Hanford Waste Treatment Plant: DOE Needs to Take Action to Resolve Technical and Management Challenges (open access)

Hanford Waste Treatment Plant: DOE Needs to Take Action to Resolve Technical and Management Challenges

A letter report issued by the Government Accountability Office with an abstract that begins "The Department of Energy (DOE) faces significant technical challenges in successfully constructing and operating the Waste Treatment and Immobilization Plant (WTP) project that is to treat millions of gallons of highly radioactive liquid waste resulting from the production of nuclear weapons. DOE and Bechtel National, Inc. identified hundreds of technical challenges that vary in significance and potential negative impact and have resolved many of them. Remaining challenges include (1) developing a viable technology to keep the waste mixed uniformly in WTP mix tanks to both avoid explosions and so that it can be properly prepared for further processing; (2) ensuring that the erosion and corrosion of components, such as tanks and piping systems, is effectively mitigated; (3) preventing the buildup of flammable hydrogen gas in tanks, vessels, and piping systems; and (4) understanding better the waste that will be processed at the WTP. Until these and other technical challenges are resolved, DOE will continue to be uncertain whether the WTP can be completed on schedule and whether it will operate safely and effectively."
Date: December 19, 2012
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Information Technology: DHS Needs to Enhance Management of Major Investments (open access)

Information Technology: DHS Needs to Enhance Management of Major Investments

Testimony issued by the Government Accountability Office with an abstract that begins "Approximately two-thirds of the Department of Homeland Security's (DHS) major IT investments were meeting their cost and schedule commitments. Specifically, out of 68 major IT investments in development, 47 were meeting cost and schedule commitments. The remaining 21--which DHS had estimated to cost about $1 billion--had one or more subsidiary projects that were not meeting cost and/or schedule commitments (i.e., they exceeded their goals by at least 10 percent, which is the level at which the Office of Management and Budget (OMB) considers projects to be at increased risk of not being able to deliver planned capabilities on time and within budget.)"
Date: March 19, 2013
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Human Capital Management: Effectively Implementing Reforms and Closing Critical Skills Gaps Are Key to Addressing Federal Workforce Challenges (open access)

Human Capital Management: Effectively Implementing Reforms and Closing Critical Skills Gaps Are Key to Addressing Federal Workforce Challenges

Testimony issued by the Government Accountability Office with an abstract that begins "Since 2001, Congress, the Office of Personnel Management (OPM), and executive branch agencies have taken action to address the government's human capital challenges. For example, in 2002, Congress passed legislation creating the CHCO Council, composed of the Chief Human Capital Officers (CHCO) of 24 executive agencies and chaired by the Director of OPM. In 2004, through the Federal Workforce Flexibility Act, Congress provided agencies greater hiring flexibilities. OPM issued guidance on hiring reforms, developed the Hiring Toolkit, and launched an 80-day model to speed the hiring process."
Date: September 19, 2012
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Defense Contractors: Information on the Impact of Reducing the Cap on Employee Compensation Costs (open access)

Defense Contractors: Information on the Impact of Reducing the Cap on Employee Compensation Costs

A letter report issued by the Government Accountability Office with an abstract that begins "Reducing the cap to the President's salary ($400,000) or the Vice President's salary ($230,700) would have substantially increased the number of employees with compensation costs exceeding the cap in 2010-2012."
Date: June 19, 2013
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Workplace Safety and Health: Multiple Challenges Lengthen OSHA's Standard Setting (open access)

Workplace Safety and Health: Multiple Challenges Lengthen OSHA's Standard Setting

Testimony issued by the Government Accountability Office with an abstract that begins "In summary, we found that, between 1981 and 2010, the time it took OSHA to develop and issue safety and health standards ranged from 15 months to 19 years and averaged more than 7 years. Experts and agency officials cited several factors that contribute to the lengthy time frames for developing and issuing standards, including increased procedural requirements, shifting priorities, and a rigorous standard of judicial review. We also found that, in addition to using the typical standard-setting process, OSHA can address urgent hazards by issuing emergency temporary standards, although the agency has not used this authority since 1983 because of the difficulty it has faced in compiling the evidence necessary to meet the statutory requirements. Instead, OSHA focuses on enforcement activities—such as enforcing the general requirement of the Occupational Safety and Health Act of 1970 (OSH Act) that employers provide a workplace free from recognized hazards—and educating employers and workers about urgent hazards. Experiences of other federal agencies that regulate public or worker health hazards offered limited insight into the challenges OSHA faces in setting standards. For example, EPA officials pointed to certain requirements of the Clean …
Date: April 19, 2012
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Operation Iraqi Freedom: Actions Needed to Facilitate the Efficient Drawdown of U.S. Forces and Equipment from Iraq (open access)

