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Search Tags: financial management
Gary Engel, GAO's director of financial management, says the Treasury Department's Office of Financial Stability, which implements TARP, still needs to establish a mechanism for effective implementation of its review and approval process for preparing its financial statements.
The federal government could save $4.4 billion over the next three decades by phasing out the $1 bill with a $1 coin, according to a new Government Accountability Office report. But the cost estimates for the first 10 years actually spell a loss for the government to the tune of $531 million.
Danny Werfel, controller at the Office of Management and Budget, spoke to The Federal Drive with Tom Temin from the Association of Government Accountants National Leadership conference, where he'll deliver a report on federal finance.
The tough federal budget picture is on the minds of lots of people there. Doug Webster, former chief financial officer at the Labor Department and now a partner at CSC, knows how to do that better than most government financial leaders. In 2004, he helped Iraq's new transportation ministry set up and run its billion-dollar budget.
The agency hired CGI Federal to move its application from the Interior Department to the private cloud.
Beryl Davis, the director of financial management and assurance issues at GAO, joined In Depth with Francis Rose to discuss the findings of a recent report detailing how agencies cut improper payments.
The Postal Service said large losses would continue until the agency can trim its workforce, close some facilities, and restructure its healthcare program. The Postal Service posted a total loss of $5.1 billion in fiscal 2011.
Anne Reed, the chairman of the board of ASI Government, joined In Depth with Francis Rose to discuss the 2013 budget request and its impact on technology and financial management.
The Treasury Department and Recovery Accountability and Transparency Board are preparing to expand the use of new software and analytical applications this year. OMB Controller Danny Werfel said agency progress is coming along, but needs help from Congress to make it easier to share information among agencies.
A special House panel finds DoD's audit plan is credible, but successful implementation will depend on commitment of Defense components and future leaders.
Tags: DoD , congress , House Armed Services Committee , management , auditability , CFO , CFO Act , Robert Hale , Mike Conaway , Adam Smith , financial improvement and readiness plan , statement of budgetary resources , Senior Executives Service , workforce , budget , Jared Serbu , DoD Report