FedCFO Search Engine

@FedCFO Twitter Feed

Thursday, April 30, 2009

Recent GAO Publications

The Government Accountability Office (GAO) recently released the following reports, testimony, and correspondence:

Fiscal Year 2010 Budget Request: U.S. Government Accountability Office, by Gene L. Dodaro, acting comptroller general, before the Subcommittee on the Legislative Branch, House Committee on Appropriations.
GAO-09-587T, April 28.

Nation's Long-Term Fiscal Outlook: March 2009 Update.
GAO-09-405SP, April 30.

VA Health Care: Challenges in Budget Formulation and Issues Surrounding the Proposal for Advance Appropriations, by Susan Irving, director, strategic issues, and Randall Williamson, director, health care, before the House Committee on Veterans' Affairs.
GAO-09-664T, April 29.
Highlights - http://www.gao.gov/highlights/d09664thigh.pdf

Recovery Act: Initial Results on States' Use of and Accountability for Transportation Activities, by Katherine Siggerud, managing director, physical infrastructure, before the House Committee on Transportation and Infrastructure.
GAO-09-597T, April 29.
Highlights - http://www.gao.gov/highlights/d09597thigh.pdf

Recovery Act: Consistent Policies Needed to Ensure Equal Consideration of Grant Applications.
GAO-09-590R, April 29.

Improper Payments: Progress Made but Challenges Remain in Estimating and Reducing Improper Payments, by Kay L. Daly, director, financial management and assurance, before the Subcommittee on Federal Financial Management, Government Information, Federal Services, and International Security, Senate Committee on Homeland Security and Governmental Affairs.
GAO-09-628T, April 22.
Highlights - http://www.gao.gov/highlights/d09628thigh.pdf

Recovery Act: As Initial Implementation Unfolds in States and Localities, Continued Attention to Accountability Issues Is Essential.
GAO-09-580, April 23.
Highlights - http://www.gao.gov/highlights/d09580high.pdf

Financial Audit: Material Weaknesses in Internal Control Continue to Impact Preparation of the Consolidated Financial Statements of the U.S. Government.
GAO-09-387, April 21.
Highlights - http://www.gao.gov/highlights/d09387high.pdf

Small Business Administration's Implementation of Administrative Provisions in the American Recovery and Reinvesment Act.
GAO-09-507R, April 16

Wednesday, April 29, 2009

Recent Contract Awards

Recent awards around financial system modernizations heard on the street:

EPA Financial System Modernization Program (FSMP) Program Management Office - Multiple Award BPA to Grant Thornton, LLP; Booz Allen Hamilton; Alon, and Savantage

HHS PSC Unified Financial Management System (UFMS) Enterprise Operations & Maintenance Core Services - Single Award to Deloitte

VA Financial and Logistics Integrated Technology Enterprise (FLITE) Program Management Office Support (PMOS) - Single Award to Booz Allen Hamilton

VA Financial and Logistics Integrated Technology Enterprise (FLITE) Strategic Asset Management System (SAM) - Single Award to General Dynamics

Monday, April 27, 2009

GASB Issues Statement No. 56

The Governmental Accounting Standards Board (GASB) has issued Statement No. 56, Codification of Accounting and Financial Reporting Guidance Contained in the AICPA Statements on Auditing Standards, which incorporates accounting and financial reporting guidance previously contained in the AICPA auditing literature into the GASB's accounting and financial reporting literature for state and local governments. The Statement addresses related party transactions, going concern considerations, and subsequent events. More information is available through the GASB's website at www.gasb.org.

Lawmaker Proposes Funding for States to Oversee Stimulus

The chairman of the House Oversight and Government Reform Committee has announced that he will sponsor a bill to provide funding for state auditors who are struggling to keep pace with the demands of the 2009 American Recovery and Reinvestment Act. "With individual states receiving billions in stimulus funding, it makes sense that the states also be fully equipped to closely monitor those taxpayer dollars," said Democratic Rep. Edolphus Towns at a committee field hearing last week. "Not initially providing funds for state auditors under the Recovery Act was an omission that should be rectified as soon as possible." In an interview with Government Executive after the hearing, Towns said the new state money would be separate from the $787 billion economic stimulus package, but an exact amount has yet to be determined. The new funds, he said, could not be used to beef up other areas of the state workforce.

