Highway Bridge Program: Clearer Goals and Performance Measures Needed for a More Focused and Sustainable Program (open access)

Highway Bridge Program: Clearer Goals and Performance Measures Needed for a More Focused and Sustainable Program

A letter report issued by the Government Accountability Office with an abstract that begins "The August 1, 2007, collapse of a Minnesota bridge raised nationwide questions about bridge safety and the U.S. Department of Transportation's (DOT) ability to prioritize resources for bridges. The Highway Bridge Program (HBP), the primary source of federal funding for bridges, provided over $4 billion to states in fiscal year 2007. This requested study examines (1) how the HBP addresses bridge conditions, (2) how states use HBP funds and select bridge projects for funding, (3) what data indicate about bridge conditions and the HBP's impact, and (4) the extent to which the HBP aligns with principles GAO developed, based on prior work and federal laws and regulations, for re-examining surface transportation programs. GAO reviewed program documents; analyzed bridge data; and met with transportation officials in states that have high levels of HBP funding and large bridge inventories, including California, Missouri, New York, Pennsylvania, Texas, and Washington."
Date: September 10, 2008
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Medicare Advantage: CMS Assists Beneficiaries Affected by Inappropriate Marketing but Has Limited Data on Scope of Issue (open access)

Medicare Advantage: CMS Assists Beneficiaries Affected by Inappropriate Marketing but Has Limited Data on Scope of Issue

A letter report issued by the Government Accountability Office with an abstract that begins "Members of Congress and state agencies have raised questions about complaints that some Medicare Advantage (MA) organizations and their agents inappropriately marketed their health plans to Medicare beneficiaries. Inappropriate marketing may include activities such as providing inaccurate information about covered benefits and conducting prohibited marketing practices. The Centers for Medicare & Medicaid Services (CMS) is responsible for oversight of MA organizations and their plans. The Government Accountability Office (GAO) was asked to examine (1) the extent to which CMS has taken compliance and enforcement actions, (2) how CMS has helped beneficiaries affected by inappropriate marketing and the problems beneficiaries have encountered, and (3) information CMS has about the extent of inappropriate marketing. To do this work, GAO reviewed relevant laws and policies; analyzed Medicare data on beneficiary complaints, compliance actions and enforcement actions; and interviewed officials from CMS and selected state departments of insurance, state health insurance assistance programs, and MA organizations."
Date: December 17, 2009
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Military Personnel: Financial Cost and Loss of Critical Skills Due to DOD's Homosexual Conduct Policy Cannot Be Completely Estimated (open access)

Military Personnel: Financial Cost and Loss of Critical Skills Due to DOD's Homosexual Conduct Policy Cannot Be Completely Estimated

A letter report issued by the Government Accountability Office with an abstract that begins "From the passage of the homosexual conduct policy statute, in fiscal year 1994, through fiscal year 2003 the military services separated about 9,500 servicemembers for homosexual conduct. This represents about 0.40 percent of the 2.37 million members separated for all reasons during this period. Questions have been raised about the costs of separating servicemembers for homosexual conduct. Also, in the post-September 11th environment, there has been concern about the separation of servicemembers with critical occupations or important foreign language skills in, for example, Arabic. GAO was asked to determine (1) the military services' annual financial costs from fiscal year 1994 through fiscal year 2003 for certain activities associated with administering the Department of Defense's (DOD) policy on homosexual conduct--e.g., the recruitment and training of servicemembers to replace those separated under the homosexual conduct statute--and (2) the extent to which the policy has resulted in the separation of servicemembers with critical occupations and important foreign language skills. GAO provided DOD with a draft of this report for comment, and DOD provided additional information on separations for homosexual conduct compared with other unprogrammed separations."
Date: February 23, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Embassy Construction: Additional Actions Are Needed to Address Contractor Participation (open access)

Embassy Construction: Additional Actions Are Needed to Address Contractor Participation

