News release: “The Federal Reserves 2007 study of the composition of the check market released today shows that nearly 50 percent of checks written are consumer-to-business checks. The Check Sample Study reports on the composition of the check market based on responses from nine large financial institutions that together account for about one quarter of total U.S. paid check volume. The study, which categorizes the use of checks by payer, payee, and purpose, is the third component of the 2007 Federal Reserve Payments Study. Results of the first two components of the study were released December 10, 2007.”
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Daily Archives: March 25, 2008
DOE OIG: Office of Intelligence and Counterintelligence Internal Controls Over DOE's Sensitive Compartmented Information Access Program
DOE OIG Inspection Report: Office of Intelligence and Counterintelligence Internal Controls Over the Department of Energy’s Sensitive Compartmented Information Access Program, March 2008 – “We concluded that Office of Intelligence and Counterintelligence did not have adequate internal controls over its Sensitive Compartmented Information (SCI) access program.” Continue Reading
Leahy, Specter Call For DOJ Investigation Into Passport Data Breach At State Department
Follow up to State Department Acknowledges Unauthorized Access to Passport Records of Presidential Candidates, today’s news release: “Senate Judiciary Committee Chairman Patrick Leahy (D-Vt.) and Ranking Member Arlen Specter (R-Pa.) today urged the Attorney General to take immediate action to investigate reported breaches of the passport files of the three presidential candidates at the State… Continue Reading
2008 Annual Report: Boards of Trustees of the Federal Hospital Insurance and Supplementary Medical Insurance Trust Funds
Trustees Report & Trust Funds: “The Medicare Program is the second-largest social insurance program in the U.S., with 44.1 million beneficiaries and total expenditures of $432 billion in 2007. The Boards of Trustees for Medicare (also Boards) report annually to the Congress on the financial operations and actuarial status of the program. Beginning in 2002,… Continue Reading
The Financial Action Task Force Issues Terrorist Financing Report
“The Financial Action Task Force (FATF) is an inter-governmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing.” FATF Terrorist Financing Report, March 14, 2008 (37 pages, PDF): “This study examines the means used by terrorists to raise funds and the wide variety of… Continue Reading
DOJ OIG Audits: U.S. Marshals Service, Offices, Boards and Divisions, Assets Forfeiture Fund
United States Marshals Service Annual Financial Statement, Fiscal Year 2007, Audit Report 08-15, March 2008 (Commentary and Summary Only) Offices, Boards and Divisions Annual Financial Statement, Fiscal Year 2007, Audit Report 08-17, March 2008 (Commentary and Summary Only) Assets Forfeiture Fund and Seized Asset Deposit Fund Annual Financial Statement, Fiscal Year 2007, Audit Report 08-14,… Continue Reading
Social Security's Financial Outlook: The 2008 Update in Perspective
Related to this posting today, Social Security Trustees Release 2008 Annual Report, a new report, Social Security’s Financial Outlook: The 2008 Update in Perspective, by Alicia H. Munnell, Center for Retirement Research at Boston College. “The Trustees of the Social Security system have just issued the 2008 projections for the system over the next 75… Continue Reading
Social Security Trustees Release 2008 Annual Report
News release: “The Social Security Board of Trustees today released its annual report on the financial health of the Social Security Trust Funds. While the key dates for program costs exceeding tax revenues and Trust Fund exhaustion remain unchanged, the 2008 Trustees Report shows improvement in the projected long-term financial status of the Social Security… Continue Reading
New GAO Reports: No Child Left Behind Act, Native Hawaiian Education Act, Federal User Fees
No Child Left Behind Act: Education Actions Could Improve the Targeting of School Improvement Funds to Schools Most in Need of Assistance, GAO-08-380, February 29, 2008 Native Hawaiian Education Act: Greater Oversight Would Increase Accountability and Enable Targeting of Funds to Areas with Greatest Need, GAO-08-422, March 25, 2008 Federal User Fees: Substantive Reviews Needed… Continue Reading
Federal Home Loan Bank Board, Home Owners' Loan Corporation, and Federal Savings and Loan Corporation Annual Reports
“The annual reports and other documents relating to the Federal Home Loan Bank between 1933 and 1952 have been posted. These documents include reports on its related subsidiaries throughout that period – the Federal Home Loan Bank System and Administration, the Home Owners’ Loan Corporation, the Federal Savings and Loan Association, the Federal Savings and… Continue Reading
Jane's Information Services Ranks 50 Most Stable and Properous Countries in the World
UK Times Online: “A one-year investigation and analysis of 235 countries by Jane’s Information Services has put the UK joint seventh in the premier league of nations with the US at 22nd and Switzerland, normally associated with wealth and untouchable stability, is rated 17th. Here is the full list…” Continue Reading
DOT OIG: Assessment of FAA's Cost Accounting System and Practices
Assessment of FAA’s Cost Accounting System and Practices, Report Number: FI-2008-045. On March 21, 2008, we issued our final report on the Assessment of FAA’s Cost Accounting System and Practices. During FY 2006, FAA completed the implementation of the cost accounting system and, in FY 2007, finalized implementation of a labor distribution system. Overall, we… Continue Reading
