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GAO-04-624R 1 (2004-04-30)

handle is hein.gao/gaobaamlh0001 and id is 1 raw text is: i A ' G A 0 Comptroller General . . ..Accountability * Integrity * Reliability of the United States United States General Accounting Office Washington, DC 20548 April 30, 2004 The Honorable Todd R. Platts Chairman Subcommittee on Government Efficiency and Financial Management Committee on Government Reform House of Representatives Subject: Responses to Posthearing Questions Related to GAO's Testimony on the U.S. Government's Consolidated Financial Statements for Fiscal Year 2003 Dear Mr. Chairman: On March 3, 2004, I testified before your subcommittee at a hearing on our report on the U.S. government's consolidated financial statements for fiscal year 2003.' This letter responds to your questions related to our testimony and to subsequent questions from the Vice Chairman that you asked us to answer for the record. Questions from Chairman Platts 1. Do you think that the Department of Homeland Security (DHS) has adequate resources to meet the November 15 financial reporting deadline for fiscal year 2004? During his March 10, 2004, testimony before your subcommittee, DHS's chief financial officer (CFO) expressed satisfaction with the current level of accounting staff in his office and in the department's bureaus but indicated that additional staff may be needed in the future. In DHS's fiscal year 2003 Performance and Accountability Report, however, DHS's independent financial statement auditor reported that one of the agency's seven material weaknesses was related to financial management and personnel.2 Specifically, the auditor reported that DHS's Office of 'U.S. General Accounting Office, Fiscal Year 2003 U.S. Government Financial Statements: Sustained Improvement in Federal Financial Management Is Crucial to Addressing Our Nation's Future Fiscal Challenges, GAO-04-477T (Washington, D.C.: Mar. 3, 2004). The fiscal year 2003 Financial Report of the United States Government, issued by the Department of the Treasury on February 27, 2004, is available through GAO's Web site at www.gao.gov and Treasury's Web site at -Aw fms.treas.go /fr/index.html. 2A material weakness is a reportable condition in which the design or operation of one or more internal controls do not reduce to a relatively low level the risk that losses, noncompliance, or GAO-04-624R 2003 CFS Posthearing Questions Page 1

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