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Thursday, September 27, 2007

FederalNewsRadio - Ask the CFO - Mark Carney (CFTC)

Commodity Futures Trading Commission (CFTC)

Mark Carney - Chief Financial Officer

The commodities futures market impacts what you pay for a loaf of bread, how much you pay at the pump and even the interest on your kid's college loan. And the number of contracts traded on the market has essentially tripled since 1976. Only, the CFTC's budget allows for fewer full-time employees now than it did then. As a result, Carney says his office has been taking a close look at where the agency's money is spent and whether the results justify the expenditures. The CFTC has also moved to a new financial management system, part of a process that helped it become one of eleven agencies to win the 2007 Certificate of Excellence in Accountability Reporting (CEAR) from the Association of Government Accountants.

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