Major Financial Management Improvements Needed at Department of Energy

Gao ID: OCG-82-1 September 15, 1982

GAO was asked to review selected areas of the Department of Energy's (DOE) financial management. Significant problems were found in the areas of internal controls, cash and property management, and contract administration.

GAO found that: (1) both the computerized and manual accounting controls need improvement at the headquarters and four field offices reviewed; (2) DOE has not adequately monitored government funds held by grantees and, contrary to Treasury regulations, large amounts of cash were provided to grantees before need; (3) DOE does not have an effective system for recording, managing, and disposing of government property held by contractors; and (4) projects for the Strategic Petroleum Reserve (SPR) project need to be better administered, particularly with regard to audit coverage.

Recommendations

Our recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.

Director: John F. Simonette Team: Government Accountability Office: Office of the Comptroller General Phone: (202) 275-1581


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