A letter report issued by the Government Accountability Office with an abstract that begins "To provide safe and secure workplaces for overseas posts, the Department of State (State) has built 64 new embassy compounds (NEC) and other facilities since 1999, has 31 ongoing projects, and plans to build at least 90 more. In 2007, State reported the U.S. contractor pool for building NECs had reached its limit and proposed legislation to amend the criteria to qualify for NEC awards. GAO was asked to examine (1) how contractor participation in the NEC program changed in recent years, (2) the degree to which State assessed the need for and potential outcomes of its proposed amendment, (3) factors contractors consider when deciding to participate in the program, and (4) actions State has taken to address reported declines in contractor participation. GAO examined two indicators of contractor participation; reviewed State documents and proposed legislation; and interviewed State officials and U.S. firms that won NEC awards from 2001-2007."
Date: January 16, 2009
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Posthearing Questions Related to Proposed DOD Human Capital Reform (open access)

Posthearing Questions Related to Proposed DOD Human Capital Reform

Correspondence issued by the General Accounting Office with an abstract that begins "On June 4, 2003, GAO testified before the Senate Committee on Governmental Affairs at a hearing entitled "Transforming the Department of Defense Personnel System: Finding the Right Approach." This letter responds to a request that we provide answers to posthearing questions from Senator George V. Voinovich and Senator Thomas R. Carper concerning the proposed Department of Defense (DOD) Human Capital Reform."
Date: July 3, 2003
Creator: United States. General Accounting Office.
Object Type: Text
System: The UNT Digital Library
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
Military Disability System: Improved Oversight Needed to Ensure Consistent and Timely Outcomes for Reserve and Active Duty Service Members (open access)

Military Disability System: Improved Oversight Needed to Ensure Consistent and Timely Outcomes for Reserve and Active Duty Service Members

A letter report issued by the Government Accountability Office with an abstract that begins "The House Committee on Armed Services report that accompanies the National Defense Authorization Act of fiscal year 2006 directs GAO to review results of the military disability evaluation system. In response to this mandate, GAO determined: (1) how current DOD policies and guidance for disability determinations compare for the Army, Navy, and Air Force, and what policies are specific to reserve component members of the military; (2) what oversight and quality control mechanisms are in place at DOD and these three services of the military to ensure consistent and timely disability decisions for active and reserve component members; and (3) how disability decisions, ratings, and processing times compare for active and reserve component members of the Army, the largest branch of the service, and what factors might explain any differences."
Date: March 31, 2006
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Homeland Security: Department of Justice's Response to Its Congressional Mandate to Assess and Report on Chemical Industry Vulnerabilities (open access)

Homeland Security: Department of Justice's Response to Its Congressional Mandate to Assess and Report on Chemical Industry Vulnerabilities

Correspondence issued by the General Accounting Office with an abstract that begins "Congress passed the Chemical Safety Information, Site Security and Fuels Regulatory Relief Act after a number of testimonies expressing concerns about the vulnerability of chemical facilities to criminal and terrorist attacks. According to the Attorney General's interim report, chemical facilities visited generally had safety and emergency response measures that could mitigate the consequences of a terrorist attack. The report further stated that the level of security at chemical facilities is roughly equivalent to standard security practices found in most industries. The interim report also contains nine preliminary findings that cumulatively address the other required reporting elements--the vulnerability of facilities to criminal and terrorist activity, current industry site security practices, and the security of chemicals being transported. These findings address the extent to which 11 facilities conducted facility security assessments, had the capability to respond to armed attacks, conducted emergency response exercises, conducted routine pre-employment background investigations, had secure process control systems, had secure chemical transportation containers, had adequate security measures over transportation of hazardous chemicals, received meaningful threat information, and had effective facility security systems."
Date: October 10, 2002
Creator: United States. General Accounting Office.
Object Type: Text
System: The UNT Digital Library
Property Management Systems Requirements: Checklist for Reviewing Systems Under the Federal Financial Management Improvement Act (Supersedes GAO-01-554G) (open access)

Property Management Systems Requirements: Checklist for Reviewing Systems Under the Federal Financial Management Improvement Act (Supersedes GAO-01-554G)

