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Summarizing OMB s Financial Management Initiatives There re Lots of Them AGA

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Summarizing OMB s Financial Management Initiatives There re Lots of Them AGA

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    2. Introduction OMB is moving out on multi fronts intended to improve Federal Financial Management Danny Werfel – Deputy to Linda Combs who we heard earlier today – is a key spokesperson for the initiatives We thank Danny for providing his recent material and supporting our presentation

    4. Key Trends: Number of agencies with a clean audit opinion 2004 = 18; 2005 = 19 Number of auditor-identified material weaknesses 2004 = 50; 2005 = 48 Improper payments 2004 = $45.1 billion; 2005 = $37.3 billion Timeliness of reporting 2004 = 22 of 24 agencies meet deadline; 2005 = all agencies meet deadline Surplus property $3.5 billion disposed since President’s initiative launched in 2004 Improving Financial Performance

    6. OMB Focus Areas

    7. Improper Payments

    8. REAL PROPERTY

    9. FINANCIAL MANAGEMENT LINE OF BUSINESS

    10. GOVERNMENT-WIDE FINANCIAL REPORT

    11. OMB CIRCULAR A-123

    12. GRANTS

    13. Bringing the framework together…

    14. Questions???

    15. To Reach Us Clif Williams 703-637-2889 clifton.williams@gt.com Dick Willett 202-778-3434 dwillett@tcba.com

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