The Dept. of the Treasury, in coordination with the Office of Mgmt. and Budget, annually prepares the Financial Report of the U.S. Gov¿t, hereafter referred to as the Consolidated Financial Report (CFR). The CFR is a general-purpose report of accountability intended internally for members of Congress, fed. exec. and fed. program managers, and externally primarily for citizens and citizen intermediaries who are interested in fed. gov¿t. activities. This guide is a comprehensive overview of the fed. govt.¿s finances. It explains the purpose of each CFR component and provides illustrative financial information using actual FY 2008 and 2007 data to focus readers on the kinds of significant info. found in the various parts of the CFR. Tables.
A complete and balanced reference, Public Budgeting Systems, Eighth Edition surveys the current state of budgeting throughout all levels of the United States government. The text emphasizes methods by which financial decisions are reached within a system as well as ways in which different types of information are used in budgetary decision-making. It also stresses the use of program information, since, for decades, budget reforms have sought to introduce greater program considerations into financial decisions. This updated text includes more cases studies and practical information, figures and charts to make the information more accessible, as well as additional student problems. Using this text, students will gain a first-rate understanding of methods by which financial decisions are reached within a system, and how different types of information are used in budgetary decision-making.
Policymakers and program managers are continually seeking ways to improve accountability in achieving an entity's mission. A key factor in improving accountability in achieving an entity's mission is to implement an effective internal control system. An effective internal control system helps an entity adapt to shifting environments, evolving demands, changing risks, and new priorities. As programs change and entities strive to improve operational processes and implement new technology, management continually evaluates its internal control system so that it is effective and updated when necessary. Section 3512 (c) and (d) of Title 31 of the United States Code (commonly known as the Federal Managers' Financial Integrity Act (FMFIA)) requires the Comptroller General to issue standards for internal control in the federal government.
Author: United States. Congress. Senate. Committee on Homeland Security and Governmental Affairs. Subcommittee on Federal Financial Management, Government Information, Federal Services, and International Security