financial management | The Contracting Education Academy

July 1, 2020 By cs

Pandemic oversight committee launches contract spending tracker

The committee stated in its first report that financial management could be a top challenge for agencies.

**Click on image above to see contract spending compiled by the Pandemic Response Accountability Committee.**

The Pandemic Response Accountability Committee, established by the $2.2 trillion CARES Act, has launched an online tool to track the federal government’s contract spending. The committee is one of the various entities overseeing the government’s response to the novel coronavirus pandemic and is composed of 21 inspectors general. The relief package appropriated an unprecedented amount of money, so there has been increased pressure to ensure the funds are not misspent. As of last Tuesday, the federal government has committed to 7,474 contracts with 4,115 vendors and spending of $15.9 billion, according to ProPublica.

“Users can download the entire dataset to conduct their own analysis by examining contracts by category – for example medical services and equipment, janitorial services for government buildings, and personal protective equipment and safety supplies for government workers,” said the committee. There is also “an interactive map for users to explore the total amount of contract spending by state and county.”

The committee is using numbers from the Federal Procurement Data System to track the spending and will update the tracker weekly. The committee noted that contract documents aren’t usually made public because of their proprietary information, but individuals can try to obtain them through Freedom of Information Act requests.

Keep reading this article at: https://www.govexec.com/oversight/2020/06/pandemic-oversight-committee-launches-contract-spending-tracker/166370/

The Contracting Education Academy at Georgia Tech has established a webpage where all contract-related developments related to the coronavirus (COVID-19) are summarized. Find the page at: https://contractingacademy.gatech.edu/coronavirus-information-for-contracting-officers-and-contractors/

November 21, 2019 By cs

DoD’s second financial audit uncovers 1,300 new deficiencies

The results of the Pentagon’s second-ever full financial audit are a decidedly mixed bag: Although officials were able to point to some areas of significant progress in managing the Defense Department’s finances over the past year, overall, auditors are uncovering new problems faster than the department is fixing them.

At this time a year ago, auditors had made 2,410 separate findings and recommendations during the department’s first-ever financial audit. In the 2019 financial report DoD issued Friday evening, officials said 556 of those had been resolved. But besides the more than 1,800 problems the department is still wrestling with from 2018, auditors made more than 1,300 new findings during the course of the latest audit.

In addition, the audit turned up a larger number of material weaknesses this year.

Keep reading this article at: https://federalnewsnetwork.com/defense-main/2019/11/dods-second-financial-audit-uncovers-1300-new-deficiencies/

May 23, 2019 By AMK

What OMB’s new ‘shared services’ policy will mean for modernization

The Trump administration wants to make a concerted effort toward establishing a sustainable shared services ecosystem to lower costs and ensure best practices and modern infrastructure pervade government—something past administrations have tried before.

Later today, Office of Management and Budget acting Director Russell Vought will be issuing a memo, “Centralized Mission Support Capabilities for the Federal Government,” which replaces all previous shared services policies. The new policy creates a system for assessing which agency functions—such as payroll or cybersecurity—have consistent standards across government and which specific departments would be best positioned to act as leaders in those areas.

The memo also includes a mandate for the rest of government to follow those agencies and puts a hiatus on new projects once functional areas are identified.

“In the past, agencies took steps to consolidate common mission-support functions internally, and in some cases, to leverage common technology or services offered by other agencies,” Vought wrote in the memo obtained by Nextgov. “The government endeavors to utilize lessons from previous successes and failures to provide a new, enhanced strategic blueprint for sharing quality services within the federal enterprise.”

Keep reading article at: https://www.nextgov.com/policy/2019/04/exclusive-what-ombs-new-shared-services-policy-will-mean-modernization/156562/

The committee stated in its first report that financial management could be a top challenge for agencies.

The Trump administration wants to make a concerted effort toward establishing a sustainable shared services ecosystem to lower costs and ensure best practices and modern infrastructure pervade government—something past administrations have tried before.

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