Operation Iraqi Freedom: Actions Needed to Facilitate the Efficient Drawdown of U.S. Forces and Equipment from Iraq

A letter report issued by the Government Accountability Office with an abstract that begins "The drawdown from Iraq is a complex operation of significant magnitude. Established drawdown timelines dictate a reduction in forces to 50,000 troops by August 31, 2010, and a complete withdrawal of U.S. forces from Iraq by December 31, 2011. While DOD has made progress toward meeting these goals, a large amount of equipment, personnel, and bases remain to be drawn down. Moreover, escalating U.S. involvement in Afghanistan may increase the pressure on DOD to efficiently execute the drawdown. Due to broad congressional interest in drawdown issues, GAO performed this work under the Comptroller General's Authority. GAO examined (1) the extent to which DOD has planned for the drawdown from Iraq in accordance with set timelines, and (2) factors that may impact the efficient execution of the drawdown. To evaluate these efforts GAO reviewed documents and interviewed officials from over 20 DOD organizations in the U.S., Kuwait, and Iraq."
Date: April 19, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Surface Coal Mining: Information on Clean Water Act Section 404 Permit Reviews under Enhanced Coordination Procedures in Appalachia, Focusing on West Virginia (open access)

Surface Coal Mining: Information on Clean Water Act Section 404 Permit Reviews under Enhanced Coordination Procedures in Appalachia, Focusing on West Virginia

Correspondence issued by the Government Accountability Office with an abstract that begins "In 2009, West Virginia accounted for about 43 percent of the surface coal mining production in Appalachia. Surface coal mining in the mountainous areas of Appalachia--a process often referred to as mountaintop mining--has generated opposition in recent years because of its impact on landscapes, streams, ecosystems, and communities. In mountaintop mining, before the underlying coal can be extracted, the land is cleared of forest and other vegetation. Explosives or other techniques are then used to break up the overlying solid rock, creating dislodged earth, rock, and other materials known as "spoil." Some or most of the spoil is placed back on the mined-out area; however, spoil that cannot be safely placed back is often placed as "fill" in adjacent valleys or hollows. In some cases, this fill buries the headwaters of streams. Activities associated with surface coal mining are regulated under both the Surface Mining Control and Reclamation Act (SMCRA) and the Clean Water Act (CWA).3 SMCRA requires mine operators to obtain a permit before they begin mining. In West Virginia, the West Virginia Department of Environmental Protection (WVDEP) administers the SMCRA permit program, subject to the Department …
Date: October 19, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Bankruptcy: Complex Financial Institutions and International Coordination Pose Challenges (open access)

Bankruptcy: Complex Financial Institutions and International Coordination Pose Challenges

A letter report issued by the Government Accountability Office with an abstract that begins "The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd- Frank Act) created the Orderly Liquidation Authority (OLA) that can be used to resolve failed systemically important financial institutions. However, questions continued to be raised about the effectiveness of the U.S. Bankruptcy Code (Code) and current mechanisms for international coordination in bankruptcy cases. The Dodd-Frank Act requires GAO to report on the effectiveness of the Code in resolving certain failed financial institutions on an ongoing basis. Among its objectives, this report addresses (1) the effectiveness of Chapters 7 and 11 of the Code for facilitating orderly resolutions of failed financial institutions; (2) proposals for improving the effectiveness of liquidations and reorganizations under the Code; and (3) existing mechanisms that facilitate international coordination under the Code and barriers to coordination of financial institution bankruptcies. GAO reviewed laws, judicial decisions, regulations, data, and academic literature on resolutions, and spoke with relevant government officials, industry representatives, and experts from the legal and academic communities about the effectiveness of the Code."
Date: July 19, 2011
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Status of U.S. Army Corps of Engineers Efforts to Implement GAO's 2007 Recommendations Regarding Its Section 214 Authority (open access)

Status of U.S. Army Corps of Engineers Efforts to Implement GAO's 2007 Recommendations Regarding Its Section 214 Authority

