Executive Office of the President (41 - 50 of 3,419 items)
DATA ACT: Improvements Needed in Reviewing Agency Implementation Plans and Monitoring Progress
GAO-16-698: Published: Jul 29, 2016. Publicly Released: Jul 29, 2016.
The Office of Management and Budget (OMB) and the Department of the Treasury (Treasury) have not designed and implemented controls or fully documented processes related to the review and use of agency implementation plans for the Digital Accountability and Transparency Act of 2014 (DATA Act). These controls and processes are to be used for reviewing agencies' implementation plans and monitoring ag...
Mortgage Servicing: Community Lenders Remain Active under New Rules, but CFPB Needs More Complete Plans for Reviewing Rules
GAO-16-448: Published: Jun 23, 2016. Publicly Released: Jul 25, 2016.
Community banks and credit unions (community lenders) remained active in servicing mortgage loans under the Consumer Financial Protection Bureau's (CFPB) new mortgage-servicing rules. Among other things, these rules are intended to provide more information to consumers about their loan obligations. The share of mortgages serviced by community lenders in 2015—about 13 percent—remained small com...
Federal Research Grants: Opportunities Remain for Agencies to Streamline Administrative Requirements
GAO-16-573: Published: Jun 22, 2016. Publicly Released: Jul 22, 2016.
Administrative requirements for federal research grants include (1) Office of Management and Budget (OMB) government-wide grant requirements for protecting against waste, fraud, and abuse of funds and (2) agency-specific requirements generally for promoting the quality and effectiveness of federally funded research. For example, OMB requires grantees to maintain records sufficient to detail the hi...
Federal Travel: Opportunities Exist to Improve Data and Information Sharing
GAO-16-657: Published: Jul 21, 2016. Publicly Released: Jul 21, 2016.
The Departments of Agriculture, Defense, Homeland Security, Justice, State, and Veterans Affairs, the six federal agencies with the largest travel spending in fiscal year 2015, pursued a variety of cost-saving efforts that generally aligned with regulations and guidance issued in either Federal Travel Regulation (FTR) amendments or General Services Administration (GSA) travel bulletins from fiscal...
Credit Programs: Key Agencies Should Better Document Procedures for Estimating Subsidy Costs
GAO-16-269: Published: Jul 13, 2016. Publicly Released: Jul 13, 2016.
The Federal Credit Reform Act of 1990 requires agencies to estimate the cost to the government of extending or guaranteeing credit. This cost, referred to as subsidy cost, equals the net present value of estimated cash flows from the government (e.g., loan disbursements and claim payments to lenders) minus estimated cash flows to the government (e.g., loan repayments, interest payments, fees, and...
Management Report: Improvements Needed in Controls over the Processes Used to Prepare the U.S. Consolidated Financial Statements
GAO-16-621: Published: Jul 13, 2016. Publicly Released: Jul 13, 2016.
During its audit of the fiscal year 2015 consolidated financial statements of the U.S. government (CFS), GAO identified control deficiencies in the Department of the Treasury's (Treasury) and the Office of Management and Budget's (OMB) processes used to prepare the CFS. These control deficiencies contributed to material weaknesses in internal control that involve the federal government's inability...
Improper Payments: CFO Act Agencies Need to Improve Efforts to Address Compliance Issues
GAO-16-554: Published: Jun 30, 2016. Publicly Released: Jul 11, 2016.
For fiscal year 2014, 15 of the 24 Chief Financial Officers Act (CFO Act) agency inspectors general (IG) determined that their agencies did not comply with criteria in the Improper Payments Elimination and Recovery Act of 2010 (IPERA). This is the largest number of CFO Act agencies reported as noncompliant under IPERA since the requirement for IGs to report on their agencies' compliance was implem...
Tax Expenditures: Opportunities Exist to Use Budgeting and Agency Performance Processes to Increase Oversight
GAO-16-622: Published: Jul 7, 2016. Publicly Released: Jul 7, 2016.
Federal budget formulation processes include fewer controls and reviews, and provide less information on tax expenditures—which represented an estimated $1.23 trillion in forgone revenues in fiscal year 2015—than for discretionary or mandatory spending. For example, in the President’s budget, tax expenditure revenue loss estimates are presented separately from related spending, making their...
Federal Real Property: Actions Needed to Enhance Information on and Coordination among Federal Entities with Leasing Authority
GAO-16-648: Published: Jul 6, 2016. Publicly Released: Jul 6, 2016.
There is no comprehensive list of federal entities with independent leasing authority. The Federal Real Property Council (FRPC), chaired by the Office of Management and Budget (OMB), was established in 2004 through executive order to coordinate and share leading practices in real property management among federal agencies covered by the Chief Financial Officers Act of 1990. The General Services Ad...
Federal Real Property: Leases with Purchase Options Are Infrequently Used but May Provide Benefits
GAO-16-536R: Published: Jun 21, 2016. Publicly Released: Jul 6, 2016.
In the early 1990s, scorekeeping rules on how federal agencies are to budget for leasing public buildings were adopted to ensure Congress and the General Services Administration (GSA) more clearly evaluated the full costs of acquiring a building at the time such decisions were made. These rules affected the treatment of lease-purchases—which include leases having a “discounted” purchase opti...