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Financial Management
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As federal employees are furloughed, programs and contractors are cut, and agreement on future federal budgets appears remote, efficient management of the trillions of dollars it takes to operate the government is more important than ever. In Federal News Radio's on-air and online series, "Rise of the Money People: Financial management moves front and center as agencies make the final assault on wasted billions," we shine the light on chief financial officers and their soldiers in the financial wars, their strategies and tactics for waging the fight, the current and emerging weapons in their arsenal, and how their future battles will unfold.
April 08, 2013 -
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Building on the foundation of the Accounting and Auditing Act of 1950, Congress has increased the oversight and transparency of government spending over the years.
April 08, 2013 -
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Although they came from Planet Money, they look and act just like the rest of us. They work alongside us, sometimes they even run the show. So, who are these Money People? Where did they come from and where are they taking us? For answers, check out Federal News Radio's week-long series on the people who make the big-bucks decision, Senior Correspondent Mike Causey says.
April 08, 2013 -
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The Office of Management and Budget is telling agencies to stop building costly, agency-specific systems when they modernize their financial management systems. Instead, going forward, agencies must use a federal shared-services provider when updating their accounting systems, according to a new memo from OMB Controller Danny Werfel.
March 26, 2013 -
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A memo from Controller Danny Werfel requires agencies to submit a plan to maintain current total square footage for office and warehouse space. Agencies must offset any new growth by disposing of current leases.
March 14, 2013 -
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Danny Werfel, the OMB controller, will issue a new policy in the coming weeks that will mandate agencies simplify their requirements before upgrading their general ledger systems. The policy also will require agencies to strongly consider one of the four federal shared service providers. OMB said it has learned lessons from the previous attempts to move agencies into these common financial management infrastructures.
February 22, 2013 -
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News and buzz in the acquisition and IT communities that you may have missed this week.
January 11, 2013 -
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Winslow Wheeler, director of the Straus Military Reform Project at the Center for Defense Information (part of the Project on Government Oversight), says the Pentagon needs to get serious about about tracking spending in 2013.
January 04, 2013 -
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The House Oversight and Government Reform Committee is consolidating two subcommittees that oversee major agency functions, such as procurement and technology, into a new panel. No news yet on who will be the ranking members.
January 02, 2013 -
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The Homeland Security Department would be required to conduct and pass a full financial audit under a bill unanimously approved by the Senate on Wednesday. The DART Act requires the agency, long characterized by the Government Accountability Office as being at high-risk for waste and abuse, to reach a clean audit opinion by 2013.
November 29, 2012 -
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OMB Controller Danny Werfel announced Wednesday the federal government avoided paying out $47 billion in overpayments over the last three years. This missed President Barack Obama's goal of reducing improper payments by $50 billion by the end of FY2012.
November 23, 2012 -
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Fred Hochberg, the Export-Import Bank president told The Federal Drive with Tom Temin and Emily Kopp that unlike other agencies, his agency has been able to pay money to the government rather than take money from the government.
November 16, 2012 -
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An exclusive Federal News Radio survey of federal CFOs and deputy CFOs finds 55 percent of the respondents rated spending money more wisely as their top priority. But at the same time, 36 percent rated moving to the Internet Payment Portal or other financial management shared services as their fourth highest priority. CFOs also say they are using data to make better decisions and budget reductions, not sequestration, is their biggest concern.
October 09, 2012 -
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Peggy Sherry, the agency's CFO, said when budget cuts do come they are prepared. DHS has been finding efficiencies in its spending and asked components to think hard about how they spend their money.
September 17, 2012