Correspondence issued by the Government Accountability Office with an abstract that begins "When cities, counties, or other nonfederal public entities propose public works projects that could degrade or damage federally regulated waters and wetlands, such as road construction and sewer line construction or maintenance, they must obtain a permit from the U.S. Army Corps of Engineers (Corps) before proceeding. Under authorities delegated to the Corps from Section 404 of the Clean Water Act, the agency is responsible for regulating activities that may impact wetlands, streams, and other waters throughout much of the United States and it decides whether to allow such activities to occur. To obtain the Corps' approval, the nonfederal public entity, like any other property owner, must submit a permit application that contains a description of the proposed project, including its purpose and location, and other information the Corps needs to evaluate how the project will affect wetlands and other federally regulated waters. Once the Corps receives all of the required information from the applicant, the permit review process begins. Some policymakers and others have expressed concerns that the Corps' permit process takes too long and has significantly delayed some public works projects. In 2000, the Congress included …
Date: February 19, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Maritime Security: Progress and Challenges in Key DHS Programs to Secure the Maritime Borders (open access)

Maritime Security: Progress and Challenges in Key DHS Programs to Secure the Maritime Borders

Testimony issued by the Government Accountability Office with an abstract that begins "GAO's prior work has identified several key factors important to secure the maritime borders. The Department of Homeland Security (DHS) and its components have made progress (e.g., coordinating with partners), and in some cases also experienced challenges with their related maritime security programs."
Date: November 19, 2013
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Security Assistance: Evaluations Needed to Determine Effectiveness of U.S. Aid to Lebanon's Security Forces (open access)

Security Assistance: Evaluations Needed to Determine Effectiveness of U.S. Aid to Lebanon's Security Forces

A letter report issued by the Government Accountability Office with an abstract that begins "The United States has kept strategic goals for Lebanon constant since 2007 and adjusted security assistance in response to political and security conditions. Since 2007, U.S. strategic goals for Lebanon have been to support the nation as a stable, secure, and independent democracy. According to U.S. officials, U.S. policy priorities include supporting the Government of Lebanon in establishing stability and security against internal threats from militant extremists and the influence of Iran and Syria. U.S. programs to help achieve these priorities include Foreign Military Financing, International Military Education and Training (IMET), International Narcotics Control and Law Enforcement (INCLE), Antiterrorism Assistance, Counterterrorism Financing, Export Control and Related Border Security, and Section 1206 and 1207 authorities. While strategic goals have not changed, program implementation has changed to meet conditions on the ground, according to U.S. officials. For example, the Department of State (State) delayed committing Foreign Military Financing funds to Lebanon for 3 months in 2010, following an exchange of fire between the Lebanese Armed Forces and Israeli forces."
Date: March 19, 2013
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Data Center Consolidation: Agencies Need to Complete Inventories and Plans to Achieve Expected Savings (open access)

Data Center Consolidation: Agencies Need to Complete Inventories and Plans to Achieve Expected Savings

A letter report issued by the Government Accountability Office with an abstract that begins "Over time, the federal government's demand for information technology has led to a dramatic rise in the number of federal data centers and an increase in operational costs. Recognizing this increase, the Office of Management and Budget (OMB) has launched a governmentwide initiative to consolidate data centers. GAO was asked to (1) assess whether agency consolidation documents include adequate detail for agencies to consolidate their centers, (2) identify the key consolidation challenges reported by agencies, and (3) evaluate whether lessons learned during state government consolidation efforts could be leveraged at the federal level. To address these objectives, GAO assessed the completeness of agency inventories and plans, interviewed agencies about their challenges, and evaluated the applicability of states' consolidation lessons to federal challenges."
Date: July 19, 2011
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Transportation Security: Action Needed to Strengthen TSA's Security Threat Assessment Process (open access)

Transportation Security: Action Needed to Strengthen TSA's Security Threat Assessment Process

