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Commodity Futures Trading Commission: Trends in Energy Derivatives Markets Raise Questions about CFTC's Oversight (open access)

Commodity Futures Trading Commission: Trends in Energy Derivatives Markets Raise Questions about CFTC's Oversight

Testimony issued by the Government Accountability Office with an abstract that begins "Energy prices for crude oil, heating oil, unleaded gasoline, and natural gas have risen substantially since 2002, generating questions about the role derivatives markets have played and the scope of the Commodity Futures Trading Commission's (CFTC) authority. This testimony focuses on (1) trends and patterns in the futures and physical energy markets and their effects on energy prices, (2) the scope of CFTC's regulatory authority, and (3) the effectiveness of CFTC's monitoring and detection of abuses in energy markets. The testimony is based on the GAO report, Commodity Futures Trading Commission: Trends in Energy Derivatives Markets Raise Questions about CFTC's Oversight (GAO-08-25, October 19, 2007). For this work, GAO analyzed futures and large trader data and interviewed market participants, experts, and officials at six federal agencies."
Date: October 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Defense Acquisitions: Success of Advanced SEAL Delivery System Hinges on Establishing a Sound Contracting Strategy and Performance Criteria (open access)

Defense Acquisitions: Success of Advanced SEAL Delivery System Hinges on Establishing a Sound Contracting Strategy and Performance Criteria

A letter report issued by the Government Accountability Office with an abstract that begins "The Advanced SEAL Delivery System (ASDS) is a hybrid combatant submersible providing clandestine delivery and extraction of Navy SEALs and equipment in high-threat environments. The first ASDS has had significant performance issues and has cost, to date, over $885 million. In May 2006, Congress requested that GAO review ASDS. This report examines (1) how the Navy managed ASDS risks through its contracts and (2) the status of major technical issues and program restructuring."
Date: May 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Very Light Jets: Several Factors Could Influence Their Effect on the National Airspace System (open access)

Very Light Jets: Several Factors Could Influence Their Effect on the National Airspace System

A letter report issued by the Government Accountability Office with an abstract that begins "For several years, a number of aviation manufacturers have been designing and testing very light jets, a type of small jet aircraft equipped with advanced technologies and priced below other business jets. Aviation forecasters predict that thousands of very light jets will enter the National Airspace System (NAS) over the next two decades, contributing to the overall growth of the general aviation fleet. While some experts predict that very light jets will be used in ways that are similar to current general aviation aircraft, others predict that they will be used to expand the air taxi market to provide on-demand, point-to-point air transportation. In 2006, the Federal Aviation Administration (FAA) certified the first very light jets for flight. This report identifies (1) current very light jet forecasts and what factors could affect very light jet deliveries, (2) how increasing numbers of very light jets might affect the capacity and safety of the NAS, (3) how FAA is planning to accommodate the entry of very light jets into the NAS, and (4) how very light jets might affect FAA's costs and Airport and Airway Trust Fund revenues. …
Date: August 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Foreign Assistance: Various Challenges Limit the Efficiency and Effectiveness of U.S. Food Aid (open access)

Foreign Assistance: Various Challenges Limit the Efficiency and Effectiveness of U.S. Food Aid

Testimony issued by the Government Accountability Office with an abstract that begins "The United States is the largest global food aid donor, accounting for over half of all food aid supplies to alleviate hunger and support development. Since 2002, Congress has appropriated an average of $2 billion per year for U.S. food aid programs, which delivered an average of 4 million metric tons of food commodities per year. Despite growing demand for food aid, rising business and transportation costs have contributed to a 52 percent decline in average tonnage delivered between 2001 and 2006. These costs represent 65 percent of total emergency food aid, highlighting the need to maximize its efficiency and effectiveness. This testimony is based on a recent GAO report that examined some key challenges to the (1) efficiency of U.S. food aid programs and (2) effective use of U.S. food aid."
Date: May 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Veterans' Employment and Training Service: Labor Could Improve Information on Reemployment Services, Outcomes, and Program Impact (open access)

Veterans' Employment and Training Service: Labor Could Improve Information on Reemployment Services, Outcomes, and Program Impact

A letter report issued by the Government Accountability Office with an abstract that begins "In 2002, Congress enacted the Jobs for Veterans Act (JVA), which modified two Department of Labor (Labor) programs that specifically target veteran job seekers: the Disabled Veterans' Outreach Program (DVOP) and the Local Veterans' Employment Representative (LVER) program. However, questions have been raised about the adequacy of performance information on services to veterans by these and other employment programs. In this report, GAO examined (1) the extent to which DVOP and LVER performance information reflects services and outcomes for veterans; (2) the extent to which performance information on veterans paints a clear picture of their use of one-stop services; and (3) what Labor is doing to improve the quality of performance data and better understand program impact and outcomes for veterans."
Date: May 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Federal Housing Administration: Agency Should Assess the Effects of Proposed Changes to the Manufactured Home Loan Program (open access)

Federal Housing Administration: Agency Should Assess the Effects of Proposed Changes to the Manufactured Home Loan Program

A letter report issued by the Government Accountability Office with an abstract that begins "Pending legislation to the Federal Housing Administration's (FHA) Title I Manufactured Home Loan program would increase loan limits, insure each loan, incorporate stricter underwriting requirements, and set up-front premiums. GAO was asked to review (1) selected characteristics of manufactured housing and the demographics of the owners; (2) federal and state consumer protections for owners of manufactured homes; and (3) the potential benefits and costs of the proposed changes for borrowers and the federal government. In addressing these objectives, GAO analyzed select Census data; researched federal laws and laws in eight states; interviewed local, state, and federal officials; and analyzed various scenarios that might affect Title I program costs."
Date: August 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Defense Infrastructure: Actions Needed to Guide DOD's Efforts to Identify, Prioritize, and Assess Its Critical Infrastructure (open access)

Defense Infrastructure: Actions Needed to Guide DOD's Efforts to Identify, Prioritize, and Assess Its Critical Infrastructure

A letter report issued by the Government Accountability Office with an abstract that begins "The Department of Defense (DOD) relies on a network of DOD and non-DOD infrastructure assets in the United States and abroad so critical that its unavailability could hinder DOD's ability to project, support, and sustain its forces and operations worldwide. DOD established the Defense Critical Infrastructure Program (DCIP) to identify and assure the availability of mission-critical infrastructure. GAO was asked to evaluate the extent to which DOD has (1) developed a comprehensive management plan to implement DCIP and (2) identified, prioritized, and assessed its critical infrastructure. GAO analyzed relevant DCIP documents and guidance and met with officials from more than 30 DOD organizations that have DCIP responsibilities, and with Department of Homeland Security (DHS) officials involved in protecting critical infrastructure."
Date: May 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
State and Local Government Retiree Benefits: Current Status of Benefit Structures, Protections, and Fiscal Outlook for Funding Future Costs (open access)

State and Local Government Retiree Benefits: Current Status of Benefit Structures, Protections, and Fiscal Outlook for Funding Future Costs

A letter report issued by the Government Accountability Office with an abstract that begins "State and local retiree benefits are not subject, for the most part, to federal laws governing private sector retiree benefits. Nevertheless, there is a federal interest in ensuring that all Americans have a secure retirement, as reflected in the special tax treatment provided for both private and public pension funds. In 2004, new government accounting standards were issued, calling for the reporting of liabilities for future retiree health costs. As these standards are implemented and the extent of the related liabilities become known, questions have been raised about whether the public sector can continue to provide the current level of benefits to its retirees. GAO was asked to provide an overview of state and local government retiree benefits, including the following: (1) the types of benefits provided and how they are structured, (2) how retiree benefits are protected and managed, and (3) the fiscal outlook for retiree benefits and what governments are doing to ensure they can meet their future commitments. For this overview, GAO obtained data from various organizations, used our model that simulates the fiscal outlook for the state and local sector, and conducted …
Date: September 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Medicaid Demonstration Waivers: Lack of Opportunity for Public Input during Federal Approval Process Still a Concern (open access)

Medicaid Demonstration Waivers: Lack of Opportunity for Public Input during Federal Approval Process Still a Concern

Correspondence issued by the Government Accountability Office with an abstract that begins "States provide health care coverage to about 60 million low-income individuals through Medicaid, a joint federal and state program established under title XIX of the Social Security Act (the Act). Title XIX of the Act established parameters under which states operate their Medicaid programs, such as requiring states to cover certain services for certain mandatory groups of individuals such as low-income children; pregnant women; and aged, blind, or disabled adults. The Secretary of Health and Human Services (HHS), however, possesses authority to allow states to depart from these requirements under certain conditions. Under section 1115 of the Act, the Secretary may waive certain Medicaid requirements and authorize Medicaid expenditures for experimental, pilot, or demonstration projects that are likely to assist in promoting Medicaid objectives. Medicaid section 1115 demonstration projects vary in scope, from targeted demonstrations, which are limited to specific services and populations, to comprehensive demonstrations, which affect Medicaid populations statewide, cover a broad range of services, and account for the majority of a state's Medicaid expenditures. Since 1982, the Secretary has approved comprehensive demonstration projects in a number of states, including Arizona, Florida, Hawaii, Oregon, Tennessee, and …
Date: July 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Terrorist Watch List Screening: Recommendations to Enhance Management Oversight, Reduce Potential Screening Vulnerabilities, and Expand Use of the List (open access)

Terrorist Watch List Screening: Recommendations to Enhance Management Oversight, Reduce Potential Screening Vulnerabilities, and Expand Use of the List

Testimony issued by the Government Accountability Office with an abstract that begins "The Federal Bureau of Investigation's (FBI) Terrorist Screening Center (TSC) maintains a consolidated watch list of known or appropriately suspected terrorists and sends records from the list to agencies to support terrorism-related screening. This testimony discusses (1) standards for including individuals on the list, (2) the outcomes of encounters with individuals on the list, (3) potential vulnerabilities in screening processes and efforts to address them, and (4) actions taken to promote effective terrorism-related screening. This statement is based on GAO's report (GAO-08-110). To accomplish the objectives, GAO reviewed documentation obtained from and interviewed officials at TSC, the FBI, the National Counterterrorism Center, the Department of Homeland Security, and other agencies that perform terrorism-related screening."
Date: October 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Managerial Cost Accounting Practices at the Department of the Interior (open access)

Managerial Cost Accounting Practices at the Department of the Interior

Correspondence issued by the Government Accountability Office with an abstract that begins "Authoritative bodies have promulgated laws, accounting standards, information system requirements, and related guidance emphasizing the need for accurate and reliable cost information in the federal government. For example, the Chief Financial Officers (CFO) Act of 1990 contains several provisions related to managerial cost accounting (MCA), one of which provides that an agency's CFO should develop and maintain an integrated accounting and financial management system that provides for the development and reporting of cost information. Statement of Federal Financial Accounting Standards (SFFAS) No. 4, Managerial Cost Accounting Concepts and Standards for the Federal Government, and the Joint Financial Management Improvement Program's (JFMIP) Framework for Federal Financial Management Systems established accounting standards and system requirements for MCA information at federal agencies. In addition, the Federal Financial Management Improvement Act of 1996 required, among other things, that CFO Act agencies' systems comply substantially with federal accounting standards and federal financial management systems requirements. In light of the provision related to MCA information in federal agencies, we were asked to review the status of MCA in 10 of the largest civilian agencies. Our objectives were to determine how (1) federal agencies generate …
Date: May 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Homeland Security: Progress Has Been Made to Address the Vulnerabilities Exposed by 9/11, but Continued Federal Action Is Needed to Further Mitigate Security Risks (open access)

Homeland Security: Progress Has Been Made to Address the Vulnerabilities Exposed by 9/11, but Continued Federal Action Is Needed to Further Mitigate Security Risks

A letter report issued by the Government Accountability Office with an abstract that begins "Five years after the terrorist attacks of September 11, 2001, GAO is taking stock of key efforts by the President, Congress, federal agencies, and the 9/11 Commission to strengthen or enhance critical layers of defense in aviation and border security that were directly exploited by the 19 terrorist hijackers. Specifically, the report discusses how: (1) commercial aviation security has been enhanced; (2) visa-related policies and programs have evolved to help screen out potential terrorists; (3) federal border security initiatives have evolved to reduce the likelihood of terrorists entering the country through legal checkpoints; and (4) the Department of Homeland Security (DHS) and other agencies are addressing several major post-9/11 strategic challenges. The report reflects conclusions and recommendations from a body of work issued before and after 9/11 by GAO, the Inspectors General of DHS, State, and Justice, the 9/11 Commission, and others. It is not a comprehensive assessment of all federal initiatives taken or planned in response to 9/11. GAO is not making any new recommendations at this time since over 75 prior recommendations on aviation security, the Visa Waiver Program, and U.S. Visitor and Immigrant …
Date: January 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Federal User Fees: Key Aspects of International Air Passenger Inspection Fees Should Be Addressed Regardless of Whether Fees Are Consolidated (open access)

Federal User Fees: Key Aspects of International Air Passenger Inspection Fees Should Be Addressed Regardless of Whether Fees Are Consolidated

