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GAO-25-108151 1 (July 23, 2025)

handle is hein.gao/uscsldated0001 and id is 1 raw text is: G A O U.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 July 23, 2025 Ms. Lynn Moaney Deputy Chief Financial Officer Office of the Chief Financial Officer, Room 143-W U.S. Department of Agriculture 1400 Independence Ave., SW. Washington, DC 20250 U.S. Consolidated Financial Statements: Key Issues for the U.S. Department of Agriculture Dear Ms. Moaney: As the U.S. Department of Agriculture's (USDA) Deputy Chief Financial Officer, you have an important role in helping to ensure that reliable and complete federal financial information is available. The purpose of this letter is to highlight important issues for your awareness related to financial management in the federal government. GAO is responsible for conducting the annual audit of the U.S. government's consolidated financial statements, or CFS.1 On January 16, 2025, we issued a disclaimer of opinion on these statements for fiscal years 2024 and 2023.2 The consolidated financial statements are compiled from federal entity financial statements and other federal entity information. As such, federal entities, including USDA, have a key role in supporting financial reporting at the government- wide level. USDA's strong and sustained commitment is critical to addressing the following key issues that affect the U.S. government's consolidated financial statements. USDA's qualified opinion: USDA received a qualified opinion on its fiscal years 2023 and 2024 financial statements. According to USDA's auditor, USDA was unable to support certain budget obligations for Supplemental Nutrition Assistance Program (SNAP) benefits. This qualification contributed to us being unable to express an opinion on the consolidated financial statements. 1The Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget, is required to annually submit audited financial statements for the executive branch of the U.S. government to the President and Congress. These statements, as submitted, also include the legislative and judicial branches. 2GAO, Financial Audit: FY 2024 and FY 2023 Consolidated Financial Statements of the U.S. Government, GAO-25- 107421 (Washington, D.C.: Jan. 16, 2025). GAO-25-108151 CFS Issues for USDA Page 1

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