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Federal Government
GAO Audit Of U.S. Government's Fiscal Years 2014 and 2013 Consolidated Financial Statements PDF Print E-mail
Federal Government
By Administrator   
Friday, 27 February 2015 06:30

RALEIGH, (SGRToday.com) - The U.S. Government Accountability Office (GAO) has released a financial audit of the 2013 and 2014 fiscal years for the federal government.

From the GAO website is an excerpt of what the GAO found. The full analysis and report can be accessed at gao.gov.
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"Certain material weaknesses in internal control over financial reporting and other limitations on the scope of its work resulted in conditions that prevented GAO from expressing an opinion on the accrual-based consolidated financial statements as of and for the fiscal years ended September 30, 2014, and 2013.

About 32 percent of the federal government’s reported total assets as of September 30, 2014, and approximately 19 percent of the federal government’s reported net cost for fiscal year 2014 relate to three Chief Financial Officers Act agencies that as of the date of GAO’s audit report, either received disclaimers of opinion on their fiscal year 2014 financial statements or had not issued their audited fiscal year 2014 financial statements.

Significant uncertainties, primarily related to the achievement of projected reductions in Medicare cost growth reflected in the 2014, 2013, 2012, 2011, and 2010 Statements of Social Insurance, prevented GAO from expressing an opinion on those statements as well as on the 2014 and 2013 Statements of Changes in Social Insurance Amounts. About $28.5 trillion, or 68.0 percent, of the reported total present value of future expenditures in excess of future revenue presented in the 2014 Statement of Social Insurance relates to Medicare programs reported in the Department of Health and Human Services’ 2014 Statement of Social Insurance, which received a disclaimer of opinion.

Material weaknesses resulted in ineffective internal control over financial reporting for fiscal year 2014.
    
Material weaknesses and other scope limitations discussed in the audit report limited GAO’s tests of compliance with selected provisions of applicable laws, regulations, contracts, and grant agreements for fiscal year 2014."

 
7th District Congressman David Rouzer Named Co-Chairman of Coastal Communities Caucus PDF Print E-mail
Federal Government
By Administrator   
Wednesday, 25 February 2015 06:00

RALEIGH, (SGRToday.com) - North Carolina's 7th congressional district includes coastal counties, and now the congressman who represents that area will have a powerful seat on House caucus that deals with coastal issues. Republican Rep. David Rouzer has been named Co-Chairman of the bipartisan Coastal Communities Caucus.  
 
“Our coastal communities face a unique set of challenges,” said Rouzer in a statement.  “Whether it’s flood insurance, beach nourishment and re-nourishment, the dredging of our waterways and inlets, or protecting our coastlines from natural disasters, we are committed to working together to meet the needs of our coasts.” 

Rouzer joins representatives from Florida, Alabama, Califonria, West Virginia, and New Jersey in the caucus.

Last Updated on Wednesday, 25 February 2015 06:01
 
Federal Taxpayer Advocacy Panel Members Selected PDF Print E-mail
Federal Government
By Administrator   
Tuesday, 24 February 2015 06:42

RALEIGH, (SGRToday.com) - Twenty-nine men and women from across the country will join 46 returning members of the Taxpayer Advocacy Panel, a federal advisory committee charged with providing taxpayer suggestions to improve IRS customer service.

The new members were selected from more than 400 interested individuals who applied during an open recruitment period last spring and the pool of alternate members who applied in prior years.

"Members of TAP volunteer their time to represent taxpayers and help the IRS understand their issues," said IRS Commissioner John Koskinen in a statement posted on the IRS website. "The TAP plays an important role in sound tax administration."

TAP members are U.S. citizens who volunteer to serve a three-year appointment and are expected to devote 200 to 300 hours per year to panel activities.

 
Feds Send Wrong Tax Information To 800,000 Obamacare Customers PDF Print E-mail
Federal Government
By Administrator   
Monday, 23 February 2015 06:33

WASHINGTON (AP) — The Obama administration says it sent about 800,000 HealthCare.gov customers the wrong tax information, and officials are asking those consumers to delay filing their 2014 taxes.

The tax error disclosed Friday is a self-inflicted injury that comes on the heels of what President Barack Obama had touted as a successful enrollment season, with about 11.4 million people signed up.

California, which is running its own insurance market, just announced a similar problem affecting about 100,000 people in that state.

The errors mean that nearly 1 million people may have to wait longer to get their tax refunds this year.

Another 50,000 or so who already filed may have to resubmit their returns.

Federal officials also announced a special sign-up extension for uninsured people facing the health care law's tax penalties.

 
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