Social Security Administration
Earns Highest Grade
in Government for Financial Management
The U.S. House of Representatives Committee on Reform, Subcommittee
on Government Efficiency, Financial Management and Intergovernmental
Relations has given the Social Security Administration (SSA) the
highest grade in the federal government for its financial management
SSA earned a "B" in the Subcommittee’s 2001 Financial
Management Status Report – the only agency to receive that high
a grade this year. In addition, SSA was the only one of 24 agencies
rated to see its grade improve, having earned a "B-" in
last year’s report.
"I am pleased that SSA received the highest grade in government
this year," said Jo Anne Barnhart, Commissioner of Social Security.
"SSA’s reputation for sound financial management is built on
the great work that our employees and managers do everyday. SSA
works hard to maintain the public’s trust, and will continue to
do so in the future."
The subcommittee grades are based on agencies’ annual audited financial
statements, which are required under the Government Management Reform
Act of 1994. This year, the subcommittee also assessed whether agencies’
financial systems can produce useful, reliable data on a real-time
basis to support day-to-day management and policy-making. This additional
grading criteria is in line with the President’s Management Agenda,
which assigns colors (green, yellow and red) instead of letters
to grade agencies’ performance.
"Financial management is one of the 5 key initiatives of the
President’s Management Agenda," said James Lockhart, Deputy
Commissioner of Social Security. "SSA is committed to getting
a green in financial management, as well as in the other 4 areas:
human capital management, competitive sourcing, eGovernment and
budget and performance integration."
More information about the 2001 Financial Management Status Report
can be found at the subcommittee’s website: http://www.house.gov/reform/gefmir/index.htm
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information and statistics,
are available at SSAs Internet site, Social Security
Online, at http://www.socialsecurity.gov.
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SSA Press Office 449
Altmeyer Bldg. 6401 Security Blvd. Baltimore, MD 21235
410-965-8904 FAX 410-966-9973