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Mutual Funds: SEC Should Modify Proposed Regulations to Address Some Pension Plan Concerns (open access)

Mutual Funds: SEC Should Modify Proposed Regulations to Address Some Pension Plan Concerns

A letter report issued by the Government Accountability Office with an abstract that begins "Mutual fund investments represent more than 20 percent of Americans' pension plan assets. Since late 2003, two abusive trading practices in mutual funds have come to light. Late trading allowed some investors to illegally place orders for funds after the close of trading. Market timing allowed some investors to take advantage of temporary disparities between the value of a fund and the value of its underlying assets despite stated policies against such trading. The Securities and Exchange Commission (SEC) has proposed regulations intended to stop late trading and reduce market timing. We were asked to (1) report on what is known about how these practices have affected the value of retirement savings of pension plan participants, (2) describe the actions taken by SEC and the Department of Labor (DOL) to address these practices, and (3) explain how plan participants may be affected by SEC's proposed regulations."
Date: July 9, 2004
Creator: United States. Government Accountability Office.
System: The UNT Digital Library
Corporate Credit Unions: Competitive Environment May Stress Financial Condition, Posing Challenges for NCUA Oversight (open access)

Corporate Credit Unions: Competitive Environment May Stress Financial Condition, Posing Challenges for NCUA Oversight

A letter report issued by the Government Accountability Office with an abstract that begins "Thousands of credit unions have placed about $55 billion of their excess funds in corporate credit unions (corporates). In a three-tiered system, corporates provide lending, investment, and processing services for their member credit unions. Problems with investments in the past prompted regulatory changes that required higher capitalization and stricter risk management, but allowed for expanded investment authorities. GAO assessed (1) the changes in financial condition of the corporate network and (2) the oversight of corporates by the National Credit Union Administration (NCUA), the federal regulator of credit unions."
Date: September 10, 2004
Creator: United States. Government Accountability Office.
System: The UNT Digital Library
Crop Insurance: USDA Needs to Improve Oversight of Insurance Companies and Develop a Policy to Address Any Future Insolvencies (open access)

Crop Insurance: USDA Needs to Improve Oversight of Insurance Companies and Develop a Policy to Address Any Future Insolvencies

A letter report issued by the General Accounting Office with an abstract that begins "U.S. Department of Agriculture's (USDA) Risk Management Agency (RMA) administers the federal crop insurance program in partnership with insurance companies who share in the risk of loss or gain. In 2002, American Growers Insurance Company (American Growers), at the time, the largest participant in the program, was placed under regulatory control by the state of Nebraska. To ensure that policyholders were protected and that farmers' claims were paid, RMA agreed to fund the dissolution of American Growers. To date, RMA has spent about $40 million. GAO was asked to determine (1) what factors led to the failure of American Growers, (2) whether RMA procedures were adequate to monitor companies' financial condition, and (3) how effectively and efficiently RMA handled the dissolution of American Growers."
Date: June 1, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
Homeland Security: Efforts Under Way to Develop Enterprise Architecture, but Much Work Remains (open access)

Homeland Security: Efforts Under Way to Develop Enterprise Architecture, but Much Work Remains

A letter report issued by the Government Accountability Office with an abstract that begins "The Department of Homeland Security (DHS) is attempting to integrate 22 federal agencies, each specializing in one or more interrelated aspects of homeland security. An enterprise architecture is a key tool for effectively and efficiently accomplishing this. In September 2003, DHS issued an initial version of its architecture. Since 2002, the Office of Management and Budget (OMB) has issued various components of the Federal Enterprise Architecture (FEA), which is intended to be, among other things, a framework for informing the content of agencies' enterprise architectures. GAO was asked to determine whether the initial version of DHS's architecture (1) provides a foundation upon which to build and (2) is aligned with the FEA."
Date: August 6, 2004
Creator: United States. Government Accountability Office.
System: The UNT Digital Library
File Sharing: Selected Universities Report Taking Action to Reduce Copyright Infringement (open access)

