Financial Management

Additional Actions Needed to Improve Federal Financial Management Systems Gao ID: AFMD-90-14 April 27, 1990

GAO reviewed efforts by the Office of Management and Budget (OMB) and the Department of the Treasury to improve the federal government's financial management operations.

GAO found that: (1) due to the lack of a governmentwide financial management plan to help guide and control their efforts, agencies struggled in developing financial systems; (2) in April 1989, OMB began developing a governmentwide financial management improvement plan; (3) the Financial Management Service's (FMS) Federal Agency Financial Systems Program helped in furthering governmentwide improvements in financial management systems, but the program still needed improvements; (4) program officials believed that insufficient resources hindered their efforts to accomplish their objectives; (5) 2 years after the program's establishment, there were only eight program staff regulating the entire federal government; (6) FMS did not develop a comprehensive strategy defining program objectives; (7) Treasury's plans did not rank program objectives or identify milestones for accomplishing them; and (8) a comprehensive strategy would provide agencies with direction and focus and would be an integral part of an OMB long-range financial management plan.

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.

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