ERIC Number: ED408664
Record Type: Non-Journal
Publication Date: 1997
Reference Count: N/A
U.S. Department of Education Annual Accountability Report, Fiscal Year 1996.
Department of Education, Washington, DC.
The United States spends more than $500 billion a year on education at the elementary, secondary, and postsecondary levels. State, local, and private expenditures account for over 90 percent of the spending, and agencies of the federal government contribute less than 10 percent. This report highlights the U.S. Department of Education's current mission, priorities, and progress. The report also includes reporting requirements on financial management: the departmentwide unaudited financial statements, the overall condition of management controls, a progress report on audit followup, and a status report on the timeliness of the department's vendor payments. In fiscal year 1996, the department administered $30.6 billion in educational funding that was distributed to programs supporting students of all ages. This represents only about 2 percent of the total federal budget. A table shows how each major education program was funded in fiscal year 1996. The report contains a profile of the Department of Education, program highlights and performance, financial highlights, financial improvement initiatives, highlights of reporting requirements, and unaudited financial statements and accompanying notes. An evaluation form for this report is included. (LMI)
Descriptors: Accountability, Budgets, Educational Finance, Elementary Secondary Education, Expenditures, Federal Programs, Financial Audits, Financial Support, Loan Repayment, Money Management, Postsecondary Education, State Aid, Strategic Planning, Student Loan Programs
U.S. Department of Education, Office of the Chief Financial Officer, 600 Independence Ave., S.W., Room 4316, Washington, DC 20202.
Publication Type: Reports - General; Tests/Questionnaires
Education Level: N/A
Authoring Institution: Department of Education, Washington, DC.