A letter report issued by the Government Accountability Office with an abstract that begins "International air passengers arriving in the United States are subject to an inspection to ensure they possess legal entry and immigration documents and do not bring in contraband, such as illegal drugs, counterfeit goods, or harmful pests and prohibited agriculture products. With the creation of the Department of Homeland Security (DHS) in 2003, the customs, immigration, and agriculture inspections activities were integrated into one program led by DHS's office of Customs and Border Protection (CBP). However, the three fees--whose collections totaled about $1 billion in fiscal year 2006--linked to these inspections remain statutorily distinct and are coadministered by CBP, Immigration and Customs Enforcement (ICE), both within DHS, and the Department of Agriculture's Animal Plant Health Inspection Service (APHIS). GAO was asked to examine how the fees are set, collected, and distributed, and the benefits and challenges of this process to agencies and stakeholders, including implications of consolidating these fees under the authority of DHS."
Date: September 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Measuring Our Nation's Natural Resources and Environmental Sustainability: Highlights of a Forum Jointly Convened by the Comptroller General of the United States and the National Academy of Science (open access)

Measuring Our Nation's Natural Resources and Environmental Sustainability: Highlights of a Forum Jointly Convened by the Comptroller General of the United States and the National Academy of Science

Other written product issued by the Government Accountability Office with an abstract that begins "One of the greatest challenges facing the United States in the 21st century is sustaining our natural resources and safeguarding our environmental assets for future generations while promoting economic growth and maintaining our quality of life. To manage natural resources effectively and efficiently, policymakers need information and methods to analyze the dynamic interplay between the economy and the environment. Enhancing the information to make sound decisions can be facilitated by developing national environmental accounts. These accounts provide a framework for organizing information on the status, use, and value of natural resources and environmental assets, as well as on expenditures on environmental protection and resource management. While many countries have developed and are using environmental accounts, the United States lags behind. GAO and the National Academy of Sciences (NAS) convened this forum to discuss developing accounts in the United States. Participants included U.S. federal agency officials and national and international statistical, energy, environment, and natural resource experts. Comments expressed do not necessarily represent the views of any one participant or the organizations that these participants represent, including GAO and NAS."
Date: October 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Federal Real Property: An Update on High-Risk Issues (open access)

Federal Real Property: An Update on High-Risk Issues

Testimony issued by the Government Accountability Office with an abstract that begins "In January 2003, GAO designated federal real property as a high-risk area due to long-standing problems with excess and underutilized property, deteriorating facilities, unreliable real property data, and costly space challenges. Federal agencies were also facing many challenges protecting their facilities due to the threat of terrorism. This testimony is based largely on GAO's April 2007 report on real property high-risk issues (GAO-07-349). The objectives of that report were to determine (1) what progress the administration and major real property-holding agencies had made in strategically managing real property and addressing long-standing problems and (2) what problems and obstacles, if any, remained to be addressed."
Date: May 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Secure Border Initiative: Observations on Selected Aspects of SBInet Program Implementation (open access)

Secure Border Initiative: Observations on Selected Aspects of SBInet Program Implementation

Testimony issued by the Government Accountability Office with an abstract that begins "In November 2005, the Department of Homeland Security (DHS) established the Secure Border Initiative (SBI), a multiyear, multibillion dollar program to secure U.S. borders. One element of SBI is SBInet--the U.S. Customs and Border Protection (CBP) program responsible for developing a comprehensive border protection system through a mix of security infrastructure (e.g., fencing), and surveillance and communication technologies (e.g., radars, sensors, cameras, and satellite phones). The House Committee on Homeland Security asked GAO to monitor DHS progress in implementing the SBInet program. This testimony provides GAO's observations on (1) SBInet technology implementation; (2) SBInet infrastructure implementation; (3) the extent to which CBP has determined the impact of SBInet technology and infrastructure on its workforce needs and operating procedures; and (4) how the CBP SBI Program Management Office (PMO) has defined its human capital goals and the progress it has made to achieve these goals. GAO's observations are based on analysis of DHS documentation, such as program schedules, contracts, status, and reports. GAO also conducted interviews with DHS officials and contractors, and visits to sites in the southwest border where SBInet deployment is underway. GAO performed the work from …
Date: October 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Poverty In America: Consequences for Individuals and the Economy (open access)

Poverty In America: Consequences for Individuals and the Economy

Testimony issued by the Government Accountability Office with an abstract that begins "In 2005, 37 million people, approximately 13 percent of the total population, lived below the poverty line, as defined by the Census Bureau. Poverty imposes costs on the nation in terms of both programmatic outlays and productivity losses that can affect the economy as a whole. To better understand the potential range of effects of poverty, GAO was asked to examine (1) what the economic research tells us about the relationship between poverty and adverse social conditions, such as poor health outcomes, crime, and labor force attachment, and (2) what links economic research has found between poverty and economic growth. To answer these questions, GAO reviewed the economic literature by academic experts, think tanks, and government agencies, and reviewed additional literature by searching various databases for peer-reviewed economic journals, specialty journals, and books. We also provided our draft report for review by experts on this topic."
Date: January 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Compact of Free Association: Implementation Activities Have Progressed, but the Marshall Islands Faces Challenges to Achieving Long-Term Compact Goals (open access)

Compact of Free Association: Implementation Activities Have Progressed, but the Marshall Islands Faces Challenges to Achieving Long-Term Compact Goals

Testimony issued by the Government Accountability Office with an abstract that begins "From 1987 through 2003, the United States provided more than $2 billion in economic assistance to the Federated States of Micronesia (FSM) and the RMI under a Compact of Free Association; approximately $579 million of this economic assistance went to the RMI. In 2003, the U.S. government approved an amended compact with the RMI that provides an additional 20 years of assistance, totaling about $1.5 billion from 2004 through 2023. The Department of the Interior's Office of Insular Affairs (OIA) is responsible for administering and monitoring this U.S. assistance. The amended compact with the RMI identifies the additional 20 years of grant assistance as intended to assist the RMI government in its efforts to promote the economic advancement and budgetary self-reliance of its people. The assistance is provided in the form of annually decreasing grants that prioritize health and education, paired with annually increasing contributions to trust funds intended as a source of revenue for the country after the grants end in 2023. The amended compact also contains several new funding and accountability provisions that strengthen reporting and bilateral interaction. These provisions include requiring the establishment of a …
Date: July 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Capitol Visitor Center: Update on Status of Project's Schedule and Cost as of April 17, 2007 (open access)

Capitol Visitor Center: Update on Status of Project's Schedule and Cost as of April 17, 2007

Testimony issued by the Government Accountability Office with an abstract that begins "The purpose of this testimony is to assist the Committees in monitoring progress on the Capitol Visitor Center (CVC) project. This testimony will focus on (1) the Architect of the Capitol's (AOC) construction progress since the last CVC hearing on March 13, 2007; and (2) the project's expected cost at completion and funding status. GAO's remarks are based on our review of schedules and financial reports for the CVC project and related records maintained by AOC and its construction management contractor, Gilbane Building Company; observations on the progress of work at the CVC construction site; and discussions with the CVC team (AOC and its major CVC contractors), AOC's Chief Fire Marshal, and representatives from the U.S. Capitol Police."
Date: April 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Department of Energy: Observations on Actions to Implement the New Loan Guarantee Program for Innovative Technologies (open access)

Department of Energy: Observations on Actions to Implement the New Loan Guarantee Program for Innovative Technologies

Testimony issued by the Government Accountability Office with an abstract that begins "The Energy Policy Act of 2005 (EPAct 05) authorized the Department of Energy (DOE) to establish a loan guarantee program (LGP) for projects intended to, decrease air pollutants or man-made greenhouse gases, employ new or significantly better technologies, and have a reasonable prospect of repayment. The Federal Credit Reform Act requires appropriated budget authority for LGP costs before loans can be made. In 2006, DOE solicited preapplications to the LGP, stating it intended to issue up to $2 billion in guarantees. It also issued guidelines for these proposals, stating that borrowers would ultimately pay for all costs, but funding was authorized. This testimony is based on GAO's February 2007 report (Department of Energy: Key Steps Needed to Help Ensure the Success of the New Loan Guarantee Program, GAO-07-339R) and its April 20, 2007 legal opinion (B-308715). GAO discusses the sources and use of funds for the LGP in fiscal years 2006 and 2007; DOE's authority to implement the LGP and to fund the program before Congress had appropriated funding; extent to which the LGP could result in a financial risk to the taxpayer; and steps DOE has taken …
Date: April 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Aviation and the Environment: Impact of Aviation Noise on Communities Presents Challenges for Airport Operations and Future Growth of the National Airspace System (open access)

Aviation and the Environment: Impact of Aviation Noise on Communities Presents Challenges for Airport Operations and Future Growth of the National Airspace System