Guidance issued by the General Accounting Office with an abstract that begins "This publication supersedes GAO-01-554G, Property Management Systems Requirements: Checklist for Reviewing Systems Under the Federal Financial Management Improvement Act (Exposure Draft), June 2001. The Joint Financial Management Improvement Program's Property Management Systems Requirements assist (1) agencies implement and monitor their property management systems and (2) managers and auditors review agency property management systems to determine if they substantially comply with the Federal Financial Management Improvement Act. This checklist is provided as a tool for use by experienced staff and is one in a series of documents issued by GAO to help agencies improve or maintain effective operations."
Date: December 1, 2001
Creator: United States. General Accounting Office.
Object Type: Text
System: The UNT Digital Library
Mortgage Financing: Level of Annual Premiums That Place a Ceiling on Distributions to FHA Policyholders (open access)

Mortgage Financing: Level of Annual Premiums That Place a Ceiling on Distributions to FHA Policyholders

Correspondence issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO provided information on the: (1) number of borrowers insured by the Mutual Mortgage Insurance Fund who might have been eligible to receive dividends from their mortgage insurance if the Federal Housing Administration (FHA) had been required to pay distributive shares in FY 1999; and (2) amount of annual premiums these individuals paid."
Date: September 8, 2000
Creator: United States. General Accounting Office.
Object Type: Text
System: The UNT Digital Library
Defense Inventory: Opportunities Exist to Improve the Management of DOD's Acquisition Lead Times for Spare Parts (open access)

Defense Inventory: Opportunities Exist to Improve the Management of DOD's Acquisition Lead Times for Spare Parts

A letter report issued by the Government Accountability Office with an abstract that begins "GAO has identified the Department of Defense's (DOD) management of its inventory as a high-risk area since 1990 due to ineffective and inefficient inventory systems and practices. Management of inventory acquisition lead times is important in maintaining cost-effective inventories, budgeting, and having material available when needed, as lead times are DOD's best estimate of when an item will be received. Under the Comptroller General's authority to conduct evaluations on his own initiative, GAO analyzed the extent to which (1) DOD's estimated lead times varied from actual lead times, and (2) current management actions and initiatives have reduced lead times as compared to past years. To address these objectives, GAO computed the difference between the components' actual and estimated lead times, and compared component initiatives to reduce lead times for 1994-2002 to 2002-2005."
Date: March 2, 2007
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Defense Transportation: Opportunities Exist to Enhance the Credibility of the Current and Future Mobility Capabilities Studies (open access)

Defense Transportation: Opportunities Exist to Enhance the Credibility of the Current and Future Mobility Capabilities Studies

Correspondence issued by the Government Accountability Office with an abstract that begins "We are reviewing the processes the Department of Defense (DOD) is using to conduct its Mobility Capabilities Study (MCS). The MCS is to address changes in DOD's transportation force structure and mobility requirements due to changes in threats and certain national security and military strategies. The study results may underpin decisions on future strategic airlift, aerial refueling aircraft, and sealift procurements. The study relies on the use of various models and data inputs to develop and evaluate transportation alternatives, including variations in alternative transportation modes (air, land, sea) and sources (military, civilian, foreign), as well as factors that affect transportation mode and source decisions. The Senate Armed Services Committee directed us to monitor the conduct of the MCS and report on the adequacy and completeness of the report no later than 30 days after DOD completes the study. DOD plans to issue the MCS report during 2005. This letter is intended to bring to the Secretary of Defense's attention preliminary observations on certain aspects of the MCS methodology to permit you to ensure the credibility of this and future studies. In our letter, we address the adequacy of …
Date: September 14, 2005
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Medicare Part B Imaging Services: Rapid Spending Growth and Shift to Physician Offices Indicate Need for CMS to Consider Additional Management Practices (open access)

Medicare Part B Imaging Services: Rapid Spending Growth and Shift to Physician Offices Indicate Need for CMS to Consider Additional Management Practices

