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GAO-11-781R 1 (2011-07-13)

handle is hein.gao/gaobaanzc0001 and id is 1 raw text is: GAO Acona ity * Integrity * Reliability United States Government Accountability Office Washington, DC 20548 July 13, 2011 Congressional Committees: Subject: Cost and Legal Authority for Selected Financial Literacy Programs and Activities This letter provides additional information about federal financial literacy activities that were addressed in two reports to Congress issued in March 2011, Opportunities to Reduce Potential Duplication in Government Programs, Save Tax Dollars, and Enhance Revenue and List of Selected Federal Programs That Have Similar or Overlapping Objectives, Provide Similar Services, or Are Fragmented Across Government Missions.1 These reports were prepared in response to a statutory requirement to identify federal programs, agencies, offices, and initiatives, either within departments or governmentwide that have duplicative goals or activities.2 Based on ongoing congressional interest, the enclosure to this letter provides a summary description, statutory or other legal authority, and appropriation or estimated cost for 13 selected financial literacy programs and activities in 10 federal agencies. As we have previously reported, in a 2009 survey conducted by the Departments of the Treasury and Education, federal agencies self-identified 56 programs and activities related to financial literacy.3 The 13 programs and activities in the attached enclosure were selected because they were in operation as of June 2011 and met two additional criteria: (1) they were relatively comprehensive in scope and scale and (2) they were primarily aimed at improving financial literacy. We did not include federal programs or activities that constituted only simple information sources (such as a single brochure or a basic Web site) or for which financial literacy was only a small component of the program or activity. We also did not include the activities of the Department of Defense and the Federal Reserve System because that information was not available at this time. Information on those agencies' financial literacy activities will be included in a future report we will be issuing on this topic. 1GAO, Opportunities to Reduce Potential Duplication in Government Programs, Save Tax Dollars, and Enhance Revenue, GAOQ1 1-318SP (Washington, D.C.: Mar. 1,2011) and List of Selected Federal Programs That Have Similar or Overlapping Objectives, Provide Similar Services, or Are Fragmented Across Government Missions, GAO-11-474R (Washington, D.C.: Mar. 18, 2011). 2pub. L. No. 111-139, §21, 124 Stat. 29 (2010), codified at31 U.S.C. § 712 note. 3GAO-1 1-474R. The results of the 2009 survey were published in Angela A. Hung, Kata Mihaly, and Joanne K. Yoong, Federal Financial and Economic Literacy Education Programs, 2009 (Santa Monica, Calif.: RAND Corporation, 2010). GAO-1 1-781 R Financial Literacy Programs and Activities

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