A letter report issued by the Government Accountability Office with an abstract that begins "The Transportation Security Administration's (TSA) Adjudication Center performance data show mixed results, and the center's performance measurement practices have limitations. The Adjudication Center relies on contractors to adjudicate security threat assessments and uses three primary measures to evaluate their performance--timeliness for completing adjudication, adjudication accuracy, and caseload status. GAO found that the Adjudication Center contractor met its timeliness and accuracy measures, but faced challenges in meeting its caseload measure. The Adjudication Center's timeliness and accuracy measures did not capture key data. According to TSA officials, the Adjudication Center's accuracy rate is based on a review of all cases where adjudicators had disqualified an applicant. However, this calculation generally does not include the accuracy rate for those applicants adjudicators had approved--which account for roughly 90 percent of the Adjudication Center's caseload. In this way, the accuracy rate provides a limited assessment of adjudicator performance. By developing an accuracy rate that includes data on both incorrectly disqualified and incorrectly approved applicants, TSA can better identify and addresses performance issues among its workforce."
Date: July 19, 2013
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Intelligent Transportation Systems: Improved DOT Collaboration and Communication Could Enhance the Use of Technology to Manage Congestion (open access)

Intelligent Transportation Systems: Improved DOT Collaboration and Communication Could Enhance the Use of Technology to Manage Congestion

A letter report issued by the Government Accountability Office with an abstract that begins "State and local governments currently use ITS technologies in various ways to monitor and control traffic and inform travelers. For example, transportation agencies use cameras to monitor traffic conditions, signal technologies to control traffic flow, and dynamic message signs to inform travelers about travel conditions. By interviewing experts, GAO identified several emerging uses of ITS that have significant potential to reduce traffic congestion. For example, integrating traffic and emergency services data can allow for enhanced detection of and response to roadway incidents. However, some cities use ITS and the emerging uses to a much greater extent than others."
Date: March 19, 2012
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Status of the Small Business Administration's Implementation of Administrative Provisions in the American Recovery and Reinvestment Act of 2009 (open access)

Status of the Small Business Administration's Implementation of Administrative Provisions in the American Recovery and Reinvestment Act of 2009

Correspondence issued by the Government Accountability Office with an abstract that begins "Due to recent turmoil in U.S. credit markets, many lenders have been reluctant to offer conventional loans--that is, loans not guaranteed by the federal government--to small businesses so that they can finance their operations and capital needs. While the Small Business Administration's (SBA) principal loan guarantee programs, the 7(a) and 504 programs, are intended to help small businesses raise critical financing that they may have difficulty obtaining from other sources, the availability of such loans has also declined. Under the 7(a) program, SBA traditionally has provided lenders guarantees on up to 85 percent of the value of loans to qualifying small businesses in exchange for fees to help offset the costs of the program. Under the 504 program, which generally applies to small business real estate and other fixed assets, SBA provides certified development companies with a guarantee on up to 40 percent of the financing of the projects' costs in exchange for fees--the small business borrowers and other lenders provide the remaining 60 percent of the financing on an unguaranteed basis. Traditionally, lenders, such as banks, that participate in the 7(a) or 504 programs often sell qualifying …
Date: January 19, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Patient Protection and Affordable Care Act: Status of Federal and State Efforts to Establish Health Insurance Exchanges for Small Businesses (open access)

Patient Protection and Affordable Care Act: Status of Federal and State Efforts to Establish Health Insurance Exchanges for Small Businesses

A letter report issued by the Government Accountability Office with an abstract that begins "For 2014, the Department of Health and Human Services' (HHS) Centers for Medicare & Medicaid Services (CMS) granted conditional approval to 18 states to establish state-based Small Business Health Options Programs, or SHOPs, and to 17 states to operate health insurance exchanges for individuals. CMS is required to operate a federally facilitated SHOP (FF-SHOP) and a federally facilitated exchange for individuals (FFE) in the remaining states. Of the 33 states with FF-SHOPs and 34 states with FFEs, 15 states are expected to assist CMS to carry out certain functions of the exchange. However, the activities that CMS plans to complete in these 15 exchanges have evolved, and CMS activities in these and other exchanges may continue to change. For example, CMS approved state roles in SHOPs and individual exchanges on the condition that they ultimately complete key activities for exchange establishment. CMS indicated that it would assume more responsibilities in these exchanges if any state did not adequately progress towards completion of all required activities."
Date: June 19, 2013
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Managing For Results: Agencies Should More Fully Develop Priority Goals under the GPRA Modernization Act (open access)

Managing For Results: Agencies Should More Fully Develop Priority Goals under the GPRA Modernization Act