A letter report issued by the Government Accountability Office with an abstract that begins "The Centers for Medicare & Medicaid Services (CMS)--an agency within the Department of Health and Human Services (HHS)--and the Congress, through the Deficit Reduction Act of 2005 (DRA), recently acted to constrain spending on imaging services, one of the fastest growing set of services under Medicare Part B, which covers physician and other outpatient services. GAO was asked to provide information to help the Congress evaluate imaging services in Medicare. In this report, GAO provides information on (1) trends in Medicare spending on imaging services from 2000 through 2006, (2) the relationship between spending growth and the provision of imaging services in physicians' offices, and (3) imaging management practices used by private payers that may have lessons for Medicare. To do this work, GAO analyzed Medicare claims data from 2000 through 2006, interviewed private health care plans, and reviewed health services literature."
Date: June 13, 2008
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Food Stamp Program: Data on Assistance for the Elderly (open access)

Food Stamp Program: Data on Assistance for the Elderly

Correspondence issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO provided information on the Food Stamp Program and its state activities to increase older Americans' participation and the number of elderly food stamp participants in each state."
Date: June 28, 2000
Creator: United States. General Accounting Office.
Object Type: Text
System: The UNT Digital Library
Federal Land Management: Observations on a Possible Move of the Forest Service into the Department of the Interior (open access)

Federal Land Management: Observations on a Possible Move of the Forest Service into the Department of the Interior

A letter report issued by the Government Accountability Office with an abstract that begins "Growing ecological challenges ranging from wildland fires to climate change have revived interest in moving the Department of Agriculture's (USDA) Forest Service into the Department of the Interior (Interior). The Forest Service manages almost a quarter of the nation's lands but is the only major land management agency outside Interior. GAO was asked to report on the potential effects of moving the Forest Service into Interior and creating a new bureau equal to Interior's other bureaus, such as the Bureau of Land Management (BLM). GAO was also asked to identify factors that should be considered if such a move were legislated and management practices that could facilitate a move. GAO analyzed five historical proposals to reorganize federal land management agencies; interviewed USDA, Interior, and other officials and outside experts; and studied joint Forest Service- BLM programs to assess efforts to integrate the agencies' work."
Date: February 11, 2009
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
The Nation's Long-Term Fiscal Outlook: January 2007 Update (open access)

The Nation's Long-Term Fiscal Outlook: January 2007 Update

Correspondence issued by the Government Accountability Office with an abstract that begins "Since 1992, GAO has published long-term fiscal simulations of what might happen to federal deficits and debt levels under varying policy assumptions. GAO developed its long-term model in response to a bipartisan request from Members of Congress who were concerned about the long-term effects of fiscal policy. In 1992 GAO said: "The federal budget is structurally unbalanced. This will do increasing damage to the economy and is unsustainable in the long term. Regardless of the approach chosen, prompt and meaningful action is essential. The longer it is delayed, the more painful it will be." These words are as relevant today as when GAO first published them. GAO updates its simulations three times a year as new estimates become available from the Congressional Budget Office's (CBO) Budget and Economic Outlook (January), Social Security and Medicare Trustees Reports (early spring), and CBO's Budget and Economic Outlook: An Update (late summer)."
Date: February 23, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Combating Gangs: Better Coordination and Performance Measurement Would Help Clarify Roles of Federal Agencies and Strengthen Assessment of Efforts (open access)

Combating Gangs: Better Coordination and Performance Measurement Would Help Clarify Roles of Federal Agencies and Strengthen Assessment of Efforts

A letter report issued by the Government Accountability Office with an abstract that begins "The Department of Justice (DOJ) estimates that the United States has about a million gang members. While state and local agencies have primary responsibility for combating gang crime, the federal government has key roles to enforce laws and help fund programs to provide alternatives to gang membership for at-risk youth. GAO was asked to examine federal efforts to combat gang crime. This report addresses (1) the roles of DOJ and the Department of Homeland Security (DHS) in combating gang crime and the extent to which DOJ and DHS agencies coordinate their efforts with each other and state and local agencies; (2) the extent to which DOJ and DHS measure their gang enforcement efforts; and (3) how federal grant funding is used to administer or support activities to reduce gang-related crime. GAO reviewed federal agencies' plans, resources, and measures and interviewed federal, state, and local officials in 15 localities with federally led anti-gang task forces representing varying population sizes and locations."
Date: July 24, 2009
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Federally Chartered Corporation: Review of the Financial Statement Audit Report for the Aviation Hall of Fame for 1999 and 1998 (open access)