File Sharing: Selected Universities Report Taking Action to Reduce Copyright Infringement

A letter report issued by the General Accounting Office with an abstract that begins "The emergence of peer-to-peer file-sharing applications that allow networks to share computer files among millions of users has changed the way copyrighted materials, including digital music, videos, software, and images can be distributed and has led to a dramatic increase in the incidence of copyright infringement (piracy) of these digital materials. These applications enable direct communication between users, allowing users to access each other's files and share digital music, videos, and software. According to a coalition of intellectual property owners in the entertainment industry, an increasing number of students are using the fast Internet connections offered by college and university networks to infringe copyrights by illegally downloading and sharing massive volumes of copyrighted materials on peer-to-peer networks. GAO was asked to describe (1) the views of major universities on the extent of problems experienced with student use of file-sharing applications as well as the actions that the universities are taking to deal with them and (2) the actions that federal enforcement agencies have taken to address the issue of copyright infringement on peer-to-peer networks as well as agency views on any legislative barriers to dealing with …
Date: May 28, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
Operation Iraqi Freedom: Long-standing Problems Hampering Mail Delivery Need to Be Resolved (open access)

Operation Iraqi Freedom: Long-standing Problems Hampering Mail Delivery Need to Be Resolved

A letter report issued by the General Accounting Office with an abstract that begins "Mail is a morale booster for troops fighting overseas and for their families at home. More than 65 million pounds of letters and parcels were delivered to troops serving in Operation Iraqi Freedom in 2003 and problems with prompt and reliable mail delivery surfaced early in the conflict. Congress and the White House forwarded more than 300 inquiries about mail delivery problems to military postal officials. GAO was directed to review mail delivery to troops stationed in the Middle East. In this report, GAO assesses (1) the timeliness of mail delivery to and from troops in Operation Iraqi Freedom, (2) how mail delivery issues and problems during this operation compared with those experienced during Operations Desert Shield/Storm in 1991, and (3) efforts to identify actions to resolve problems in establishing mail operations for future contingencies."
Date: April 14, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
Contract Management: Further Efforts Needed to Sustain VA's Progress in Purchasing Medical Products and Services (open access)

Contract Management: Further Efforts Needed to Sustain VA's Progress in Purchasing Medical Products and Services

A letter report issued by the General Accounting Office with an abstract that begins "The Department of Veterans Affairs (VA) provides healthcare to millions of veterans at VA's medical centers and healthcare facilities across the country. To support veterans, VA manages a Federal Supply Schedule (FSS) program and a national contract program. Both use VA's sizeable buying power to provide VA and other federal agencies discounts on medical products and services. To cover its costs in running the FSS program, VA charges its customers a user fee. Although sales through VA's FSS and national contracts totaled almost $7 billion in fiscal year 2003, concerns have been raised about the efficiency of these contract programs. GAO was asked to determine whether the FSS and national contracts have provided medical products at favorable prices and to identify opportunities to improve purchasing practices and increase savings. GAO was also asked to determine if VA's user fee is sufficient to cover program cost."
Date: June 22, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
Rural Housing Service: Updated Guidance and Additional Monitoring Needed for Rental Assistance Distribution Process (open access)

Rural Housing Service: Updated Guidance and Additional Monitoring Needed for Rental Assistance Distribution Process

A letter report issued by the Government Accountability Office with an abstract that begins "The Rural Housing Service's (RHS) Section 521 rental assistance program provides rental subsidies for about 250,000 rural tenants. Because the program has a waiting list of 80,000 eligible tenants and there are over 1.3 million rural low-income renters eligible for housing subsidies, it is important to effectively distribute resources to extend assistance to as many needy tenants as possible. Therefore, GAO was asked to assess (1) how RHS distributes rental assistance funds to properties and tenants, (2) how RHS monitors the use of rental assistance funds, and (3) whether there are sufficient internal controls in place to ensure that these funds are being effectively administered and used."
Date: September 13, 2004
Creator: United States. Government Accountability Office.
System: The UNT Digital Library
U.S. Attorneys: Performance-Based Initiatives are Evolving (open access)

U.S. Attorneys: Performance-Based Initiatives are Evolving

A letter report issued by the General Accounting Office with an abstract that begins "Within the Department of Justice (DOJ), the 94 U.S. Attorneys Offices represent the United States in criminal and civil matters across the nation. The Government Performance and Results Act (GPRA) of 1993 requires federal agencies, including DOJ, to set goals and objectives, measure performance, and report their accomplishments in order to move toward a performance-based environment. Integral to achieving these goals and objectives is strategic human capital management--the marshalling, managing, and maintaining the human capital needed to maximize government performance and achieve accountability. This report describes (1) how DOJ's strategic goals and objectives apply to U.S. Attorneys, (2) DOJ's plans and efforts to develop performance measures that apply to U.S. Attorneys, (3) the processes DOJ uses for monitoring the performance of U.S. Attorneys Offices, and (4) DOJ efforts to move toward strategic human capital management for U.S. Attorneys Offices."
Date: May 28, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
Department of State: Nonproliferation, Anti-terrorism, Demining, and Related Programs Follow Legal Authority, but Some Activities Need Reassessment (open access)

Department of State: Nonproliferation, Anti-terrorism, Demining, and Related Programs Follow Legal Authority, but Some Activities Need Reassessment

A letter report issued by the General Accounting Office with an abstract that begins "The Department of State requested $415 million to fund programs in the Nonproliferation, Antiterrorism, Demining, and Related Programs (NADR) appropriations account for fiscal year 2005. Interest has been expressed in learning about whether programs are being implemented in accord with the law, and in the extent to which programs use experts hired on a contractual basis. GAO was asked to determine (1) the legal authorizations for the programs and the extent to which programs are implemented in accord with these authorizations and (2) the extent to which program management and implementation use outside experts."
Date: April 30, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
Foreign Regimes' Assets: The United States Faces Challenges in Recovering Assets, but Has Mechanisms That Could Guide Future Efforts (open access)

Foreign Regimes' Assets: The United States Faces Challenges in Recovering Assets, but Has Mechanisms That Could Guide Future Efforts

A letter report issued by the Government Accountability Office with an abstract that begins "For many years, the United States has used economic sanctions, including the freezing of foreign regimes' assets, when such regimes have been determined to be a threat to the nation. In light of recent efforts to "recover"--or target, identify, freeze, and transfer--Iraqi assets, GAO was asked to examine overall U.S. efforts to recover foreign regimes' assets. This report (1) describes the approach the U.S. government uses to recover foreign regimes' assets, (2) examines the challenges the United States faces in recovering foreign regimes' assets, and (3) examines the mechanisms the United States has used to recover Iraqi assets and their applicability to future efforts."
Date: September 14, 2004
Creator: United States. Government Accountability Office.
System: The UNT Digital Library
Energy Employees Compensation: Even with Needed Improvements in Case Processing, Program Structure May Result in Inconsistent Benefit Outcomes (open access)

Energy Employees Compensation: Even with Needed Improvements in Case Processing, Program Structure May Result in Inconsistent Benefit Outcomes

A letter report issued by the General Accounting Office with an abstract that begins "Subtitle D of the Energy Employees Occupational Illness Compensation Program Act of 2000 allows the Department of Energy (Energy) to help its contractors' employees file state workers' compensation claims for illnesses determined by a panel of physicians to be caused by exposure to toxic substances while employed at an Energy facility. This report examines the effectiveness of the benefit program under Subtitle D and focuses on four key areas: (1) the number, status, and characteristics of claims filed with Energy; (2) the extent to which Energy policies and procedures help employees file timely claims for these state benefits; (3) the extent to which there will be a "willing payer" of workers' compensation benefits, that is, an insurer that--by order from or agreement with Energy--will not contest these claims; and (4) a framework that could be used for evaluating possible options for changing the program."
Date: May 28, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
TANF And Child Care Programs: HHS Lacks Adequate Information to Assess Risk and Assist States in Managing Improper Payments (open access)

TANF And Child Care Programs: HHS Lacks Adequate Information to Assess Risk and Assist States in Managing Improper Payments

A letter report issued by the General Accounting Office with an abstract that begins "Minimizing improper payments is important given the dollar magnitude of the Temporary Assistance for Needy Families (TANF) and Child Care and Development Fund (CCDF) programs--about $34 billion in federal and state funds expended annually. These block grants support millions of low-income families with cash assistance, child care, and other services aimed at reducing their dependence on the government. At the federal level, the Department of Health and Human Services (HHS) oversees TANF and CCDF. Within states, many public and private entities administer these programs and share responsibility for financial integrity. GAO looked at (1) what selected states have done to manage improper payments in TANF and CCDF and (2) what HHS has done to assess risk and assist states in managing improper payments in these programs. To address these questions, GAO judgmentally selected states that varied in geographic location and program size. GAO used a survey to collect consistent information from 11 states and visited 5 states."
Date: June 18, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
Intellectual Property: Economic Arrangements Among Small Webcasters and Third Parties and Their Effect on Royalties (open access)

Intellectual Property: Economic Arrangements Among Small Webcasters and Third Parties and Their Effect on Royalties

A letter report issued by the General Accounting Office with an abstract that begins "The emergence of webcasting as a means of transmitting audio and video content over the Internet has led to concerns about copyright protection and the payment of royalties to those who own the recording copyrights. Arriving at an acceptable rate for calculating royalties has been particularly challenging. Under the Small Webcaster Settlement Act of 2002, small commercial webcasters reached an agreement with copyright owners that included the option of paying royalties for the period of October 28, 1998, to December 31, 2004, on the basis of a percentage of their revenues, expenses, a combination of both, or a minimum fee rather than paying the royalty rates set by the Librarian of Congress. During debate on the act, copyright owners raised concerns that small webcasters might have arrangements with other parties, such as advertisers, that could produce revenues or expenses that might not be included in their royalty calculations. In this context, the Congress mandated that GAO, in consultation with the Register of Copyrights, prepare a report on the (1) economic arrangements between small webcasters and third parties and (2) effect of those arrangements on the royalties …
Date: June 1, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
Single-Family Housing: Cost, Benefit, and Compliance Issues Raise Questions about HUD's Discount Sales Program (open access)

Single-Family Housing: Cost, Benefit, and Compliance Issues Raise Questions about HUD's Discount Sales Program

A letter report issued by the General Accounting Office with an abstract that begins "In 2001, the Department of Housing and Urban Development's (HUD) Inspector General reported on serious problems in HUD's Discount Sales Program, under which nonprofit organizations purchase HUD-owned properties at a discount, rehabilitate them, and resell them to low- and moderate-income homebuyers. The objectives of the program are to expand affordable housing opportunities, help revitalize neighborhoods, and reduce HUD's property inventory in a timely, efficient, and cost-effective manner. Although the Inspector General recommended that the agency suspend the program and evaluate its viability, HUD did neither. GAO was asked to assess (1) the costs of the program to HUD, (2) the benefits of the program to homebuyers, and (3) HUD's efforts to monitor participating nonprofits and enforce program requirements."
Date: January 30, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
Data Mining: Federal Efforts Cover a Wide Range of Uses (open access)

Data Mining: Federal Efforts Cover a Wide Range of Uses

A letter report issued by the General Accounting Office with an abstract that begins "Both the government and the private sector are increasingly using "data mining"--that is, the application of database technology and techniques (such as statistical analysis and modeling) to uncover hidden patterns and subtle relationships in data and to infer rules that allow for the prediction of future results. As has been widely reported, many federal data mining efforts involve the use of personal information that is mined from databases maintained by public as well as private sector organizations. GAO was asked to survey data mining systems and activities in federal agencies. Specifically, GAO was asked to identify planned and operational federal data mining efforts and describe their characteristics."
Date: May 4, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
VHA Purchase Cards: Internal Controls Over the Purchase Card Program Need Improvement (open access)

