Browsing: Treasury

TVA privatization proposal still a live wire

0

President Obama’s fiscal 2014 budget request may be moribund on Capitol Hill, but one hot-button proposal buried deep within it appears to be very much alive: Taking a close look at the option of selling off the Tennessee Valley Authority, the government-owned electric utility. The administration has launched a strategic review that’s delving into issues like “de-federalization,” the implications of a change in TVA ownership for economic development and how to deal with the agency’s assets, according to a rundown of “stakeholder outreach discussion items” provided to FedLine by the International Federation of Professional and Technical Engineers, a union representing about one-fifth of TVA’s some…

TIGTA keeping emails under wraps in tax exempt probe

0

The highly publicized government watchdog report back in May that found the IRS tax exempt division singled out conservative groups for scrutiny often cited internal emails to help back up those findings. The Treasury Inspector General for Tax Administration (TIGTA) cited email source material, for instance, in referring to a June 29, 2011 internal briefing paper, which the report said showed how a team of specialists would review any nonprofit applicants with words such as Tea Party or Patriots in a case file. Democrats have since pointed out that progressive groups faced scrutiny from the IRS, too, accusing TIGTA of…

Probe finds personal ties, old injury aided IRS contractor

0

A high school  injury nearly three decades ago enabled the owner of a contracting company to claim service disabled veteran status last year, opening the door to contracts worth up to a half billion dollars, a House investigation has found. Braulio Castillo, owner Signet Computers, which has been renamed Strong Castle, injured his ankle in the fall of 1984 during his year at the U.S. Military Academy Preparatory School, but would later go on to play quarterback and linebacker the next year at the University of San Diego, according to a 157-page report Tuesday by the House Committee on Oversight…

Association of Government Accountants honors agency reporting

0

Twenty agencies big and small were recently noted for top-notch financial and performance reporting by the Association of Government Accountants. The “Certificate of Excellence in Accountability Reporting” (CEAR)  singles out “high-quality Performance and Accountability Reports (PARs) and Annual Financial Reports (AFRs) that effectively illustrate and assess financial and program performance, accomplishments and challenges, cost and accountability,” the accountants association said in a news release. The association also spotlights the teams of dedicated federal professionals who (often unsung) put the reports together. “Given the fiscal status of the United States government and the public’s perceptions about government fiscal accountability and transparency,…

The best of "Silver Screen Feds" from movies and television

0

Hello everyone, My name is Andy and if you haven’t guessed it yet, I am one of the reporters here at the Federal Times. For the last few weeks we have had a new feature on our blog, “Silver Screen Feds,” where we look at famous federal employees in cinema and television. This week my partner-in-crime and colleague Steve Losey is spending time with his family, so instead of doing all the work myself, you guys get a clip-show version of everything we have done so far. Below are each of our entries in the ongoing series, so feel free…

SILVER SCREEN FEDS: 'The Untouchables,' 'Boardwalk Empire'

0

This week’s edition of Silver Screen Feds goes back to the Roaring Twenties and the lawless days of Prohibition, to look at the best and worst Treasury agents who ever busted up a still on-screen: Legendary lawman Eliot Ness from the 1987 film “The Untouchables,” and deeply disturbed Agent Nelson Van Alden from HBO’s series “Boardwalk Empire.” BEST FEDS: Eliot Ness, Treasury Department, “The Untouchables” (Andy Medici) How do you take down one of the most notorious criminals in America’s history? How do you capture and convict a man responsible for gang violence, murder and untold corruption? Why, with a…

G-Fund again saving the world (temporarily)

5

If you have money invested in the Thrift Savings Plan’s G-Fund, take a bow. Your retirement nest egg is now part of a strategy to stave off worldwide financial calamity. That’s because the Treasury Department intends to intentionally stiff the fund as one of several “extraordinary measures” announced last month to buy time after the government hit its legal $16.4 trillion debt ceiling Dec. 31. Here’s how it works: the fund—technically known as the Government Securities Investment Fund—is continually re-invested in short-term government bonds. Because those bonds count toward the debt ceiling, Treasury suspends re-investments to free up more borrowing “headroom.” The…

G-Fund and postal benefits fund made whole, GAO says

0

It’s official: The Thrift Savings Plan’s G-Fund is back to full strength after losing almost $400 million courtesy of last year’s debt ceiling showdown. The confirmation comes from a Government Accountability Office review of the Treasury Department’s maneuvering to head off an unprecedented U.S. default after Congress initially deadlocked over raising the nation’s borrowing limit. The standoff was resolved (at least temporarily) last August with approval of the Budget Control Act, which traded a debt-ceiling increase for spending cuts. But in the months before the act’s passage, Treasury resorted to a number of “extraordinary actions” to buy time. One involved…

The secret federal careers of four famous people

2

Federal employees have taken a lot of heat over the last few years. They are called overpaid and underworked. The fight over their pay and benefits has been well documented. But some famous people have had not so famous careers within the federal government. Here are a few. 4. Abraham Lincoln Yes, yes, I know he was a member of Congress and one of our most famous presidents. But did you also know he was the Postmaster in New Salem, Ill, for almost three years? He became postmaster on May 7, 1833 and lost the position when the post office…

Treasury headquarters attains LEED Gold certification.

1

The Treasury Department announced today that their headquarters has attained LEED Gold certification by the U.S. Green Building Council. Gold is the second-highest rating. The building was made more energy and water efficient, resulting in a 7 percent decrease in electricity use and a 53 percent decrease in steam use over 2008 levels. “The fact that the home of much our nation’s financial history has achieved this distinction for environmental leadership adds new meaning to the term ‘green’ building,” said Assistant Secretary for Management Dan Tangherlini. “We’re proud of the improvements we’ve made around the Treasury Building – both big…

1 2 3 5