The Recovery Act provided nearly $210 million for inspectors general at federal agencies, $84 million for the Recovery Act Accountability and Transparency Board and $25 million for the Government Accountability Office. The law did not allocate any money for comparable oversight at the state level.

--Robert Brodsky, Government Executive.

Read more.

Tuesday, April 21, 2009

Performance Reporting and the Obama Administration

Join AGA Executive Director, Relmond Van Daniker, DBA, CPA, and WFED's Jane Norris as they interview Nancy Killefer, Senior Director, Washington, D.C. Office, McKinsey & Company, Inc. and Bernice Steinhardt, Director, Governmentwide Management Issues, Strategic Issues, Government Accountability Office about performance management strategies for the Obama administration.

Tune in to WFED AM 1500 at noon today (Tuesday, April 21) or if you are outside of the Washington, D.C. area, visit the WFED website at http://www.federalnewsradio.com/index.php?nid=79&sid=1649230 and click the red 'listen now' button.

Friday, April 17, 2009

Monday, April 13, 2009

Today's GAO Publication

The Government Accountability Office (GAO) today released the following publication:

United States Government Accountability Office Fiscal Year 2010 Performance Plan.
GAO-09-304SP, April 13

AGA Partnership Releases Comparison of Single Audit Act and Improper Payments Information Act

A paper just approved by AGA's Partnership for Intergovernmental Management and Accountability (Partnership) helps bridge the knowledge gap between management and auditors. The paper compares the Single Audit Act Amendments of 1996 (SAA) and the Improper Payments Information Act of 2002 (IPIA) from a number of perspectives, including: area of coverage; scope; extent of testing; reporting of results; basis of testing; the treatment of overpayments and underpayments; time frames and the rotation of program testing. The paper was completed by a special work group created by the Partnership. The Leveraging the Single Audit/Strategies for Reducing Improper Payments Work Group was created by the Partnership under its charge from AGA's National Executive Committee to open the lines of communication among governments. Chaired by George Strudgeon of the Virginia Office of Public Accounts, the work group is comprised of financial professionals from the federal, state and local levels of government. The report is available online.

Keeping Tabs on the Stimulus Plan's Billions

Gene L. Dodaro, CGFM, acting comptroller general of the United States, discussed the Government Accountability Office's (GAO) oversight role related to the massive economic stimulus package at an AGA event last Wednesday morning. AGA sponsored the breakfast meeting, at the Willard Hotel in Washington, D.C., to hear Dodaro's insights into how GAO is promoting accountability and transparency in the American Recovery and Reinvestment Act.

Friday, April 10, 2009

Recent GAO Publications

The Government Accountability Office (GAO) recently released the following publications:

Single Audit: Opportunities Exist to Improve the Single Audit Process and Oversight.
GAO-09-307R, March 13

Presentations By The Acting Comptroller General

"Key Fiscal Challenges Facing the Accountability Community," by Gene L. Dodaro, acting comptroller general of the United States, before the 2009 AGA Southeast Region Professional Development Conference, in Nashville, Tennessee.
GAO-09-505CG, April 2, 2009

"GAO: Promoting Accountability and Transparency in Government," by Gene L. Dodaro, acting comptroller general of the United States, before the Women's Philanthropy Board 7th Annual Spring Symposium, Auburn University, in Auburn, Alabama.
GAO-09-572CG, April 6, 2009

Tuesday, April 07, 2009

Stocking Federal Government Financial Management Positions

Steve Isakowitz, Chief Financial Officer, U.S. Department of Energy
Max Stier, President and CEO, Partnership for Public Service

Join AGA today at noon EDT (April 7) on WFED AM 1500 to hear from Max Stier, President and CEO, the Partnership for Public Service and Steve Isakowitz, Chief Financial Officer, U.S. Department of Energy, as they offer advice on hiring and retaining government financial managers. Today, more than ever, talented government financial managers are needed to monitor and to distribute the $787 billion in recovery monies.

