Securities Markets: Decimal Pricing has Contributed to Lower Trading Costs and a More Challenging Trading Environment (open access)

Securities Markets: Decimal Pricing has Contributed to Lower Trading Costs and a More Challenging Trading Environment

A letter report issued by the Government Accountability Office with an abstract that begins "In early 2001, U.S. stock and option markets began quoting prices in decimal increments rather than fractions of a dollar. At the same time, the minimum price increment, or tick size, was reduced to a penny on the stock markets and to 10 cents and 5 cents on the option markets. Although many believe that decimal pricing has benefited small individual (retail) investors, concerns have been raised that the smaller tick sizes have made trading more challenging and costly for large institutional investors, including mutual funds and pension plans. In addition, there is concern that the financial livelihood of market intermediaries, such as the broker-dealers that trade on floor-based and electronic markets, has been negatively affected by the lower ticks, potentially altering the roles these firms play in the U.S. capital market. GAO assessed the effect of decimal pricing on retail and institutional investors and on market intermediaries."
Date: May 31, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Natural Resources: Federal Agencies Are Engaged in Various Efforts to Promote the Utilization of Woody Biomass, but Significant Obstacles to Its Use Remain (open access)

Natural Resources: Federal Agencies Are Engaged in Various Efforts to Promote the Utilization of Woody Biomass, but Significant Obstacles to Its Use Remain

A letter report issued by the Government Accountability Office with an abstract that begins "In an effort to reduce the risk of wildland fires, many federal land managers--including the Forest Service and the Bureau of Land Management (BLM)--are placing greater emphasis on thinning forests and rangelands to help reduce the buildup of potentially hazardous fuels. These thinning efforts generate considerable quantities of woody material, including many smaller trees, limbs, and brush--referred to as woody biomass--that currently have little or no commercial value. GAO was asked to determine (1) which federal agencies are involved in efforts to promote the use of woody biomass, and actions they are undertaking; (2) how these agencies are coordinating their activities; and (3) what agencies see as obstacles to increasing the use of woody biomass, and the extent to which they are addressing these obstacles."
Date: May 13, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
DOD Excess Property: Management Control Breakdowns Result in Substantial Waste and Inefficiency (open access)

DOD Excess Property: Management Control Breakdowns Result in Substantial Waste and Inefficiency

A letter report issued by the Government Accountability Office with an abstract that begins "Based on limited previous GAO work that identified examples of purchases of new items at the same time identical items in excellent or good condition were excessed, GAO was asked to assess the overall economy and efficiency of the Department of Defense (DOD) program for excess property reutilization (reuse). Specifically, GAO was asked to determine (1) whether and to what extent the program included waste and inefficiency and (2) root causes of any waste and inefficiency. GAO was also asked to provide detailed examples of waste and inefficiency and the related causes. GAO's methodology included an assessment of controls, analysis of DOD excess inventory data, statistical sampling at selected sites, and detailed case studies of many items."
Date: May 13, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Combating Alien Smuggling: Opportunities Exist to Improve the Federal Response (open access)

Combating Alien Smuggling: Opportunities Exist to Improve the Federal Response

A letter report issued by the Government Accountability Office with an abstract that begins "Globally, alien smuggling generates billions of dollars in illicit revenues annually and poses a threat to the nation's security. Creation of the Department of Homeland Security (DHS) in March 2003 has provided an opportunity to use financial investigative techniques to combat alien smugglers by targeting and seizing their monetary assets. For instance, the composition of DHS's largest investigative component--U.S. Immigration and Customs Enforcement (ICE)--includes the legacy Customs Service, which has extensive experience with money laundering and other financial crimes. Another DHS component, U.S. Customs and Border Protection (CBP) has primary responsibility for interdictions between ports of entry. In summer 2003, ICE announced that it was developing a national strategy for combating alien smuggling. Among other objectives, GAO determined the implementation status of the strategy and investigative results in terms of convictions and seized assets."
Date: May 27, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Information Management: Freedom of Information Act Fee and Fee Waiver Processing at the Department of Energy (open access)

Information Management: Freedom of Information Act Fee and Fee Waiver Processing at the Department of Energy

A letter report issued by the Government Accountability Office with an abstract that begins "The Freedom of Information Act (FOIA) gives the public the right to access information about the federal government. In addressing requests for information, agencies have the authority to assess fees for certain categories of requesters to cover the costs of locating and copying records, as well as discretion to waive fees if specific criteria are met. GAO was asked to determine, for fiscal year 2004, the volume and nature of FOIA request processing at the Department of Energy (DOE), to what extent DOE followed the act and related Office of Management and Budget and Department of Justice guidance in processing cases that involve fees, and to what extent DOE communicated its fee-related decisions to requesters."
Date: May 27, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Health Information Technology: HHS Is Taking Steps to Develop a National Strategy (open access)