VHA Purchase Cards: Internal Controls Over the Purchase Card Program Need Improvement

A letter report issued by the General Accounting Office with an abstract that begins "The Department of Veterans Affairs Office of Inspector General (OIG) has identified significant vulnerabilities in Veterans Affairs' (VA) use of government purchase cards. In its April 26, 2004 report, the OIG reported instances of fraudulent activity totaling $435,900, and numerous improper and questionable uses of the purchase cards totaling $1.1 million. Given that VHA comprised at least 90 percent of VA's dollar and transaction volume for fiscal year 2002, GAO was asked to determine whether existing controls at VHA were designed to provide reasonable assurance that in the future, improper purchases would be prevented or detected in the normal course of business, purchase card and convenience check expenditures were made in compliance with applicable laws and regulations, and purchases were made for a reasonable cost and a valid government need."
Date: June 7, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
NASA: Lack of Disciplined Cost-Estimating Processes Hinders Effective Program Management (open access)

NASA: Lack of Disciplined Cost-Estimating Processes Hinders Effective Program Management

A letter report issued by the General Accounting Office with an abstract that begins "For more than a decade, GAO has identified the National Aeronautics and Space Administration's (NASA) contract management as a high-risk area--in part because of NASA's inability to collect, maintain, and report the full cost of its programs and projects. Lacking this information, NASA has been challenged to manage its programs and control program costs. The scientific and technical expectations inherent in NASA's mission create even greater challenges--especially if meeting those expectations requires NASA to reallocate funding from existing programs to support proposed new efforts. Because cost growth has been a persistent problem in a number of NASA programs, GAO was asked to examine NASA's cost estimating for selected programs, assess NASA's cost-estimating processes and methodologies, and describe any barriers to improving NASA's cost-estimating processes. To conduct GAO's work, GAO analyzed a total of 27 NASA programs--10 of which GAO reviewed in detail."
Date: May 28, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
Federal-Aid Highways: Trends, Effect on State Spending, and Options for Future Program Design (open access)

Federal-Aid Highways: Trends, Effect on State Spending, and Options for Future Program Design

A letter report issued by the Government Accountability Office with an abstract that begins "In 2004, both houses of Congress approved separate legislation to reauthorize the federal-aid highway program to help meet the Nation's surface transportation needs, enhance mobility, and promote economic growth. Both bills also recognized that the Nation faces significant transportation challenges in the future, and each established a National Commission to assess future revenue sources for the Highway Trust Fund and to consider the roles of the various levels of government and the private sector in meeting future surface transportation financing needs. This report (1) updates information on trends in federal, state, and local capital investment in highways; (2) assesses the influence that federal-aid highway grants have had on state and local highway spending; (3) discusses the implications of these trends for the federal-aid highway program; and (4) discusses options for the federal-aid highway program."
Date: August 31, 2004
Creator: United States. Government Accountability Office.
System: The UNT Digital Library
Agricultural Conservation: USDA Should Improve Its Methods for Estimating Technical Assistance Costs (open access)

Agricultural Conservation: USDA Should Improve Its Methods for Estimating Technical Assistance Costs

A letter report issued by the Government Accountability Office with an abstract that begins "The U.S. Department of Agriculture's (USDA) Natural Resources Conservation Service (NRCS), working with state and local partners, provides landowners with technical assistance for multiple programs to plan and implement conservation measures that protect soil, water, and wildlife. For years, the Congress has been seeking detailed cost information on this assistance as it examined USDA budget requests. In part, because NRCS's financial system was not designed for estimating future budgets, in 1998 NRCS began developing additional cost data and a computer model for estimating future technical assistance costs. GAO was asked to (1) review NRCS's technical assistance cost estimates and (2) identify causes of any differences between the estimates and actual costs ultimately reported by NRCS."
Date: November 30, 2004
Creator: United States. Government Accountability Office.
System: The UNT Digital Library
Consumer Protection: Federal and State Agencies Face Challenges in  Combating Predatory Lending (open access)