Listen Here

Monday, April 06, 2009

OMB Seeks Input on Recovery Act Data Elements

On April 1, 2009, OMB took the significant step of issuing standard data elements that would be used for reporting under the American Recovery and Reinvestment Act of 2009 (Recovery Act). The public has until May 1, 2009 to comment on the data elements, which will be used in the reporting of grants, loans and cooperative agreement spending under Section 1512 of the Recovery Act. The proposed data elements may be accessed online. Comments may be sent via email to mpridgen@omb.eop.gov. AGA asks that its members also submit their comments on the data elements to us at hsims@agacgfm.org, so that AGA can stay apprised of our members' views on the Recovery Act and implementing guidance. Once the standard data elements are approved, each federal agency must require its recipients of grants, cooperative agreements and loans made under the Recovery Act to report the information and data electronically through a central Government wide portal or through an agency information collection process.

AGA is working to help its members stay abreast of the latest Recovery Act developments. Visit AGA's home page and click on the "Keeping Track of the Recovery Act" button at the top of the page, or click here to access up-to-minute information on the Recovery Act.

Today's GAO Publication

The Government Accountability Office (GAO) today released the following CG presentation:
"GAO: Promoting Accountability and Transparency in Government," by Gene L. Dodaro, acting comptroller general of the United States, before the James Harding Executive Speaker Program at Lycoming College, in Williamsport, Pennsylvania.
GAO-09-441CG, March 23, 2009

Thursday, April 02, 2009

Today's GAO Publication

The Government Accountability Office (GAO) today released the following correspondence:

Management Report: Improvements Needed in SEC's Internal Controls and Accounting Procedures.
GAO-09-376R, April 2

Wednesday, April 01, 2009

Recent GAO Publications

The Government Accountability Office (GAO) released the following reports and testimony:


Troubled Asset Relief Program: March 2009 Status of Efforts to Address Transparency and Accountability Issues.
GAO-09-504, March 31.
Highlights - http://www.gao.gov/highlights/d09504high.pdf

Related Product:

Troubled Asset Relief Program: Capital Purchase Program Transactions for the Period October 28, 2008 through March 20, 2009 and Information on Financial Agency Agreements, Contracts, and Blanket Purchase Agreements Awarded as of March 13, 2009 (GAO-09-522SP, March 2009), an E-supplement to GAO-09-504.
GAO-09-522SP, March 31.


Troubled Asset Relief Program: Status of Efforts to Address Transparency and Accountability Issues, by Gene L. Dodaro, acting comptroller general of the United States, before the Senate Committee on Finance.
GAO-09-539T, March 31.

FSIO - Standard Business Processes Document - Reimbursables Exposure Draft

The reimbursable management standard business process chapter is the fifth chapter of the standard business process document. This chapter puts forth best practice business processes for administering and managing interagency buy/sell transactions. These processes are focused on buy/sell reimbursable activity between Federal agency trading partners, and do not include fiduciary and non-expenditure transfer transactions.

The Reimbursable Management standard process spans the full lifecycle of an Interagency Agreement (IA) from establishing an agreement between a Buyer (requesting agency) and Seller (providing agency) where there is a bona fide need for an exchange of goods and/or services to close out of the IA. The review period for this exposure draft will end on May 1, 2009. Please submit your comments and questions in writing by close of business on May 1st to fsio@gsa.gov, using the comment template provided.

Document - [Word] - March 2009
FSIO Transmittal Letter - [Word] - March 2009
Comment Template - [Excel] - March 2009

Slides from the Federal Financial Management Conference

FSIO posted a link to the FFM Conference Slides: