Financial Management: November 2017 Archives

NASA Office of Inspector General Annual Report April - September 2017

"Specifically, despite spending almost $200 million on three spacesuit development efforts, NASA remains years away from having a spacesuit capable of replacing the suits used on the ISS or suitable for use on future exploration missions. Furthermore, given the current development schedule, there is significant risk a next-generation prototype will not be sufficiently mature for testing on the ISS prior to the Station's planned 2024 retirement. In addition, we questioned NASA's decision to spend $80.8 million between 2011 and 2016 to fund a spacesuit development effort despite parallel development activities being conducted elsewhere in the Agency. NASA management concurred with and described corrective actions to address our three recommendations."

"In August 2013, NASA entered into an agreement with the Army Corps of Engineers to build two test stands at Marshall Space Flight Center (Marshall) to test liquid hydrogen and liquid oxygen tanks from the core stage of the Agency's new heavy-lift rocket. Our review found that the compressed project schedule, uncertain requirements, and design changes resulted in significant cost increases for the project. In addition, NASA did not adequately consider alternative locations before selecting Marshall as the site for the test stands and therefore cannot ensure it made the most cost-effective decision regarding where to build the stands."

NASA's Fiscal Year 2017 Financial Audit Result

"NASA has received an unmodified audit opinion on its Fiscal Year 2017 (FY 2017) financial statements, making this the seventh consecutive year of "clean" opinions. The agency released its FY 2017 Agency Financial Report (AFR) Wednesday, which provides details on its financial results and performance highlights."

NASA FY 2017 Financial Report

"NASA did not substantially address deficiencies in its vulnerability management program, which continued to inadequately address monitoring, detecting, and timely remediation of vulnerabilities associated with their financial application and general support systems. Additionally, management did not substantially address control failures at the Financial System Application layer. Therefore, the prior year Significant Deficiency 1 remains open and was renamed "Information Technology Management" in fiscal year 2017."



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This page is an archive of entries in the Financial Management category from November 2017.

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