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NCJ Number: 63768 Add to Shopping cart Find in a Library
Title: FINANCIAL MANAGEMENT IN THE FEDERAL GOVERNMENT - A TREASURY PERSPECTIVE
Author(s): J J LUCAS
Corporate Author: American University
United States of America
Date Published: 1978
Page Count: 106
Sponsoring Agency: American University
Washington, DC 20016
National Technical Information Service
Springfield, VA 22151
US Dept of the Treasury
Washington, DC 20226
Sale Source: National Technical Information Service
US Dept of Commerce
5285 Port Royal Road
Springfield, VA 22151
United States of America
Type: Historical Overview
Language: English
Country: United States of America
Annotation: THIS FINANCIAL MANAGEMENT REPORT EXPLORES THE TREASURY DEPARTMENT'S ROLE IN THE FINANCIAL MANAGEMENT OF THE FEDERAL GOVERNMENT AND TREASURY'S RELATIONSHIP TO OTHER RELEVANT AGENCIES IN THE FINANCIAL AREA.
Abstract: IN PARTNERSHIP WITH THE OFFICE OF MANAGEMENT AND BUDGET (OMB) AND THE GENERAL ACCOUNTING OFFICE (GAO), TREASURY PROVIDES THE LEADERSHIP ESSENTIAL TO PROMOTE SOUND FISCAL MANAGEMENT IN THE FEDERAL SECTOR. HOWEVER, EACH AND EVERY ACCOUNTING ENTITY IN THAT SECTOR ULTIMATELY HAS AS GREAT A STAKE AS TREASURY IN THE QUALITY OF GOVERNMENTWIDE ACCOUNTING AND REPORTING. THIS OVERVIEW AND EXPLANATION OF THE MECHANICS OF THE CENTRAL ACCOUNTING AND REPORTING SYSTEM AIMS TO (1) CREATE AN AWARENESS OF THE INTERRELATIONSHIPS THAT EXIST IN THE FEDERAL FINANCIAL COMMUNITY, (2) ENCOURAGE GREATER GOVERNMENTWIDE COOPERATION IN TREASURY'S OBJECTIVE OF PUBLISHING TIMELY AND ACCURATE FINANCIAL REPORTS, AND (3) REDUCE THE INCIDENCE OF REPORTING AND COMMUNICATIONS PROBLEMS WHICH HINDER THE ACCOMPLISHMENT OF THAT OBJECTIVE. MOST FREQUENTLY-ENCOUNTERED AGENCY REPORTING DISCREPANCIES ARE ADDRESSED, SUCH AS DELAYS IN REPORTING AND RECONCILIATION TO STATEMENTS, LACK OF COMMUNICATION BETWEEN OFFICES, AND LACK OF UNDERSTANDING OF THE IMPORTANCE AND RELATIONSHIP OF REPORTS TO BUDGETING AND AGENCY ACCOUNTABILITY. FINALLY, A BRIEF SUMMARY OF ONGOING TREASURY PROJECTS AFFECTING THE CENTRAL ACCOUNTING SYSTEM IS PRESENTED IN RECOGNITION OF TREASURY'S EXPANDING FISCAL, BUDGETARY, AND PROGRAM-RELATED RESPONSIBILITIES IN GOVERNMENTAL FINANCIAL MANAGEMENT. FOOTNOTES, A BIBLIOGRAPHY, AND APPENDIXES SHOWING FISCAL STATEMENTS, RECEIPTS, AND ORGANIZATIONAL CHARTS ARE INCLUDED. (MHP)
Index Term(s): Federal government; Financial management; US Department of the Treasury; US Government Accountability Office (GAO)
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http://www.ncjrs.gov/App/publications/abstract.aspx?ID=63768

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