Federally Chartered Corporation: Review of the Financial Statement Audit Report for the Aviation Hall of Fame for 1999 and 1998

Correspondence issued by the General Accounting Office with an abstract that begins "GAO reviewed the audit report covering the financial statements of the Aviation Hall of Fame for 1999 and 1998. GAO found no reportable instances of noncompliance with applicable law, and the audit report included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles."
Date: June 26, 2001
Creator: United States. General Accounting Office.
Object Type: Text
System: The UNT Digital Library
Defense Infrastructure: Environmental Cleanup of Former Naval Facilities on Vieques (open access)

Defense Infrastructure: Environmental Cleanup of Former Naval Facilities on Vieques

Correspondence issued by the Government Accountability Office with an abstract that begins "This report responds to Congress's request that GAO determine the status and estimated costs of environmental cleanup on the island of Vieques. For decades, the U.S. Navy conducted ship-to-shore bombing exercises and other live-fire training activities on the island, which is located off the coast of Puerto Rico. The Navy ceased its operations on Vieques in 2003. The Navy has transferred the land to the Municipality of Vieques and the Puerto Rico Conservation Trust for conservation purposes and to the Department of the Interior. Although the land has been transferred, the Navy remains responsible for environmental cleanup. The cleanup is being carried out under the Defense Environmental Restoration Program (DERP) that consists of (1) the Installation Restoration Program, which addresses cleanup of hazardous substances, and (2) the Military Munitions Response Program, which addresses cleanup of munitions."
Date: March 26, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Combating Nuclear Smuggling: DHS's Phase 3 Test Report on Advanced Portal Monitors Does Not Fully Disclose the Limitations of the Test Results (open access)

Combating Nuclear Smuggling: DHS's Phase 3 Test Report on Advanced Portal Monitors Does Not Fully Disclose the Limitations of the Test Results

A letter report issued by the Government Accountability Office with an abstract that begins "The Department of Homeland Security's (DHS) Domestic Nuclear Detection Office (DNDO) is responsible for addressing the threat of nuclear smuggling. Radiation detection portal monitors are part of the U.S. defense against such threats. In 2007, Congress required that funds for new advanced spectroscopic portal (ASP) monitors could not be spent until the Secretary of DHS certified that these machines represented a significant increase in operational effectiveness over currently deployed portal monitors. In addition to other tests, DNDO conducted the Phase 3 tests on ASPs to identify areas in which the ASPs needed improvement. GAO was asked to assess (1) the degree to which the Phase 3 test report accurately depicts the test results and (2) the appropriateness of using the Phase 3 test results to determine whether ASPs represent a significant improvement over current radiation detection equipment. GAO also agreed to provide its observations on special tests conducted by Sandia National Laboratories (SNL)."
Date: September 30, 2008
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Federal Information System Controls Audit Manual (FISCAM) (open access)

Federal Information System Controls Audit Manual (FISCAM)

Guidance issued by the Government Accountability Office with an abstract that begins "FISCAM presents a methodology for performing information system (IS) control audits of federal and other governmental entities in accordance with professional standards. This version supersedes the prior version, Federal Information System Controls Audit Manual: Volume I Financial Statement Audits, AIMD-12.19.6, January 1, 2001. The FISCAM is designed to be used primarily on financial and performance audits and attestation engagements performed in accordance with GAGAS, as presented in Government Auditing Standards (also know as the "Yellow Book"). The FISCAM is consistent with the GAO/PCIE Financial Audit Manual (FAM). Also, FISCAM control activities are consistent with NIST Special Publication 800-53 and all SP800-53 controls have been mapped to the FISCAM. The FISCAM, which is consistent with NIST and other criteria, is organized to facilitate effective and efficient IS control audits. Specifically, the methodology in the FISCAM incorporates the following: (1) A top-down, risk-based approach that considers materiality and significance in determining effective and efficient audit procedures; (2) Evaluation of entitywide controls and their effect on audit risk; (3) Evaluation of general controls and their pervasive impact on business process application controls; (4) Evaluation of security management at all levels (entitywide, …
Date: February 2, 2009
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Federal Motor Carrier Safety Administration: Education and Outreach Programs Target Safety and Consumer Issues, but Gaps in Planning and Evaluation Remain (open access)