Health Information Technology: HHS Is Taking Steps to Develop a National Strategy

A letter report issued by the Government Accountability Office with an abstract that begins "To prevent medical errors, reduce costs, improve quality, and produce greater value for health care expenditures, President Bush has called for the Department of Health and Human Services (HHS) to develop and implement a strategic plan to guide the nationwide implementation of health information technology (IT) in both the public and private health care sectors. The Departments of Defense (DOD) and Veterans Affairs (VA), along with other countries, have already taken steps to improve health care delivery and administration by implementing IT solutions. GAO was asked to provide an overview of HHS's recent efforts to develop a national health IT strategy for realizing the President's vision, and to identify lessons learned from DOD's, VA's, and other countries' experiences in implementing health IT."
Date: May 27, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Overseas Security: State Department Has Not Fully Implemented Key Measures to Protect U.S. Officials from Terrorist Attacks Outside of Embassies (open access)

Overseas Security: State Department Has Not Fully Implemented Key Measures to Protect U.S. Officials from Terrorist Attacks Outside of Embassies

A letter report issued by the Government Accountability Office with an abstract that begins "U.S. government officials working overseas are at risk from terrorist threats. Since 1968, 32 embassy officials have been attacked--23 fatally--by terrorists outside the embassy. As the State Department continues to improve security at U.S. embassies, terrorist groups are likely to focus on "soft" targets--such as homes, schools, and places of worship. GAO was asked to determine whether State has a strategy for soft target protection; assess State's efforts to protect U.S. officials and their families while traveling to and from work; assess State's efforts overseas to improve security at schools attended by the children of U.S. officials; and describe issues related to protection at their residences."
Date: May 9, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Social Security Reform: Answers to Key Questions (open access)

Social Security Reform: Answers to Key Questions

Other written product issued by the Government Accountability Office with an abstract that begins "The sooner our nation acts to address Social Security's long-term financial challenges, the easier it will be to successfully meet them. Once explained, the choices we face are not difficult to understand, but they are difficult to make. They affect both how much Americans pay for Social Security and how much they receive from the program. They require changes that not only will affect us but have implications for future generations. They also are difficult because they involve deeply felt values, such as community, individualism, fairness, and human dignity. This guide tries to boil down the complexities of Social Security and the implications of reform to the basic choices we face as a nation."
Date: May 2, 2005
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
National Park Service: Revenues Could Increase by Charging Allowed Fees for Some Special Uses Permits (open access)

National Park Service: Revenues Could Increase by Charging Allowed Fees for Some Special Uses Permits

A letter report issued by the Government Accountability Office with an abstract that begins "The National Park Service routinely issues permits for special park uses, such as special events or commercial filming and still photography. However, the National Football League's use of the National Mall to launch its 2003 season raised questions about whether permitting such events was consistent with existing policies and law and whether all applicable fees for permitting special park uses were being collected. GAO (1) identified applicable policy guidance for issuing special uses permits for special events and for commercial filming and still photography, (2) assessed the extent to which this guidance was applied during fiscal year 2003, and (3) determined the extent to which the Park Service implemented the requirement to collect location fees for commercial filming and still photography."
Date: May 6, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Financial Audit: Process for Preparing the Consolidated Financial Statements of the U.S. Government Continues to Need Improvement (open access)

Financial Audit: Process for Preparing the Consolidated Financial Statements of the U.S. Government Continues to Need Improvement

A letter report issued by the Government Accountability Office with an abstract that begins "For the past 8 years, since the first audit of the consolidated financial statements of the U.S. government (CFS), certain material weaknesses in internal control and in selected accounting and financial reporting practices have resulted in conditions that prevented GAO from expressing an opinion on the CFS. Specifically, GAO has reported that the U.S. government did not have adequate systems, controls, and procedures to properly prepare the CFS. In December 2004, GAO reported on weaknesses identified during its fiscal year 2004 audit of the CFS, including weaknesses relating to the Department of the Treasury's (Treasury) preparation of the CFS. The purpose of this report is to (1) discuss the details of the weaknesses relating to Treasury's preparation of the CFS, (2) recommend improvements to address those weaknesses, and (3) provide the status of corrective actions to address the 142 open recommendations GAO previously reported."
Date: May 4, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Critical Infrastructure Protection: Department of Homeland Security Faces Challenges in Fulfilling Cybersecurity Responsibilities (open access)

Critical Infrastructure Protection: Department of Homeland Security Faces Challenges in Fulfilling Cybersecurity Responsibilities

A letter report issued by the Government Accountability Office with an abstract that begins "Increasing computer interconnectivity has revolutionized the way that our government, our nation, and much of the world communicate and conduct business. While the benefits have been enormous, this widespread interconnectivity also poses significant risks to our nation's computer systems and, more importantly, to the critical operations and infrastructures they support. The Homeland Security Act of 2002 and federal policy established DHS as the focal point for coordinating activities to protect the computer systems that support our nation's critical infrastructures. GAO was asked to determine (1) DHS's roles and responsibilities for cyber critical infrastructure protection, (2) the status and adequacy of DHS's efforts to fulfill these responsibilities, and (3) the challenges DHS faces in fulfilling its cybersecurity responsibilities."
Date: May 26, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Aviation Security: Screener Training and Performance Measurement Strengthened, but More Work Remains (open access)

Aviation Security: Screener Training and Performance Measurement Strengthened, but More Work Remains

A letter report issued by the Government Accountability Office with an abstract that begins "The screening of airport passengers and their checked baggage is a critical component in securing our nation's commercial aviation system. Since May 2003, GAO has issued six products related to screener training and performance. This report updates the information presented in the prior products and incorporates results from GAO's survey of 155 Federal Security Directors--the ranking Transportation Security Administration (TSA) authority responsible for the leadership and coordination of TSA security activities at the nation's commercial airports. Specifically, this report addresses (1) actions TSA has taken to enhance training for passenger and checked baggage screeners and screening supervisors, (2) how TSA ensures that screeners complete required training, and (3) actions TSA has taken to measure and enhance screener performance in detecting threat objects."
Date: May 2, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Information Security: Federal Deposit Insurance Corporation Needs to Sustain Progress (open access)

Information Security: Federal Deposit Insurance Corporation Needs to Sustain Progress

A letter report issued by the Government Accountability Office with an abstract that begins "The Federal Deposit Insurance Corporation (FDIC) relies extensively on computerized systems to support its financial and mission-related operations. As part of GAO's audit of the calendar year 2004 financial statements for the three funds administered by FDIC, GAO assessed (1) the progress FDIC has made in correcting or mitigating information system control weaknesses identified in our audits for calendar years 2002 and 2003 and (2) the effectiveness of the corporation's information system general controls."
Date: May 19, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Head Start: Further Development Could Allow Results of New Test to Be Used for Decision Making (open access)

Head Start: Further Development Could Allow Results of New Test to Be Used for Decision Making

A letter report issued by the Government Accountability Office with an abstract that begins "In September 2003, the Head Start Bureau, in the Department of Health and Human Services (HHS) Administration for Children and Families (ACF), implemented the National Reporting System (NRS), the first nationwide skills test of over 400,000 4- and 5-year-old children. The NRS is intended to provide information on how well Head Start grantees are helping children progress. Given the importance of the NRS, this report examines: what information the NRS is designed to provide; how the Head Start Bureau has responded to concerns raised by grantees and experts during the first year of implementation; and whether the NRS provides the Head Start Bureau with quality information."
Date: May 17, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Veterans' Disability Benefits: Claims Processing Problems Persist and Major Performance Improvements May Be Difficult (open access)

Veterans' Disability Benefits: Claims Processing Problems Persist and Major Performance Improvements May Be Difficult

Testimony issued by the Government Accountability Office with an abstract that begins "The Chairman, Committee on Veterans' Affairs, U.S. Senate, asked GAO to testify on the current state of VA's disability claims process and factors that may impede VA's ability to improve performance. For years, the claims process has been the subject of concern and attention within VA and by the Congress and veterans service organizations. Many of their concerns have focused on long waits for decisions, large claims backlogs, and the accuracy of decisions. Our work and recent media reports of significant discrepancies in average disability payments from state to state have also highlighted concerns over the consistency of decision-making within VA. In January 2003, GAO designated federal disability programs, including VA's compensation and pension programs, as a high-risk area because of continuing challenges to improving the timeliness and consistency of its disability decisions, and the need to modernize programs."
Date: May 26, 2005
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Military and Veterans' Benefits: Enhanced Services Could Improve Transition Assistance for Reserves and National Guard (open access)

Military and Veterans' Benefits: Enhanced Services Could Improve Transition Assistance for Reserves and National Guard

A letter report issued by the Government Accountability Office with an abstract that begins "The National Defense Authorization Act for Fiscal Year 2005 mandated that GAO review whether the transition assistance program (TAP) is meeting the needs of service members leaving the military. GAO (1) assessed TAP administration, including program participation, and (2) identified actions agencies are taking to improve TAP and challenges that remain. TAP serves military personnel with at least 180 days of active duty who separate or retire and members of the Reserves and National Guard who are released from active duty, a process termed demobilization. Recently, the Reserves and National Guard have been called to active duty in greater numbers than at any other time since the Korean War."
Date: May 20, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Information Security: Federal Agencies Need to Improve Controls over Wireless Networks (open access)

Information Security: Federal Agencies Need to Improve Controls over Wireless Networks

A letter report issued by the Government Accountability Office with an abstract that begins "The use of wireless networks is becoming increasingly popular. Wireless networks extend the range of traditional wired networks by using radio waves to transmit data to wireless-enabled devices such as laptops. They can offer federal agencies many potential benefits but they are difficult to secure. GAO was asked to study the security of wireless networks operating within federal facilities. This report (1) describes the benefits and challenges associated with securing wireless networks, (2) identifies the controls available to assist federal agencies in securing wireless networks, (3) analyzes the wireless security controls reported by each of the 24 agencies under the Chief Financial Officers (CFO) Act of 1990, and (4) assesses the security of wireless networks at the headquarters of six federal agencies in Washington, D.C."
Date: May 17, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Military Personnel: DOD Comments on GAO's Report on More DOD Actions Needed to Address Servicemembers' Personal Financial Management Issues (open access)

Military Personnel: DOD Comments on GAO's Report on More DOD Actions Needed to Address Servicemembers' Personal Financial Management Issues

Correspondence issued by the Government Accountability Office with an abstract that begins "In response to a Congressional request, we issued a report in April 2005 on the Department of Defense's (DOD) efforts to address personal financial management (PFM) issues encountered by its servicemembers and their families. In that report, we made recommendations to the Secretary of Defense to enhance servicemembers' financial conditions and the effectiveness of DOD's PFM programs and training. On March 17, 2005, we provided a draft of that report to DOD for review and comment. DOD did not provide comments in time to incorporate them in the final GAO report that went to printing on April 22, 2005. To present DOD's comments and provide our perspective on them, this report briefly summarizes our April 2005 report's objectives, results, and recommendations, along with DOD's comments and our evaluation of the comments. We answered three questions in our April 2005 report: (1) To what extent does deployment impact the financial conditions of active duty servicemembers and their families? (2) Does DOD have an oversight framework for evaluating military programs that assist both deployed and non-deployed servicemembers in managing their personal finances? And (3) To what extent are junior enlisted …
Date: May 11, 2005
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Olympic Security: U.S. Support to Athens Games Provides Lessons for Future Olympics (open access)

Olympic Security: U.S. Support to Athens Games Provides Lessons for Future Olympics

A letter report issued by the Government Accountability Office with an abstract that begins "The 2004 Summer Olympics in Athens, Greece, were held against the backdrop of growing concerns about international terrorism. Despite widespread fears of a potential terrorist attack on the Olympics, Greece hosted a safe and secure event with no terrorist incidents. To assist Greece in securing the 2004 Games, U.S. government agencies provided training and other support in the four years leading up to the Games. In addition, the U.S. government provided some security and other assistance to American athletes, spectators, and commercial investors, and expects to continue such support for future Olympics, including the upcoming 2006 Winter Olympics in Turin, Italy. GAO was asked to (1) determine the U.S. approach and coordination efforts for providing security assistance to the 2004 Summer Olympics; (2) examine the roles of U.S. agencies in Athens Olympics security and their financial outlays; and (3) review lessons learned in providing security assistance in support of the Olympics and how they are being incorporated into preparations for future Olympics. The Departments of State, Homeland Security, Defense, and Justice concurred with the report or had no comments."
Date: May 31, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Department of Defense Initiatives on High Energy Lasers Have Been Responsive to Congressional Direction (open access)

Department of Defense Initiatives on High Energy Lasers Have Been Responsive to Congressional Direction