A letter report issued by the Government Accountability Office with an abstract that begins "For 102 agency priority goals (APGs) for 2012 to 2013 that GAO reviewed, agencies implemented three GPRA Modernization Act of 2010 (the act) requirements. Agencies identified (1) a target level of performance within a 2-year time frame; (2) how their APGs contribute to their strategic goals; and (3) an agency official responsible for achieving each APG. These represent important accomplishments, but information about other requirements is incomplete:"
Date: April 19, 2013
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Medicare Advantage: Special Needs Plans Were More Profitable, on Average, than Plans Available to All Beneficiaries in 2011 (open access)

Medicare Advantage: Special Needs Plans Were More Profitable, on Average, than Plans Available to All Beneficiaries in 2011

Correspondence issued by the Government Accountability Office with an abstract that begins "Special needs plans (SNP) reported having higher profit margins and spending a lower percentage of total revenues on medical expenses, on average, than Medicare Advantage (MA) plans available to all beneficiaries in 2011. For instance, SNPs' average profit margin was 4.0 percentage points higher than plans available to all beneficiaries--8.6 percent vs. 4.6 percent. SNPs also had a higher plan-level median profit margin compared to MA plans available to all beneficiaries--7.1 percent vs. 3.2 percent. All three types of SNPs--dual-eligible SNPs, chronic condition SNPs, and institutional SNPs--spent, on average, a lower percentage of total revenue on medical expenses and had higher profit margins relative to MA plans available to all beneficiaries. SNPs also spent a lower percentage of total revenue on medical expenses and had higher profit margins relative to MA plans available to all beneficiaries after accounting for whether a plan had a high or low enrollment-weighted average benchmark--the maximum amount Medicare will pay plans to serve an average beneficiary in a given area. Similarly, SNPs spent a lower percentage of total revenue on medical expenses and had higher profit margins relative to MA plans available to …
Date: December 19, 2013
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Department of Energy: Better Information Needed to Determine If Nonmajor Projects Meet Performance Targets (open access)

Department of Energy: Better Information Needed to Determine If Nonmajor Projects Meet Performance Targets

A letter report issued by the Government Accountability Office with an abstract that begins "Of the 71 nonmajor projects that the Department of Energy's (DOE) Office of Environmental Management (EM) and National Nuclear Security Administration (NNSA) completed or had under way from fiscal years 2008 to 2012, 21 met or are expected to meet their performance targets for scope, cost, and completion date. These projects included a $22 million EM project to expand an existing waste disposal facility at the Oak Ridge Reservation in Tennessee and a $199 million NNSA project to equip a radiological laboratory and office building at the Los Alamos National Laboratory in New Mexico. Another 23 projects did not meet or were not expected to meet one or more of their three performance targets for scope, cost, and completion date. Among these, 13 projects met or are expected to meet two targets, including a $548 million NNSA project to shut down a nuclear reactor in Russia for nonproliferation purposes; 8 projects met or are expected to meet one target; 1 project did not meet any of its targets; and 1 project was cancelled. Of the remaining 27 projects, many had insufficiently documented performance targets for scope, …
Date: December 19, 2012
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Joint Strike Fighter: Additional Costs and Delays Risk Not Meeting Warfighter Requirements on Time (open access)

Joint Strike Fighter: Additional Costs and Delays Risk Not Meeting Warfighter Requirements on Time

A letter report issued by the Government Accountability Office with an abstract that begins "The F-35 Lightning II, also known as the Joint Strike Fighter (JSF), is the Department of Defense's (DOD) most costly and ambitious aircraft acquisition, seeking to simultaneously develop and field three aircraft variants for the Air Force, Navy, Marine Corps, and eight international partners. The JSF is critical for recapitalizing tactical air forces and will require a long-term commitment to very large annual funding outlays. The current estimated investment is $323 billion to develop and procure 2,457 aircraft. As required by law, this report discusses (1) program cost, schedule, and performance; (2) manufacturing results; and (3) test plans and progress. GAO's work includes interviews, cost data, test plans, production measures, and analyses by defense and contractor officials."
Date: March 19, 2010
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Information Security: Veterans Affairs Needs to Resolve Long-Standing Weaknesses (open access)

