United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2001-08-13 monographic deposited born digital 15 p. GA 1.13:GAO-01-910R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-01-910R P0b002ee1803a55c9 f:d01910r DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-01-910R machine generated eng fdlp REPORT GAOREPORTS-GAO-01-910R GAO-01-910R Financial management Internal controls Personnel management Federal agency accounting systems Check disbursement or control Financial statement audits Fedwire FMS Automated Standard Application for Payment Correspondence A01601

In the U.S. government's consolidated financial statements for fiscal year 2000, GAO tested certain internal controls over federal disbursements processed by the Department of the Treasury's Financial Management Service (FMS). With some exceptions, FMS makes disbursements for all federal agencies through its Regional Financial Centers and Debt Management Operations Center. For fiscal year 2000, FMS reported processing approximately 890 million disbursements totaling over $1.2 trillion. The centers disburse funds by check, electronic fund transfer (EFT), or Fedwire. FMS reported that these disbursements for fiscal year 2000 included approximately 265 million checks amounting to over $265 billion, approximately 625 million EFTs amounting to over $720 billion, and approximately 47,000 Fedwires amounting to over $275 billion. The centers also process Automated Standard Application for Payments (ASAP) system enrollments. FMS reported the federal agencies authorized payments of over $254 billion in fiscal year 2000 using the ASAP system. This report reviews the results of GAO's (1) follow-up work on previously recommended improvements and corrective actions taken to address such recommendations and (2) fiscal year 2000 testing and related recommendations for improving controls over safeguarding of assets and processing and documenting delegation and designation of agency certifying officers. GAO found that FMS' and the centers' corrective actions resolved weaknesses reported for fiscal year 1999 relating to (1) controls over checks awaiting destruction and returned checks, (2) segregation of duties for the ASAP system, (3) documenting agency certifying officer's signature verification, (4) authorized signature for return of canceled Fedwire disbursements, and (5) reconciling courtesy disbursements. Similar to fiscal year 1999, FMS had internal control weaknesses in personnel screening, inventory control, audit procedures, and reporting requirements. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-01-910R/html/GAOREPORTS-GAO-01-910R.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-01-910R/pdf/GAOREPORTS-GAO-01-910R.pdf GAO-01-910R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-01-910R Correspondence GAO-01-910R; Internal Controls: Federal Disbursement Controls Can Be Strengthened; Financial management Internal controls Personnel management Federal agency accounting systems Check disbursement or control Financial statement audits Fedwire FMS Automated Standard Application for Payment Title 31 Section 331 Title 31 Section 3512 Title 31 Section 720 31 U.S.C. 331 31 U.S.C. 3512 31 U.S.C. 720