U.S. Government Financial Statements: FY 2000 Reporting Underscores the Need to Accelerate Federal Financial Management Reform

摘要

I am pleased to be here today to discuss our report on the U.S. government's consolidated financial statements for fiscal year 2000. Both the consolidated financial statements and our report are included in the Fiscal Year 2000 Financial Report of the United States Government (Financial Report), which was issued today by the Department of the Treasury (Treasury) and is attached to this testimony. In passing the 1990 Chief Financial Officers (CFO) Act and other financial management reform legislation, such as the Government Management Reform Act and the Federal Financial Management Improvement Act (FFMIA), the Congress sought to overcome the historical lack of timely, accurate, and useful information to assure financial accountability for the federal government. Without timely, accurate, and useful financial information, the government cannot adequately ensure accountability, measure and control costs, manage for results, or make timely and fully informed decisions about allocating limited resources. A critical financial management reform component established by the Congress entails requirements for annual audited financial statements for 24 major federal departments and agencies (CFO Act agencies), beginning with fiscal year 1996, and consolidated financial statements for the U.S. government, beginning with fiscal year 1997.