Federal Motor Carrier Safety Administration: Education and Outreach Programs Target Safety and Consumer Issues, but Gaps in Planning and Evaluation Remain

A letter report issued by the Government Accountability Office with an abstract that begins "The Federal Motor Carrier Safety Administration (FMCSA) is responsible for improving commercial vehicle safety and uses education and outreach as part of its efforts. The House report accompanying the fiscal year 2005 Department of Transportation (DOT) appropriations bill asked GAO to report on FMCSA's education and outreach programs to the House and Senate Committees on Appropriations. GAO (1) describes FMCSA's education and outreach programs and how they relate to FMCSA's goals (2) identifies the extent to which FMCSA has evaluated its education and outreach programs and (3) describes the extent to which FMCSA's education and outreach programs are effective."
Date: December 19, 2005
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
U.S. Coins: The Federal Reserve Banks Are Fulfilling Coin Demand, but Optimal Inventory Ranges Are Undefined (open access)

U.S. Coins: The Federal Reserve Banks Are Fulfilling Coin Demand, but Optimal Inventory Ranges Are Undefined

A letter report issued by the Government Accountability Office with an abstract that begins "Federal Reserve Banks fulfill the coin demand of the nation's depository institutions--which include commercial banks, savings and loan associations, and credit unions--by ordering new coins from the U.S. Mint and managing coins held in inventory at the Reserve Banks and in coin terminals. Reliably estimating the demand for coins and efficiently managing the inventory of circulated coins is important to ensure that depository institutions have enough coins to meet the public's demand and to avoid unnecessary coin production costs. Since late 2006, rising metal prices have driven the costs of producing pennies and nickels above the face values of the coins. This report addresses (1) the Reserve Banks' process for ordering and distributing coins to the nation's depository institutions and (2) the extent to which this process meets depository institutions' demand for coins. GAO interviewed officials responsible for coin distribution at each of the 12 Reserve Banks and met with representatives of 4 large operators of Federal Reserve coin terminals, 2 banking associations, the U.S. Mint, and the nation's largest coin recycling company. GAO also analyzed Reserve Bank data for fiscal years 1993 through 2007. Federal …
Date: March 21, 2008
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library
Financial Audit: Bureau of the Public Debt's Fiscal Years 2004 and 2003 Schedules of Federal Debt (open access)

Financial Audit: Bureau of the Public Debt's Fiscal Years 2004 and 2003 Schedules of Federal Debt

A letter report issued by the Government Accountability Office with an abstract that begins "GAO is required to audit the consolidated financial statements of the U.S. government. Due to the significance of the federal debt held by the public to the governmentwide financial statements, GAO has also been auditing the Bureau of the Public Debt's (BPD) Schedules of Federal Debt annually. The audit of these schedules is done to determine whether, in all material respects, (1) the schedules prepared are reliable, (2) BPD management maintained effective internal control relevant to the Schedule of Federal Debt, and (3) BPD complies with selected provisions of significant laws related to the Schedule of Federal Debt. Federal debt managed by BPD consists of Treasury securities held by the public and by certain federal government accounts, referred to as intragovernmental debt holdings. The level of debt held by the public reflects how much of the nation's wealth has been absorbed by the federal government to finance prior federal spending in excess of total federal revenues. Intragovernmental debt holdings represent balances of Treasury securities held by federal government accounts, primarily federal trust funds such as Social Security, that typically have an obligation to invest their excess …
Date: November 5, 2004
Creator: United States. Government Accountability Office.
Object Type: Report
System: The UNT Digital Library