Consumer Protection: Federal and State Agencies Face Challenges in Combating Predatory Lending

A chapter report issued by the General Accounting Office with an abstract that begins "While there is no universally accepted definition, the term "predatory lending" is used to characterize a range of practices, including deception, fraud, or manipulation, that a mortgage broker or lender may use to make a loan with terms that are disadvantageous to the borrower. No comprehensive data are available on the extent of these practices, but they appear most likely to occur among subprime mortgages--those made to borrowers with impaired credit or limited incomes. GAO was asked to examine actions taken by federal agencies and states to combat predatory lending; the roles played by the secondary market and by consumer education, mortgage counseling, and loan disclosure requirements; and the impact of predatory lending on the elderly."
Date: January 30, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
Architect of the Capitol: Midyear Status Report on Implementation of Management Review Recommendations (open access)

Architect of the Capitol: Midyear Status Report on Implementation of Management Review Recommendations

A letter report issued by the Government Accountability Office with an abstract that begins "The Conference Report on the Consolidated Appropriations Resolution, 2003, directed GAO to monitor AOC's progress in implementing recommendations contained in GAO's management review of AOC's operations, issued in January 2003. This is the second status report in which GAO examines the actions taken by AOC to implement selected GAO recommendations. Additionally, the Consolidated Appropriations Resolution, 2003, mandated GAO to assess AOC's Chief Operating Officer's (COO) action plan. This report provides that assessment."
Date: August 31, 2004
Creator: United States. Government Accountability Office.
System: The UNT Digital Library
Rural Utilities Service: Opportunities to Better Target Assistance to Rural Areas and Avoid Unnecessary Financial Risk (open access)

Rural Utilities Service: Opportunities to Better Target Assistance to Rural Areas and Avoid Unnecessary Financial Risk

A letter report issued by the General Accounting Office with an abstract that begins "The Agriculture Department's Rural Utilities Service (RUS) makes loans and provides loan guarantees to improve electric service to rural areas. Beyond guaranteeing loans, under a yet-to-be-implemented provision of the 2002 Farm Bill, RUS is also to guarantee the bonds and notes that lenders use to raise funds for making loans for electric and telecommunications services. Fees on these latter guarantees are to be used for funding rural economic development loans and grants. GAO was asked to examine (1) the extent to which RUS' borrowers provide electricity service to nonrural areas and (2) the potential financial risk to taxpayers and amount of loans and grants that the guarantee fees will fund. GAO also identified an alternative for funding rural economic development."
Date: June 18, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library
Assisted Living: Examples of State Efforts to Improve Consumer Protections (open access)

Assisted Living: Examples of State Efforts to Improve Consumer Protections

A letter report issued by the General Accounting Office with an abstract that begins "Assisted living facilities provide help with activities of daily living in a residential setting for individuals who cannot live independently but do not require 24-hour skilled nursing care. In 2002, over 36,000 assisted living facilities served approximately 900,000 residents. The states establish and enforce licensing standards for these institutions. Because states have taken widely differing approaches to regulating and supporting assisted living, they can potentially learn from each other's experiences as they consider changes to their own policies. GAO was asked to review challenges faced by consumers and providers of assisted living and seek out notable state initiatives addressing those challenges in three selected areas: (1) disclosure of full and accurate information to consumers, (2) state assistance to providers to meet licensing requirements, and (3) procedures for addressing residents' complaints. We identified specific examples of individual programs in Florida, Texas, Washington, Georgia, and Massachusetts that highlighted different approaches in these three areas, which other states might wish to consider emulating."
Date: April 30, 2004
Creator: United States. General Accounting Office.
System: The UNT Digital Library