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Program Assessment


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Financial Management Service Government-wide Accounting

The purpose of the program is to publish Government-wide financial information. This information is used by the public to monitor the Government's financial status. Among the reports it publishes is the Financial Report of the U.S. Government, which serves as the Government's audited financial statements.


What This Rating Means

Moderately Effective

In general, a program rated Moderately Effective has set ambitious goals and is well-managed. Moderately Effective programs likely need to improve their efficiency or address other problems in the programs' design or management in order to achieve better results.
  • The program has a clear purpose, is well managed, and meets or exceeds its current performance targets. In 2006, 100 percent of Government-wide accounting reports were issued accurately and on time.
  • The program must develop a baseline for its efficiency performance measure. While FMS has unit cost, timeliness, and accuracy measures in its internal and external performance reporting that are used to manage for improved efficiency, at the time of this PART evaluation, a baseline for the new unit cost measure had yet not been established.
  • More work needs to be done in order to achieve a clean opinion on the Financial Report of the US Government. Improvement is needed on material weaknesses in the areas of accounting data compilation/consolidation and reconciliation of intragovernmental reporting differences.

Improvement Plan

About Improvement Plans

We are taking the following actions to improve the performance of the program:

  • Developing a baseline for the efficiency performance measure that measures the unit cost to manage one million dollars of cash flow.
  • Developing the Financial Information Reporting Standardization (FIRST) system in order to better integrate and reconcile budget and accounting data.

Learn More

The content on is developed by the U.S. Office of Management and Budget and Federal agencies.