Publisher's Synopsis
Excerpt from H. R. 3400, Government Reform and Savings Act: Hearing Before the Committee on Governmental Affairs, United States Senate, One Hundred Third Congress, First Session
But I think that in the Defense Department, when you are talk ing about $260 billion and you have services there at $80, $90 bil lion of budgets and $300 billion of assets, it makes all the sense in the world to have separate statements there. I think like at Treasury it makes a lot of sense to have separate statements for the Customs department and for the irs department.
It is kind of like the big holding companies in the private sector. In other words, when you have manufacturing facilities and banks and insurance companies and everything like that, you ask for sep arate statements on those in addition to the consolidated state ment. And so I think we ought to figure out the major breakdown of the Government in the same way and the same on big funds. And we have done that as part of the pilot. If you think about it, Mr. Chairman, we have audited some of the big funds. We have also audited some of the department-wide statements.
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