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Monday, October 31, 2005

NASA financial systems under scrutiny | Tech News on ZDNet

The systems can't perform crucial tasks needed to improve management of contracts, provide credible cost estimates for programs, and create auditable statements, according to the report.

"The lack of reliable, day-to-day information continues to threaten NASA's ability to manage its programs, oversee its contractors, and effectively allocate its budget across its numerous projects and programs," government auditors wrote.

That also means that NASA isn't complying "substantially" with the Federal Financial Management Improvement Act of 1996, which requires "timely, accurate and useful" reporting of the costs associated with federal agency work, the report said.

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