CGFM Exam 1: Section 5
Service efforts and Accomplishments (SEA) -
a report or several linked reports that communicate the efficiency and effectiveness in
which a government operates in trying to achieve desired results
Service efforts and Accomplishments (SEA) govt requirements -
issued by a few state and local governments and agencies
Government Performance and Results Act of 1993 (GPRA) -
Congress requires executive branch agencies to develop performance measures for key
programs and report their results
Free Press -
Referred to as the "fourth estate" because they provide unofficial checks and balances on
the 3 branches of Govt
other post-employment benefits (OPEB) -
examples are health insurance and life insurance for retirees
GASB statement 68 -
designed to improve accounting and reporting for state and local defined-benefit pension
plans
fundamental accountability for the Govt is established in? -
constitutions and charters
Chief Financial Officers Act of 1990 -
intended to improve the government's financial management, outlining standards of
financial performance and disclosure
CFO Act created these positions? -
(1) within the OMB, the Deputy Director for Management, who is the government's chief
financial management official;(2) CFOs for each of the (23) federal departments and agencies
FASAB: Statement of Federal Financial Accounting Concepts No. 1 -
addresses National (Fed) governmental accountability by stating govt is accountable for
budgetary integrity, operating performance, and stewardship.
Budgetary integrity -
funds are raised and spent according to law.
Operating performance -
funds have been spent efficiently and programs are effective.
Stewardship -
government activities promote the long-term health of the community and its economic
condition
GASB: Concepts Statement No. 2, Service Efforts and Accomplishments Reporting -
