The Government Reform Committee report said the panel
will be monitoring agency financial management because
clean financial opinions have leveled off and the number
of restatements has risen.
The committee also wants to ensure the Office of Management
and Budget’s Office of Federal Financial Management as well
as CFO offices get the funding they need for financial
management systems, claiming that proper systems could
reduce the nearly $40 billion in annual overpayments and
save between $25 and $50 billion a year.
As the committee’s federal property reform legislation is
stalled because of the cost estimate, the report said the
administration has found a way to address several of the
administrative and management challenges associated with
the federal property portfolio, but noted they are
distributed across a number of appropriations bills, and
called for a single legislative framework that can
provide the government with comprehensive management reforms.
