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News Release

HHS Issues Performance and Accountability Report: Fifth Consecutive Clean Opinion On Its Audited Financial Statements

HHS Secretary Tommy G. Thompson today announced release of the HHS Performance and Accountability Report for fiscal year 2003. The report, similar to private sector annual reports to stockholders, describes the department's progress toward program and management goals, and reflects a detailed review of HHS financial accountability. For the fifth consecutive year, HHS achieved a "clean" audit opinion from the HHS Office of Inspector General on its consolidated financial statements.

"This is our annual report to the American people," said Secretary Thompson. "HHS is responsible for the largest budget compared with any other department in government. Our report successfully accounts for over one-half trillion dollars in expenses. It is crucial that we manage these resources carefully, and with full accountability to the taxpayers. This year's report shows that we continue to make progress toward more integrated and productive management of the more than 300 HHS programs that serve Americans, and toward increased financial discipline and accountability."

HHS has been preparing audited financial statements as prescribed by the CFO Act since 1996. With each successive year, HHS has further improved its audit opinion by reducing the number of audit findings, while reducing the time required to complete the audit. Two key factors led to the achievement of a clean opinion for the fifth year in a row: the close cooperation of the HHS finance office with the department's independent Office of Inspector General; and the re-engineering and streamlining of reporting and auditing processes and the elimination of redundancies.

Acting Principal Deputy Inspector General Dara Corrigan said, "The release of a financial statement as early as Nov. 15 is unprecedented. This was accomplished through the hard work and cooperation of many individuals throughout the department."

The report was 75 days earlier than last year's annual report, thus meeting the President's Management Agenda objective to accelerate financial reporting by making financial and program information available to decision-makers. The report contains performance information on the department's programs, resource management, and stewardship responsibilities. It shows the strides that HHS has made relative to the President's Management Agenda, including progress in addressing such issues as reducing the occurrence of erroneous payments and improving financial reporting and management processes.

"This document fully demonstrates our accountability and stewardship," Secretary Thompson said. "Our success in producing and accelerating the report is the direct result of the dedication and professionalism of HHS staff under the leadership of our Office of Budget, Technology and Finance."

The report is on the Web at http://www.hhs.gov/of/reports/account/acct03/.

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Note: All HHS press releases, fact sheets and other press materials are available at http://www.hhs.gov/news.

Last Revised: November 20, 2003