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The Pentagon is making notable progress towards its 2014 and 2017 audibility mandates, according to Beth McGrath, the Pentagon's deputy chief management officer. "It's not just the responsibility of the comptroller, for example, to achieve audit readiness," McGrath tells Federal News Radio. "It's everybody has to play."
The White House chose nine projects for the second round of the innovation fellows program, including the 21st century Financial Systems project. This program hopes to simplify current accounting methods and minimize cost inefficiencies. Other PIF projects look to create platforms for sharing ideas within and between agencies.
In his Inside the Reporter's Notebook feature, Executive Editor Jason Miller shares news and buzz in the acquisition and IT communities that you may have missed this week.
Deputy Controller Norman Dong issued a memo to CFOs detailing steps they must take over the next 17 months better track and validate data between agency financial systems and the USASpending.gov portal.
DoD's senior executives with responsibility for budget matters report a sudden decline in job satisfaction. No surprise: sequestration's mostly to blame.
The Defense Department reported making just $1.1 billion in improper payments in fiscal 2011, a small fraction of the Pentagon's total outlays of more than $1 trillion. But, in a new report, the Government Accountability Office said those estimates are neither reliable nor statistically valid because of "longstanding and pervasive" weaknesses in DoD financial-management practices as well as specific deficiencies in the department's procedures for estimating improper payments.
OMB and Treasury have been working with the four federal financial management shared services providers to collect information on cost and performance. OMB Deputy Controller Norman Dong said the data will help agencies make true comparisons of the providers.
Senate lawmakers are promising to change the laws to let agencies have easier access to the Death Master File and other key databases. Starting June 1, agencies must check the Do Not Pay list before issuing any money.
Federal chief financial officers have more foresight, insight and hindsight than ever before to make better decisions. But just as important as having these wide-ranging sight lines is how they are being translated down to the program level. Experts say agencies are slowly heading down the path of using data to make better decisions.
Linda Springer, former controller at the Office of Management and Budget, tells In Depth's Francis Rose why it's important for members across the C-Suite to work together.
The Defense Department's attitude toward the importance of auditability has undergone a marked change, but experts believe compliance with its next legal deadline will be a stretch.
From shared services and data-driven decision-making, to shrinking budgets and workforces, Federal News Radio's special report, Rise of the Money People, tracks the emerging trends in effective financial management at federal agencies, and the possible hurdles that stand in the way of saving even more money.
Congressman John Mica says his top priority as chairman of the House Oversight and Government Reform Subcommittee on Government Operations is to cut agency waste, fraud and abuse beyond just the low hanging fruit. Mica's column is part of Federal News Radio's special report, Rise of the Money People.
Kim McCoy, the bureau's chief information officer, said she's looking at how best to pre-position resources to get new agency financial management customers on board more quickly. April 11, 2013