Critical Issues and Problems Facing the New Administration and Congress: Hearing Before the Committee on Governmental Affairs, United States Senate, One Hundred First Congress, First Session, January 18, 1989
U.S. Government Printing Office, 1989 - Budget deficits - 747 pages
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Page 222 - Once a leader in the early days of automation, the Government's financial systems and operations have eroded to the point that they do not meet generally accepted standards." Conventional efforts to put the government's financial house in order have lacked the long-term, governmentwide approach that is necessary to ensure that consistent data are available across agency and department lines.
Page 230 - IGs are a proven means for preventing and detecting fraud, waste, and mismanagement in federal programs and have been a key factor in strengthening federal internal audit and investigative activities and improving operations within the federal government. The...
Page 277 - Inventory of secondary Items, such as space and repair parts, is at an all-time high. At the depot level alone, the value of these items grew from $43 billion in 1980 to $94 billion in 1987. While much of this growth resulted from Increased costs due to Inflation and the need to support weapon systems modernization, a sizable portion represents unneeded inventories. The amount of unneeded secondary items Increased from $10.1 billion in 1980 to $28.9 billion in 1988, much faster than needed items....
Page 292 - HCFA was unable to answer a number of questions asked by the Congress and the Office of Management and Budget on the effects of changing Medicare to a prospective system.
Page 223 - Page 21 structure, proposed a conceptual framework to guide improvement efforts, and provided an implementation strategy. Since then we have seen a growing consensus as to the need to reform the government's financial management systems and as to what needs to be done across government to accomplish meaningful and lasting improvement.
Page 377 - Crop Insurance: Overpayment of Claims by Private Companies Costs the Government Millions (GAO/RCED-88-7, Nov.
Page 213 - With the budget structured in this way, deficit reduction targets could then reflect the appropriate balance between shortterm consumption needs (operating expenses) and long-term infrastructure and productivity enhancing needs (capital investments).
Page 62 - But better systems alone won't solve the IRS's problems,' states the Comptroller General, 'the agency must also invest in people. The IRS must attract top graduates in accounting, legal and computer fields ... a task that is increasingly difficult as federal pay in these jobs lags behind the private sector more every year. While all government agencies face problems in competing for qualified people, the need is especially acute at IRS.'25 Disinvestment in governmental institutions is costly in monetary...
Page 135 - FDIC's reserves cannot cover the FSLIC losses. Moreover, problems in the commercial banks, especially those related to energy, real estate, agriculture, and. third world lending, may require all of FDIC's present $18 billion of reserves." (p. 6) It is impossible for us to determine the accuracy of our crude estimate of the FDIC's net reserve position. To develop a more refined estimate, we urge the FDIC to release detailed information...
Page 228 - We 10 The Federal Managers' Financial Integrity Act requires agency managers to evaluate and report annually to the President and the Congress on the adequacy of their internal controls and accounting systems and what is being done to correct the problems. 11 OMB Bulletin 93-06, Audit Requirements for Federal Financial Statements, January £ 1993.