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DOD FINANCIAL MANAGEMENT: Effect of Continuing Weaknesses on Management and Operations and Status of Key Challenges
In the face of continuing reports of financial management weaknesses across the federal government, including wasteful spending, poor management, and losses totaling billions of dollars, the Chief Financial Officers (CFO) Act of 1990 was signed into law. The act focuses on improving systems of accounting, financial management, and internal control; and enabling effective management and oversight through the production of complete, reliable, timely, and consistent financial information.
" Given the federal government's continuing fiscal challenges, it is more important than ever that the Congress, the administration, and federal managers have reliable, useful, and timely financial and performance information to help ensure fiscal responsibility and demonstrate accountability, particularly for the federal government's largest department, the Department of Defense. GAO has previously reported that serious and continuing deficiencies in DOD's financial management make up one of three major impediments to achieving an opinion on the U.S. government's consolidated financial statements. GAO's statement focuses on (1) the effect of continuing financial management challenges on DOD management and operations and (2) DOD's efforts to improve financial management and its remaining challenges. GAO's statement is primarily based on previously issued reports, including GAO's updates on DOD high-risk areas and its audit reports on DOD's financial management, inventory management and asset visibility, weapon system costs, business transformation, and business system modernization. "
Pentagon spending has been the target of decades of criticism and reform efforts. Billions of dollars are spent on weapons programs that are later abandoned. State-of-the-art data centers are underutilized and overstaffed. New business systems are built at great expense but fail to meet the needs of their users. Every Secretary of Defense for the last five Administrations has made it a priority to address perceived bloat and inefficiency by making management reform a major priority. The congressional defense committees have been just as active, enacting hundreds of legislative provisions. Yet few of these initiatives produce significant results, and the Pentagon appears to go on, as wasteful as ever. In this book, Peter Levine addresses why, despite a long history of attempted reform, the Pentagon continues to struggle to reduce waste and inefficiency. The heart of Defense Management Reform is three case studies covering civilian personnel, acquisitions, and financial management. Narrated with the insight of an insider, the result is a clear understanding of what went wrong in the past and a set of concrete guidelines to plot a better future.
Statement of Asif A. Khan, Dir., Financial Management and Assurance, GAO. Given the federal government's continuing fiscal challenges, it is more important than ever that the Congress, the administration, and federal managers have reliable, useful, and timely financial and performance information to help ensure fiscal responsibility and demonstrate accountability, particularly for the federal government's largest department, the Department of Defense (DOD). GAO has previously reported that serious and continuing deficiencies in DOD's financial management make up a major impediment to achieving an opinion on the U.S. government's consolidated financial statements. This statement focuses on (1) the effect of continuing financial management challenges on DOD management and operations; and (2) DOD's efforts to improve financial management and its remaining challenges. This is a print on demand report.
This report addresses the major performance and accountability challenges facing the Department of Labor as it seeks to promote the welfare and economic security of the nations work force and ensure that workplaces are safe and healthy. It includes a summary of actions that Labor has under way to address these challenges and outlines further actions that GAO believes are needed. This analysis should help the new Congress and administration carry out their responsibilities and improve government for the benefit of the American people.