Letter from the Chief Financial Officer
In FY 2009, the U.S. General Services Administration (GSA) continued to make significant progress across its financial management program. The Agency again obtained an unqualified “clean” opinion on our FY 2009 consolidating financial statements and clean opinions on our Statement on Auditing Standards (SAS) 70 reports.
FY 2009 was a year of challenges and opportunities. GSA began FY 2009 with a material weakness related to systems and budgetary controls, and a Federal Financial Management Improvement Act (FFMIA) non-compliance issue due to an excessive number of adjustments to the financial statements. Thanks to extensive efforts across GSA’s financial and operational communities, the significant deficiency is no longer material and the FFMIA non-compliance was eliminated. Throughout the year, the Agency maintained positive balances in our revolving funds, demonstrated sound financial planning and stewardship, met the challenges associated with the stewardship of $5.9 billion American Recovery and Reinvestment Act (Recovery Act) of 2009 funds, and improved the timeliness and transparency of our financial reporting.
Despite this success, challenges and opportunities remain, particularly in improving the integration of the business and financial systems, and strengthening information technology (IT) controls. We will continue to modernize our financial systems, and are on track to implement a greatly improved billing and receiving process over the next three years. GSA is integrating risk management into the Agency’s decision-making process to better address the varied challenges facing our programs, in particular those related to the Recovery Act. We are also working to continually improve the efficiency and effectiveness of our operations, policies and procedures, increasing and improving our use of tools such as Lean Six Sigma, workload planning and analysis, and managerial cost accounting.
The FY 2009 Agency Financial Report reflects GSA’s Agency-wide commitment to transparency, accountability and financial integrity throughout the financial management services that are provided to over 50 internal and external customers. I am confident that sense of commitment will continue to drive improvements throughout the GSA financial management program.
Kathleen M. Turco