Office of Inspector General audit report on the U.S. Department of Energy`s funds distribution and control system at the Federal Energy Technology Center
In Fiscal Year 1998, the Federal Energy Technology Center (FETC) was responsible for managing about $723 million in budgetary resources. The objective of this audit was to determine if FETC had a funds distribution and control system to ensure appropriated funds were managed in accordance with congressional intent and applicable policies and procedures. Improvements are needed in FETC`s administration of budgetary and accounting transactions. FETC did not have a comprehensive system to allocate indirect costs to funding programs and work-for-others projects. In addition, FETC did not completely adhere to Headquarters Clean Coal budget direction. The Office of Inspector General (OIG) reached its conclusions despite a scope impairment. Written documentation was not always available, and the audit team did not have ready access to key personnel who could explain certain transactions and management practices and procedures. In order to strengthen the FETC financial management system, the OIG recommended (1) the development of policies, procedures, and practices to accurately collect and allocate indirect costs and (2) improvements in internal control procedures. The OIG also recommended that the Chief Financial Officer conduct a detailed for cause review of the financial management practices at FETC and work with the Office of Field Management to develop a schedule for reviewing the financial management systems of all Departmental elements.
|Year of publication:||
|Subject:||mathematics, computers, information science, management, law, miscellaneous | US DOE | US DOE INSPECTOR GENERAL | FINANCIAL DATA | PROGRAM MANAGEMENT | COMPLIANCE AUDITS|
|Type of publication:||Other|
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