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When it comes to financial management, it didn't take the relatively new Consumer Financial Protection Bureau to get off track. The Government Accountability Office found the bureau has significant deficiencies in its internal controls. It has trouble accounting for its property, including software licensing. For the latest, Federal Drive with Tom Temin turns to Larry Malenich, director of financial management and assurance issues at the GAO.
The Labor Department hired Booz Allen Hamilton under a $74.2 million contract to manage its financial management system while it prepares to move to a federal shared service provider in 2019.
The Defense Department has spent the last seven years getting itself ready for its first-ever financial audit. But the congressionally-mandated timeline for DoD to become “audit ready” means a new administration will have taken office before the final test.
Mike Hettinger, president and managing principal of the Hettinger Strategy Group LLC, argues for OMB to change its approach to modernizing financial management systems.
Reported improper payments are likely to increase as agencies improve their ability to ferret out overpayments and underpayments
New data from the administration shows 13 milestones for administrative shared services, including seven for human resources, in 2016.
The Office of Management and Budget announced a new governance and oversight structure for the financial management shared services initiative. The oversight committee will create a strategy and the Unified Shared Service Management Team will drive the implementation of shared services across government.
The Defense Department is asking Congress to shift $23 million in additional funds to cover a suite of credit monitoring services for its federal workers compromised by the OPM data breach.
Congress and agencies are still looking for answers as they grapple with a 14 percent increase in the governmentwide improper payment rate in 2014.
HUD’s Inspector General says the department’s attempt to move its finances to a shared service is moving too fast.
The Department of Veterans Affairs will have to shutter some facilities beginning in August if Congress does not approve an emergency reallocation of funds, officials said Wednesday. Congressional overseers are displeased, saying they were blindsided by VA’s budget emergency.
The Office of Management and Budget wants grant-making agencies to have access to all the past performance data on grantees as part of their broader effort to improve the grant-making process. Agencies award more money in grants than on contracts.
There\'s been a lot of movement in the federal IT and acquisition communities over the last few weeks.
Of the 24 CFO Act agencies — those required to have audited financial statements — about half failed to comply with the law on improper payments, according to a preliminary analysis of the IG reports by the accounting firm Grant Thornton. The low scorers include the agencies that misspent the most money: the departments of Health and Human Services, Treasury, Agriculture and the Social Security Administration.