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- Title
Federal Financial Management.
- Authors
Bowsher, Charles A.; Boddie, John W.
- Abstract
The article focuses on the consequences of the United States federal government's reliance on financial management systems in developing public expenditure policies. The article further reports that the federal government continues to rely on financial management systems that despite improvement efforts over many years are of second-rate. Decision makers at all levels of the federal government are not getting the financial information they need to help make policy and management decisions and to know the ultimate financial impact of those decisions. This information gap becomes especially critical as the government grapples with the deficit and is faced with difficult spending alternatives. The basic structure of many of the current financial systems was laid out in World War II and built around vintage 1950 concepts, despite the major advances in computer and telecommunications technology. The systems are antiquated and in a general state of disrepair. Hundreds of millions of dollars have been spent each year on uncoordinated efforts to upgrade these systems. In the meantime, costly as they are to operate and maintain, the old systems do not produce complete, timely, and reliable financial data.
- Subjects
UNITED States; FMS (Information retrieval system); FEDERAL government; FINANCIAL management; PUBLIC finance; GOVERNMENT spending policy
- Publication
Public Budgeting & Finance, 1989, Vol 9, Issue 2, p91
- ISSN
0275-1100
- Publication type
Article
- DOI
10.1111/1540-5850.00821