{
  "id": "RL31965",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "RL31965",
  "active": false,
  "source": "EveryCRSReport.com",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 101646,
      "date": "2003-06-17",
      "retrieved": "2016-04-08T14:43:16.957544",
      "title": "Financial Management in the Federal Government: Efforts to Improve Performance",
      "summary": "This report provides an overview of efforts to reform and improve financial management in the\nfederal government in the last 25 years. The Federal Managers Financial Integrity Act of 1982,\ngenerally regarded as the first of these efforts, was intended to strengthen internal controls and\naccounting systems. The Chief Financial Officers Act of 1990 followed and created a new leadership\nstructure for financial management, including two new positions in the Office of Management and\nBudget and 24 chief financial officer (CFO) and deputy CFO positions in the major executive\ndepartments and agencies. Other provisions in the CFO Act as originally enacted addressed\nimprovement of financial management systems, requirements for audited financial statements and\nmanagement reporting, and changes in audits and reporting requirements for government\ncorporations.\n  Amendments to the CFO Act have extended its original purview. In 1993 the Government\nPerformance and Results Act built upon agency financial information mandated by the CFO Act by\nstipulating new performance measurement requirements. Provisions in the Federal Financial\nManagement Act of 1994 substantially extended the requirements in the CFO Act for audited\nfinancial statements. In addition to requiring annual audited financial statements from the CFO Act\nagencies, the 1994 law required preparation each year of consolidated government-wide statements,\ncovering all federal executive branch agencies. The Federal Financial Management Improvement\nAct of 1996 built upon prior legislation and incorporated into statute certain financial system\nrequirements already established as executive branch policy. \n  In the 107th Congress, the Accountability of Tax Dollars Act of 2002 further amended the\n Chief\nFinancial Officers Act, extending the requirements for preparation of audited financial statements\nto most executive branch agencies. The Improper Payments Information Act of 2002 requires\nfederal agencies to identify programs that are vulnerable to improper payments and to estimate\nannually the amount of underpayments and overpayments made by these programs; the estimates are\nto be reported to Congress by March 31 following the end of the fiscal year.\n  The report also considers activities within the improved financial performance initiative, one\nof five government-wide reform efforts under the rubric of the  President's Management\nAgenda .\nAreas for special emphasis under the initiative include enhancing the quality and timeliness of\nfinancial information, reducing erroneous payments, and strengthening asset management by the\nfederal government.\n  This report will be updated as necessary.",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
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}