WHEN do we get to see this? In other words a Financial Statement - P&L - of what the feds do to us. I don’t recall ever seeing one.
Financial Report of the United States Government
The Financial Report of the United States Government (Financial Report) provides the President, Congress, and the American people with a comprehensive view of the federal government’s finances, i.e., its financial position and condition, revenues and costs, assets and liabilities, and other obligations and commitments. The Financial Report also discusses important financial issues and significant conditions that may affect future operations, including the need to achieve fiscal sustainability over the medium and long term.
The Department of the Treasury, in coordination with the Office of Management and Budget (OMB), prepares the Financial Report, which includes the financial statements for the U.S. Government. The Government Accountability Office (GAO) is required to audit these statements. The Financial Report is compiled primarily from individual federal agencies’ audited financial statements and related information included in the agencies’ financial reports. Inspectors General are generally responsible for annually auditing the financial statements for their respective agencies. The agency and governmentwide financial statements are generally required to be prepared in conformity with U.S. Generally Accepted Accounting Principles (GAAP) as promulgated by the Federal Accounting Standards Advisory Board (FASAB).
“”Inspectors General are generally responsible for annually auditing the financial statements for their respective agencies.””
Excerpt from my prior post - this is what’s wrong - well, ONE of the many things that are wrong. ANNUAL AUDIT by IG’s...They have always been a day late and a dollar short - Always closing the barn door after the horse has been stolen. How about AUDIT as you go? Catch it as it’s happening?
Kind of like having an employee stealing from a business - you know it, watch it for 12 months, let it continue and then FIRE THEM or prosecute them for theft! That’s all the IG’s do in any of the agencies.
I say IG’s are a total waste of our money!!!! I have said often - USELESS!
Under Zero, I happened to notice that the required refugee reports to Congress stopped cold.. We. Know why now, don't we.