Information Security: Veterans Affairs Needs to Resolve Long-Standing Weaknesses

Testimony issued by the Government Accountability Office with an abstract that begins "Since 1997, GAO has identified information security as a governmentwide high-risk issue. This has been particularly true at the Department of Veterans Affairs (VA), where the department has been challenged in protecting the availability, confidentiality, and integrity of its information and systems. Since the 1990s, GAO has highlighted the challenges the department has faced, including the need to safeguard personal information. GAO was asked to testify on VA's progress in implementing information security and the department's compliance with the Federal Information Security Management Act of 2002 (FISMA), a comprehensive framework for securing federal information resources. In preparing this testimony, GAO analyzed prior GAO, Office of Management and Budget, VA Office of Inspector General, and VA reports related to the department's information security program."
Date: May 19, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Small Business Administration: Continued Attention Needed to Address Reforms to the Disaster Loan Program (open access)

Small Business Administration: Continued Attention Needed to Address Reforms to the Disaster Loan Program

Testimony issued by the Government Accountability Office with an abstract that begins "After the Small Business Administration (SBA) was widely criticized for its performance following the 2005 Gulf Coast hurricanes, the agency took steps to reform its Disaster Loan Program. Congress also enacted the Small Business Disaster Response and Loan Improvements Act of 2008 (Act), which places new requirements on SBA to ensure it is prepared for catastrophic disasters. This testimony discusses (1) the extent to which SBA has addressed the Act's requirements, and (2) how SBA's response to major disasters in 2008 aligned with key components of its June 2007 Disaster Recovery Plan (DRP). In completing this statement, GAO reviewed and updated, as appropriate, the July 2009 report, Small Business Administration: Additional Steps Should Be Taken to Address Reforms to the Disaster Loan Program and Improve the Application Process for Future Disasters (GAO-09-755). In that report, GAO recommended that SBA should fulfill the Act's region-specific marketing and outreach requirements; complete its annual report to Congress; issue an updated DRP; develop an implementation plan for remaining requirements; and develop procedures to further improve the application process for the Disaster Loan Program."
Date: May 19, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Joint Strike Fighter: Restructuring Places Program on Firmer Footing, but Progress Is Still Lagging (open access)

Joint Strike Fighter: Restructuring Places Program on Firmer Footing, but Progress Is Still Lagging

Testimony issued by the Government Accountability Office with an abstract that begins "The F-35 Lightning II, also known as the Joint Strike Fighter (JSF), is the Department of Defense's (DOD) most costly and ambitious aircraft acquisition, seeking to simultaneously develop and field three aircraft variants for the Air Force, Navy, Marine Corps, and eight international partners. The JSF is critical for recapitalizing tactical air forces and will require a long-term commitment to very large annual funding outlays. The estimated total investment cost is currently about $385 billion to develop and procure 2,457 aircraft. Because of a history of relatively poor cost and schedule outcomes, defense leadership over the past 15 months has directed a comprehensive restructuring of the JSF program that is continuing. This testimony draws substantially from our extensive body of work on the JSF including our April 2011 report, the latest annual review mandated in the National Defense Authorization Act for Fiscal Year 2010, Pub. L. No. 111-84 244 (2009). This testimony discusses (1) program cost and schedule changes and their implications on affordability; (2) progress made during 2010; (3) design and manufacturing maturity; and (4) test plans and progress. GAO's work included analyses of a wide range …
Date: May 19, 2011
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Municipal Securities: Options for Improving Continuing Disclosure (open access)

Municipal Securities: Options for Improving Continuing Disclosure

A letter report issued by the Government Accountability Office with an abstract that begins "Market participants indicated that primary market disclosure for municipal securities—official statements—generally provides useful information, but investors and market participants cited a number of limitations to continuing disclosures. The most frequently cited limitations were timeliness, frequency, and completeness. For example, investors and other market participants said that issuers do not always provide all the financial information, event notices, or other information they pledged to provide for the lifetime of a security. While GAO's analysis of current regulatory requirements for municipal securities disclosure found that they largely reflected the seven principles of effective disclosure, regulators and market participants said that there are some limitations on the enforceability and efficiency of the regulations. However, the effect of these limitations on individual investors largely is unknown because limited information exists about the extent to which individual investors use disclosures to make investment decisions. Nevertheless, regulators remain concerned about this market, in part due to its size and the participation of individual investors. As discussed below, the Securities and Exchange Commission (SEC) and Municipal Securities Rulemaking Board (MSRB) have been taking or plan to take actions to improve disclosure."
Date: July 19, 2012
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library