Correspondence issued by the Government Accountability Office with an abstract that begins "Congress directed the Department of Defense (DOD) to prepare a master plan to develop laser technologies for potential weapons applications in the National Defense Authorization Act for Fiscal Year 2000. In response to this legislation, the High Energy Laser (HEL) Executive Review Panel was formed and issued the HEL Master Plan on March 24, 2000. This plan recommended that DOD implement a new management structure for HEL technologies and increase the funding allocated to HELs to achieve a better balance between large demonstration programs and the enabling science and technology projects. Subsequently, in the Floyd D. Spence National Defense Authorization Act of Fiscal Year 2001, Congress directed the Secretary of Defense to implement the management and organizational structure specified in the Master Plan. Congress asked us to review the extent to which DOD has implemented the recommendations of the HEL Master Plan, by assessing (1) whether DOD has achieved more balance between large demonstration projects and the enabling science and technology base projects; (2) whether the DOD funding process focuses on the most critical HEL issues; and (3) what impact the new management structure has had on the …
Date: May 18, 2005
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Financial Audit: Securities and Exchange Commission's Financial Statements for Fiscal Year 2004 (open access)

Financial Audit: Securities and Exchange Commission's Financial Statements for Fiscal Year 2004

A letter report issued by the Government Accountability Office with an abstract that begins "Established in 1934 to enforce the securities laws and protect investors, the Securities and Exchange Commission (SEC) plays an important role in maintaining the integrity of the U.S. securities markets. Pursuant to the Accountability for Tax Dollars Act of 2002, the SEC is required to prepare and submit to Congress and the Office of Management and Budget audited financial statements. GAO agreed, under its audit authority, to perform the initial audit of SEC's financial statements. GAO's audit was done to determine whether, in all material respects, (1) SEC's fiscal year 2004 financial statements were reliable, (2) SEC's management maintained effective internal control over financial reporting and compliance with laws and regulations, and (3) SEC's management complied with applicable laws and regulations."
Date: May 26, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Agriculture Production: USDA's Preparation for Asian Soybean Rust (open access)

Agriculture Production: USDA's Preparation for Asian Soybean Rust

Correspondence issued by the Government Accountability Office with an abstract that begins "In November 2004, Asian Soybean Rust (ASR) was discovered in the United States in Louisiana. In the following weeks, it was found in eight additional southern states. ASR is a harmful fungal disease that has spread throughout many other parts of the world, including Asia, Australia, Africa, and South America. ASR can infect over 90 host plant species, including legumes, such as dry beans, peas, and kudzu, a plant that grows wild primarily in the southern United States. Although the disease has caused significant soybean crop loss and increased production costs in many other countries, ASR arrived in the United States too late in the crop year to have any effect on soybean production in 2004, and scientists were uncertain about how it would survive the winter climates in the United States. However, in February 2005, researchers found that ASR had successfully over-wintered on kudzu in Florida, and it was subsequently detected in Georgia on soybean plants in April 2005. Since environmental factors, such as rainfall, humidity, and temperature, affect both the severity and incidence of ASR, scientists do not know how widespread or damaging the disease will …
Date: May 17, 2005
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Department of Energy: Improved Oversight Could Better Ensure Opportunities for Small Business Subcontracting (open access)

Department of Energy: Improved Oversight Could Better Ensure Opportunities for Small Business Subcontracting

A letter report issued by the Government Accountability Office with an abstract that begins "Federal policy requires that small businesses receive the maximum practicable subcontracting opportunity for providing goods and services to large businesses that contract directly with federal agencies. The Department of Energy (DOE) annually directs almost $20 billion to the 34 "facility management contractors" of which $3.3 billion was redirected to small business subcontractors in fiscal year 2004. DOE negotiates annual small business subcontracting goals with individual contractors and monitors their achievements. GAO was asked to (1) determine the usefulness of the data that DOE uses to monitor subcontracting performance and (2) discuss the actions that DOE has taken to address any problems with the contractors' subcontracting efforts."
Date: May 13, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Federal Emergency Management Agency: Crisis Counseling Grants Awarded to the State of New York after the September 11 Terrorist Attacks (open access)

Federal Emergency Management Agency: Crisis Counseling Grants Awarded to the State of New York after the September 11 Terrorist Attacks

A letter report issued by the Government Accountability Office with an abstract that begins "To help alleviate the psychological distress caused by the September 11, 2001, attacks the Federal Emergency Management Agency (FEMA) awarded the state of New York two grants totaling $154.9 million to provide crisis counseling and public education. Because of questions about whether the program, called Project Liberty, had spent all the funds it received from the federal government, GAO was asked to determine (1) the extent to which the program expended the funds awarded from the federal government, (2) whether the federal government had an effective process in place to determine the amount of funds to provide the program, (3) whether the federal government had adequate financial oversight of the program, and (4) steps taken by the federal government and New York State to assess the program's effectiveness."
Date: May 31, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library