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Tag Archives: Treasury Department

Treasury-OMB Report: Federal Budget Deficit at $779B in Fiscal 2018

Treasury Secretary Steven Mnuchin and Mick Mulvaney, director of the Office of Management and Budget, have issued a joint statement saying the federal budget deficit reached $779B in fiscal 2018, about $113B higher than the shortfall recorded in the previous fiscal year. The FY 2018 deficit was equivalent to 3.9 percent of the U.S. gross domestic product and $70B less than the projected shortfall in the Mid-Session Review for FY 2019, according to the statement published Monday.

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Treasury Dept Issues Interim Rules for Foreign Investment Review Pilot Program

The Treasury Department has released interim regulations for a pilot program to assess foreign acquisitions of critical U.S. technologies and intellectual property in compliance with the Foreign Investment Risk Review Modernization Act of 2018. “These temporary regulations address specific risks to U.S. critical technology while informing the development of final regulations that will fully implement FIRRMA,” Treasury Secretary Steven Mnuchin said in a statement published Wednesday.

 

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Treasury Invites Agency CFOs to Enact Proposed Financial Mgmt Initiatives

Bureau of the Fiscal Service Commissioner Kim McCoy has invited chief financial officers at federal agencies to try and put into action any of the 10 initiatives outlined in a publication describing the BFS' vision of the future of financial management.

The initiatives encompass four overarching objectives, namely: optimizing disbursements, improving collections, enhancing reporting and expanding administrative services.

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GAO Reviews Agencies’ Q2 2017 Spending Data

The Government Accountability Office has found in a recent study that only 15 out of 53 agencies submitted complete and accurate 2017 second quarter spending data to comply with the Digital Accountability and Transparency Act of 2014. GAO said Monday the other 38 agencies submitted inaccurate spending data partly due …

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Christopher Krebs: Trump Administration Seeks Public-Private Collaboration for National Risk Mgmt Initiative

Christopher Krebs, undersecretary for the Department of Homeland Security’s national protection and programs directorate, has said the Trump administration plans to launch an initiative to encourage public-private partnerships to address cyber threats and secure critical infrastructure, Nextgov reported Friday. He told audience at a Washington Post-hosted cyber forum Friday the planned …

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Nonprofit Group POGO Recommends Updates to Online Federal Spending Database

The Project on Government Oversight has called on the Treasury Department and the Office of Management and Budget to update the functionality of a web-based resource for federal spending information. Both agencies should work to address data search filter, presentation and reporting concerns related to USAspending.gov, the Washington, D.C.-based nonprofit organization said in a …

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Kimberly Reed Nominated Export-Import Bank President

Kimberly Reed, former president of the International Food Information Council Foundation, has been nominated by President Donald Trump to serve a four-year term as president of the Export-Import Bank. Prior to the foundation, Reed worked at the Treasury Department, where she led the Community Development Financial Institutions Fund and served …

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Sonny Bhagowalia Named CBP IT Deputy Assistant Commissioner

Sonny Bhagowalia, former chief information officer of the Treasury Department, has joined the Customs and Border Protection as deputy assistant commissioner at the agency’s information technology office, Federal Times reported Saturday. In his new role, Bhagowalia will lead CBP’s cybersecurity efforts and the development of automated interfaces between the agency and other …

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Fiscal Service Bureau Unveils New Website to Support US Govt Spending Transparency

The Treasury Department‘s Bureau of the Fiscal Service has launched a new website that features data visualization tools meant to provide information on U.S. government spending, Nextgov reported Thursday. Fiscal Service built the Data Lab site as part of the relaunch of USAspending.gov, which was created as part of congressionally-mandated government transparency …

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