Unlike American taxpayers, many agencies are conducting their financial activities without regard to whether money is being spent productively. They are critical to ensure timely, consistent and accurate financial record keeping that should maximize agency performance and assure the proper expenditure of taxpayer dollars. Although agencies are more aware of their financial management weaknesses and have started taking steps to address them, most have gained little ground. Agencies can t properly estimate the cost of most major federal credit programs. Agencies can t properly account for basic transactions, like purchases.
Agencies can t report major portions of the cost of government operations.
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