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Thursday, March 06, 2008

FederalNewsRadio - Ask the CFO - Larry Warder (ED)

Department of Education

Larry Warder - Chief Financial Officer

It may be the Department of Education but from a Financial Management point of view, it might be better described as a bank. Warder says the department essentially encompasses two businesses: grant-making and student aid. On the grant-making side, Warder says the department has turned to technology to implement the necessary performance metrics and internal controls necessitated by initiatives like No Child Left Behind. He also says the department is working with states to on standardizing the way in which critical information, which while not always financial in nature, is collected. Warder also talks about his role as acting head of the department's student loan office at a time when there is increasing scrutiny on the billion-dollar industry.

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