Enhanced Transparency and Accountability in Federal Agency Financial Management.
This Act aims to improve how federal agencies manage public funds by demanding greater efficiency and accountability. It mandates the creation of publicly available 4-year financial plans and requires agencies to link cost information directly to performance outcomes. Citizens benefit from increased transparency regarding how their tax dollars are spent through new, detailed reports and rigorous audits.
Key points
Federal agencies must now publish 4-year financial management plans, increasing transparency regarding public spending.
Agencies are required to strictly link the costs of government programs with their actual results, promoting more efficient use of taxpayer money.
Internal controls and financial audits are strengthened to ensure agency accounting systems are accurate and adhere to the highest standards.
Expired
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