GSA's closed financial books... and an appology
This morning on Federal News Radio, GSA CFO Kathleen M. Turco was on talking about how the agency's fiscal 2006 financial statements earned an unqualified, or "clean," audit from independent auditors PricewaterhouseCoopers. You can hear Turco in Windows Media Format here.
This is no small step -- for any agency. But it is a particularly significant step for GSA, which has been struggling.
A clean audit, however, does not address the real questions about GSA's financial situation: What is GSA's financial health? For most of this year, FCW has been working to have GSA make its financial data public. We are interested in not only seeing its annual reports. What matters is the real data that provides an indication of GSA's financial health.
In April, FCW opined that it was time for GSA to come forth with real data that could demonstrate the agency's health. Here is a part of what we said back then:
GSA has never released extensive financial information. But this is an unusual time in the agency's history. Its officials have argued that the financial numbers are constantly changing. Yet, they are making decisions based on those numbers.
GSA wants to operate like a business, and releasing financial information would be an important step in that transformation. Public companies release quarterly reports on the status of their fiscal health. Yet, GSA, which is a steward of the public's money, has chosen to say almost nothing.
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