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Financial Management: USDA Continues to Face Major Financial Management Challenges

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Report Type Reports and Testimonies
Report Date Sept. 27, 2000
Report No. T-AIMD-00-334
Subject
Summary:

During the last two years, financial managers at the Department of Agriculture (USDA) have made a commitment not only to resolve financial management weaknesses that have prevented the agency from receiving an unqualified opinion on its financial statements but also to achieve its long-term goal of financial accountability. The one notable exception involves Rural Development, one of USDA's component agencies. Rural Development has made slow progress in improving credit program costs and has missed several deadlines because of a shortage in both staff and funding resources. As a result, USDA is likely several years away from achieving financial accountability.

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