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<classification authority="sudocs">GA 1.13:T-OCG-96-2</classification>
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 <subject>Federal downsizing</subject>
 <subject>Budget cuts</subject>
 <subject>Deficit reduction</subject>
 <subject>Productivity</subject>
 <subject>Accountability</subject>
 <subject>Financial management</subject>
 <subject>Information resources management</subject>
 <subject>Investigations by federal agencies</subject>
 <subject>Reengineering (management)</subject>
 <subject>Oversight by Congress</subject>
 <identifier>Clinch River Breeder Reactor (TN)</identifier>
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 <identifier>DOJ Operation Ill Wind</identifier>
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 <title>Congressional Oversight: The General Accounting Office</title>
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<abstract>GAO discussed its work. GAO noted that: (1) in the last 5 years, GAO
work has resulted in financial savings and other benefits at a return of
$55 for every dollar appropriated for GAO; (2) it has developed a cadre
of experts who have helped federal agencies improve their information
systems and financial, property, and inventory management; (3) despite
budget cuts, it has maintained or increased its productivity; (4) GAO
work directly resulted in financial statement requirements for federal
agencies and first alerted the nation to the savings and loan crisis and
the risk of derivatives; (5) it has established five broad,
high-priority work areas that seek to improve government efficiency and
cost-effectiveness, expose fraud, waste, abuse, and mismanagement,
reduce the deficit, improve accountability, and identify trends with
fiscal, budgetary, or oversight consequences; (6) to improve its
productivity, it is streamlining its operations and downsizing its
workforce, improving its work and reporting processes, using advanced
information resources technology, and enhancing its methodological and
technical skills; (7) further staff cuts may affect its accountability
and jeopardize its ability to conduct audits and investigations; (8) an
independent study has recognized the value of GAO and its nonpartisan
and nonideological nature; (9) in response to the study&apos;s
recommendations, it has taken steps to focus and improve its work and
optimize its usefulness to Congress; and (10) it will continue to guard
its reputation for independence, credibility, and integrity while
meeting Congress&apos; needs.</abstract>
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<note>Testimony</note>
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<subject>
 <topic>Federal downsizing</topic>
 <topic>Budget cuts</topic>
 <topic>Deficit reduction</topic>
 <topic>Productivity</topic>
 <topic>Accountability</topic>
 <topic>Financial management</topic>
 <topic>Information resources management</topic>
 <topic>Investigations by federal agencies</topic>
 <topic>Reengineering (management)</topic>
 <topic>Oversight by Congress</topic>
 <topic>Clinch River Breeder Reactor (TN)</topic>
 <topic>Bank Insurance Fund</topic>
 <topic>BIF</topic>
 <topic>DOJ Operation Ill Wind</topic>
 <topic>Medicare Program</topic>
 <topic>Strategic Petroleum Reserve</topic>
 <topic>SPR</topic>
 <topic>Medicaid Program</topic>
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