Federal Financial Statements for FY 2006: Fiscal Outlook, Management Weaknesses and Consequences

On Tuesday, March 20, 2007, at 2:00 p.m., in Room 2154 of the Rayburn House Office Building, the Subcommittee on Government Management, Organization, and Procurement held an oversight hearing on the federal government’s fiscal year 2006 consolidated financial statements.

The hearing reviewed issues that prevent the federal government from receiving a clean audit opinion, including systems and technology challenges at the Department of Energy and interdepartmental accounting issues at the Department of Homeland Security.

A review of problems at the Federal Protective Service in DHS showed how financial management issues can have a direct impact on government operations and security.