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U.S. Department of Education - FY 2009 Agency Financial Report

U.S. Department of Education - FY 2009 Agency Financial Report

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FY 2009 Agency Financial Report—U.S. Department of Education
U.S. Department of Education
Arne Duncan
Secretary 
Office of the Chief Financial Officer
Thomas Skelly
Delegated to Perform Functions of Chief Financial Officer 
 
November 16, 2009This report is in the public domain. Authorization to reproduce it in whole or in part is granted. While permission toreprint this publication is not necessary, the citation should be: U.S. Department of Education,
Agency Financial Report,
Washington D.C., 2009.This report is available on the Department’s Web site at:http://www.ed.gov/about/overview/focus/performance.html.On request, this publication is available in alternative formats, such as Braille, large print or computer diskette. Formore information, please contact the Department’s Alternate Format Center at 202-260-0852 or 202-260-0818.The Department’s
Strategic Plan 
is available on the Web at:http://www.ed.gov/about/reports/strat/index.html.Department annual plans and annual reports are available on the Web at:http://www.ed.gov/about/reports/annual/index.html.The Department welcomes all comments and suggestions on both the content and presentation of this report.Please forward them to:PARcomments@ed.govOffice of the Chief Financial OfficerU.S. Department of EducationWashington, D.C. 20202-0600
The following companies were contracted to assist in the preparation of theU.S. Department of Education FY 2009
Agency Financial Report 
:For general layout and Web design: ICF MacroFor database design: Plexus CorporationFor accounting services: IBM Business Consulting ServicesFMR Consulting, Inc.Cotton & Company, LLP
 
 
FY 2009 Agency Financial Report—U.S. Department of Education
FOREWORD
The United States Department of Education’s (the Department’s)
Agency Financial Report 
(AFR) for fiscal year(FY) 2009 provides an overview of the Department’s financial performance and results to provide Congress, thePresident and the American people detailed information about our stewardship over the financial resourcesentrusted to us. Additionally, the report provides information about our performance as an organization, ourachievements and initiatives and our challenges.The AFR is the first in a series of reports required under the Office of Management and Budget’s Pilot Programfor Alternative Approaches to Performance and Accountability Reporting. This is the first year that theDepartment has participated in this voluntary program in an effort to strengthen its annual reporting documentsand to present more streamlined and timely information to clarify the relationship between performance,budgetary resources and financial reporting. The Department intends to provide a more meaningful, transparentand easily understood analysis of accountability over its resources. The report provides readers with an overviewof the Department’s highest priorities, as well as our strengths and challenges.The Department’s FY 2009 pilot annual reporting includes the following three components:
Agency Financial Report 
(AFR)
 
[available November 2009]
 The AFR, the following report, is organized into three major sections:
The Management’s Discussion and Analysis section provides executive-level information on the Department’s history,mission, organization, key activities, analysis of financial statements, systems, controls and legal compliance,accomplishments for the fiscal year and management and performance challenges facing the Department.
The Financial Details section provides a Message From the Chief Financial Officer, consolidated and combined financialstatements, the Department’s notes to the financial statements and the Report of the Independent Auditors.
The Other Accompanying Information section provides
Improper Payments Information Act 
reporting details and otherstatutory reporting requirements.
Annual Performance Report 
(APR)
 
[available February 2010]
 The APR will be produced in conjunction with theFY 2011 President’s Budget Request and will providethe detailed performance information and descriptions ofresults by each key performance measure.
FY 2009
Summary of Performance and Financial 
 
Information 
 
[available February 2010]
 This document will provide an integrated overview ofperformance and financial information that integrate theAFR and the APR into a user-friendly consolidated format.
This report meets the following legislated reporting requirements:
 
Federal Managers’ Financial Integrity 
 
Act 
 
of 1982 
(
FMFIA
) requires a report on the status of internal controls and the agency’s mostserious problems.
 
Government Performance and Results Act of 1993 
(
GPRA
) guides the agency’s strategic planning and annual planning and reporting.
 
Federal Financial Management Improvement Act 
 
of 1996 
(
FFMIA
) requires an assessment of the agency’s financial systems foradherence to governmentwide requirements.
 
Government Management Reform Act 
 
of 1994 
(
GMRA
) requires agency audited financial statements.
 
Reports Consolidation Act 
 
of 2000 (RCA)
requires the consolidated reporting of performance, financial and related information.
 
Improper Payments Information Act of 2002 
(
IPIA
) requires reporting on agency efforts to identify and reduce erroneous payments.
All three reports will be available on the Department’s Web site athttp://www.ed.gov/about/overview/focus/performance.html

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