GSA Receives Unqualified "Clean" Opinion from Auditors

Posted November 20, 2007

GSA was awarded an unqualified "clean" opinion on its Fiscal Year 2007 Performance and Accountability Report (PAR) by independent auditors, PriceWaterhouseCoopers.

Prepared by the Office of the Chief Financial Officer, the PAR for Fiscal Year 2007 provides the financial and performance information that enables the President, Congress, and the American people to assess GSA’s performance results.

An "unqualified opinion" means an auditor, upon review of an agency’s financial statements and accompanying notes, has concluded that the financial statements and accompanying notes are presented fairly and conforms to generally accepted accounting principles. Financial statements certified as "clean" confirm that an auditor can report that the financial statements are reliable and represent the true financial condition of the agency.

Building on the previous year’s financial reporting success, GSA again received an unqualified "clean" opinion on its 2007 financial statements.

To GSA, the receipt of an unqualified "clean" opinion means that federal customers can trust the agency’s financial integrity, and can rely on the appropriate controls that are in place to manage their funds properly. It also directly supports GSA’s new commitment to excellence in the business of government, and affirms the agency’s mission to offer and deliver services and commodities as needed and at the best price to its customers.

In addition, GSA’s business activities during 2007 showed an overall improved financial position, and demonstrated that the agency's major internal reorganization, a renewed focus on superior customer service and several new business initiatives are beginning to pay important dividends.

Highlights of GSA’s 2007 financial success include:

• Breaking even on financial operations;
• GSA’s commercial schedules program showing an all time high growth of 2.2 percent;
• Global Supply increasing 5.5 percent mainly from business with the Department of Defense.

"GSA’s financial house is in order, we’ve set a clear course for business success, and our workforce is fully engaged," said Administrator Doan said. "The clean opinion checks off another key milestone as we work to bring fiscal discipline and entrepreneurial energy to all areas of GSA, pave the way for future financial stability and growth, and deliver best value to the American taxpayers."