Testimony issued by the Government Accountability Office with an abstract that begins "To address projected increases in air traffic and current problems with aviation congestion and delays, the Joint Planning and Development Office (JPDO), an interagency organization within the Federal Aviation Administration (FAA), is working to plan and implement a new air traffic management system, known as the Next Generation Air Transportation System (NextGen). This effort involves implementing new technologies and air traffic control procedures, airspace redesign, and infrastructure developments, including new or expanded runways and airports. Community opposition is, however, a major challenge, largely because of concerns about aviation noise. As a result, according to JPDO, aviation noise will be a primary constraint on NextGen unless its effects can be managed and mitigated. GAO's requested testimony addresses (1) the key factors that affect communities' level of exposure to aviation noise, (2) the status of efforts to address the impact of aviation noise, and (3) major challenges and next steps for reducing and mitigating the effects of aviation noise. The testimony is based on prior GAO work (including a 2000 survey of the nation's 50 largest airports), updated with reviews of recent literature, FAA data and forecasts, and interviews with …
Date: October 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Homeland Security: DHS Privacy Office Has Made Progress but Faces Continuing Challenges (open access)

Homeland Security: DHS Privacy Office Has Made Progress but Faces Continuing Challenges

Testimony issued by the Government Accountability Office with an abstract that begins "The Department of Homeland Security (DHS) Privacy Office was established with the appointment of the first Chief Privacy Officer in April 2003, as required by the Homeland Security Act of 2002. The Privacy Office's major responsibilities include: (1) reviewing and approving privacy impact assessments (PIA)--analyses of how personal information is managed in a federal system, (2) integrating privacy considerations into DHS decision making and ensuring compliance with the Privacy Act of 1974, and (3) preparing and issuing annual reports and reports on key privacy concerns. GAO was asked to testify on its recent report examining progress made by the DHS Privacy Office in carrying out its statutory responsibilities. GAO compared statutory requirements with Privacy Office processes, documents, and activities."
Date: July 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Tax Compliance: Thousands of Organizations Exempt from Federal Income Tax Owe Nearly $1 Billion in Payroll and Other Taxes (open access)

Tax Compliance: Thousands of Organizations Exempt from Federal Income Tax Owe Nearly $1 Billion in Payroll and Other Taxes

Testimony issued by the Government Accountability Office with an abstract that begins "As of September 2006, nearly 1.8 million entities were recognized as tax exempt organizations by the Internal Revenue Service (IRS). As such, they do not have to pay federal income taxes. Exempt organizations are still required to remit amounts withheld from employees' wages for federal income tax, Social Security and Medicare, as well as other taxes. Previous GAO work identified numerous government contractors, Medicare providers, and charities participating in the Combined Federal Campaign (CFC) with billions in unpaid federal taxes. Today's testimony, based on a report that we are releasing today, summarizes the results of work we performed at the request of Representative Ramstad, Ranking Member of the Subcomitte on Oversight, Committee on Ways and Means, to audit exempt organizations. Specifically, this testimony covers whether and to what extent (1) exempt organizations have unpaid federal taxes, including payroll taxes; (2) selected case study organizations and their executives are involved in abusive or potentially criminal activity; and (3) exempt organizations with unpaid federal taxes received direct grants from certain federal agencies. GAO reviewed unpaid taxes and exempt organization data from IRS and selected 25 case studies for audit and …
Date: July 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Private Pensions: 401(k) Plan Participants and Sponsors Need Better Information on Fees (open access)

Private Pensions: 401(k) Plan Participants and Sponsors Need Better Information on Fees

Testimony issued by the Government Accountability Office with an abstract that begins "According to Labor's most recent data, there are an estimated 44 million active participants in 401(k) plans. As participants accrue earnings on their investments, they also pay a number of fees, associated with 401(k) plans. Over the course of the employee's career, fees may significantly decrease retirement account balances. For plan sponsors, understanding the fees they are being charged helps fulfill their fiduciary responsibility to act in the best interest of plan participants. GAO's prior work on 401(k) fees found that fee disclosures are limited and do not allow an easy comparison of investment options. GAO previously made recommendations to both Congress and Labor on ways to improve the disclosure of fee information to both plan participants and sponsors. Both Labor and Congress now have efforts under way to ensure that both participants and sponsors receive the necessary fee information to make informed decisions. These efforts on the subject have generated significant debate. This testimony provides information about the way fee information could be disclosed to benefit 401(k) participants and sponsors, focusing on 1) the information on fees that could be most useful for plan participants and plan …
Date: October 24, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library