 2015 mandated by the Office of Management and Budget, according to a recent survey by Grant Thornton and the American Association for Budget and Program Analysis.
Sen. Chuck Grassley released a report Friday, revealing fudged financial statements from the Defense Finance and Accounting Service and audit misconduct from the Inspector General's office.
In this week's edition of Agency of the Month, SSA Inspector General Patrick O'Carroll explains how his office is helping the agency save millions of dollars.
Some agency leaders who would be charged with implementing the bill are unsure the DATA Act can be brought to life successfully. Officials said the government can improve how it makes data accessible and publishes procurement and other spending information. But the DATA Act may be asking for things that aren't pragmatically possible.
Tags: management , financial management , Dick Gregg , Treasury , Jim Taylor , Labor , Norman Dong , OMB , DATA Act , Rob Portman , Senate Homeland Security and Governmental Affairs Committee , Hudson Hollester , Data Transparency Coalition , Association of Government Accountants , Data Center Consolidation Act , Jason Miller