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| Name: |
Barneget
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| Subject: |
And the Left agrees with me...........
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Date:
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12/28/2010 10:11:29 PM
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Accounting Today reports that an agency of the central gummint (The U.S. Government Accountability Office) finally published conclusions long obvious to producers, and maybe even parasites with a tilt toward reality. Of course, this news took a back seat to the USA/Gallup popularity contests dominating the front pages. With that qualifier, this will be "breaking news" for GF, some DoD retirees, and the occasional heavily medicated metro ATL architect. Can't wait to hear how central planning and execution is so beneficial considering that roughly 9% of total dollars expended are unaccounted for among just 3 agencies. My thoughts are if they can't account for it, they don't need it. The leaders of our unelected bureaucracy should immediately implement the following two step process --
1) Slash the responsible department managers, then slash the unaccounted for dollars from the departments budget.
2) Repeat as necessary
I just reflected on a past reply by a fed retiree telling me again how beneficial it is for a small business owner to fill out extra forms for the feds, as it could beneficially provide the business owner some needed insight. I'm guessing that working all that time in those granite buildings helps those folks feel pretty good chunking rocks at the unwashed masses generating revenue to local, state, and federal governments.
GAO Sees Problems in Government’s Financial Management
Washington, D.C. (December 27, 2010)
By Accounting Today Staff
The U.S. Government Accountability Office said it could not render an opinion on the 2010 consolidated financial statements of the federal government, because of widespread material internal control weaknesses, significant uncertainties, and other limitations.
Gene Dodaro
“Even though significant progress has been made since the enactment of key financial management reforms in the 1990s, our report on the U.S. government's consolidated financial statement illustrates that much work remains to be done to improve federal financial management,” Acting Comptroller General Gene Dodaro said in a statement. “Shortcomings in three areas again prevented us from expressing an opinion on the accrual-based financial statements.”
The main obstacles to a GAO opinion were: (1) serious financial management problems at the Department of Defense that made its financial statements unauditable, (2) the federal government’s inability to adequately account for and reconcile intragovernmental activity and balances between federal agencies, and (3) the federal government’s ineffective process for preparing the consolidated financial statements.
In addition, the GAO said last week it was unable to render an opinion on the 2010 Statement of Social Insurance because of significant uncertainties, primarily related to the achievement of projected reductions in Medicare cost growth. The consolidated financial statements discuss these uncertainties, which relate to reductions in physician payment rates and to productivity improvements, and provide an illustrative alternative projection to illustrate the uncertainties.
Dodaro also cited material weaknesses involving an estimated $125.4 billion in improper payments, information security across government, and tax collection activities. He noted that three major agencies — the DOD, the Department of Homeland Security, and the Department of Labor — did not get clean opinions. Nineteen of 24 major agencies did get clean opinions on all their statements.
“Given the federal government’s fiscal challenges, it’s imperative that Congress, the administration, and federal managers have reliable, useful, and timely financial and performance information,” Dodaro said. “Improved accuracy and transparency in financial reporting are urgently needed.”
URL: Truth hurts
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| Name: |
MartiniMan
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Did you see the WaPo article on Obamacare?
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Date:
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12/28/2010 10:16:02 PM
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The looney left actually agreeing that Obamacare is a disaster. Funny thing, it is hidden on their website so the libtard that are never willing to pay for anything and haven't read anything more complicated than a comic book will never see it.
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| Name: |
Barneget
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| Subject: |
Did you see the WaPo article on Obamacare?
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Date:
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12/28/2010 10:21:01 PM
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They linked it on RCP, but can't find it now.
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| Name: |
Talullahhound
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And the Left agrees with me...........
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Date:
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12/29/2010 7:09:31 AM
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It's clear to me that you don't understand what this is really saying. It doesn't say what you think it says.
"Material weakness" refers to process examination and certification of a system of checks and balances. It requires you to certify that you have adequate controls in place on all of your critical processes, and then to rate yourself on your controls and how well it is working (Red, green,amber) So, for example, if you rated your processes for interdepartmental transfers of funds an "amber", then you would be required to say what you are doing to get to green. So if you rate yourself "amber" you can't certify with absolute certainty that your processes are perfect. This is not on an individual level, but on a component level that feeds into the departmental level.
Just on the surface, given the number of financial transactions that would take place in the course of one year in the process of running the Department of Defense, it does not surprise me that they would be able to certify with absolute certainty that their reports are correct, and that the General Accounting Office would be able to audit every process. Just the interagency and interdepartment transfers would be staggering.
Remember they are referring to the Department on the macro level, not on the micro level.
What this article is really referring to is the inherent deficiencies of the Material Weakness program.
I'm not making excuses here on behalf of the government. I've never been a fan of the Material Weakness program.
I'd rather see the government spend time and money on standardizing financial, accounting and automation programs to make tracking and certifying this stuff actually possible.
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