ERIC Number: ED402678
Record Type: Non-Journal
Publication Date: 1996
United States Department of Education: Annual Accountability Report, Fiscal Year 1995.
Department of Education, Washington, DC.
Fiscal year 1995 marks the first year during which an independent audit was conducted of the U.S. Department of Education's financial statements. This first annual accountability report describes the department's history, current mission, priorities, and progress. It highlights the department's program and fiscal accomplishments and describes future customer-service efforts. The report includes other reporting requirements on finance management: the overall condition of management controls, a progress report on audit followup, and a status report on the timelines of the department's vendor payments. The data indicate that the department has improved the control and accountability over student loan defaults, increased direct-loan program volume from 104 schools to approximately 1,350 schools, and initiated improvement to management processes. Six exhibits, three figures, the department's response to the audit, and the auditor's evaluation of department comments are included. (LMI)
Descriptors: Accountability, Cost Effectiveness, Efficiency, Elementary Secondary Education, Expenditures, Federal Aid, Federal Government, Federal Programs, Financial Audits, Higher Education, Loan Default, Loan Repayment, Mission Statements, Money Management
Office of the Chief Financial Officer, Executive Office, U.S. Department of Education, 600 Independence Ave., S.W., Washington, DC 20202.
Publication Type: Reports - Evaluative; Numerical/Quantitative Data
Education Level: N/A
Authoring Institution: Department of Education, Washington, DC.