The Government Accountability Office (GAO) claims it saved the Federal government $70.4 billion during Fiscal Year (FY) 2023 by recommending ways to improve efficiency and effectiveness in Federal programs, according to a new report.
In its annual Performance and Accountability Report, GAO explained that during the past year, it provided lawmakers with timely information on a range of challenges and priorities.
Recapping the year, GAO said it issued 671 total products, made 1,345 new recommendations, and testified 57 times before 32 separate committees or subcommittees on topics including the 2023 bank failures, pandemic-related fraud, improving servicemembers’ transition to civilian life, and using AI responsibly.
According to the Federal watchdog, this work resulted in “$70.4 billion in financial benefits for Congress and the American people – a return of approximately $84 for each dollar invested in GAO.”
For example, GAO reported $27.1 billion in savings as a direct result of its reporting on Federal agencies’ unused COVID-19 response and recovery funding. Lawmakers were able to leverage these reports to pass the Fiscal Responsibility Act of 2023, which required certain agencies to return unused funds to the Department of the Treasury.
GAO also reported $32.9 billion in financial benefits from its FY 2023 High-Risk List, reporting on 37 areas vulnerable to fraud, waste, abuse, and mismanagement or in need of transformation.
“The work GAO achieved in FY 2023 on behalf of Congress and the American people demonstrates GAO’s persistent commitment to transparency and promoting better management of the Federal government,” Gene L. Dodaro, U.S. Comptroller General and the head of GAO said in a statement.
In addition to the financial benefits, GAO also claimed that it identified an additional 1,220 benefits, which cannot be measured financially.
For example, GAO’s Science, Technology Assessment, and Analytics (STAA) team issued products on synthetic biology, advanced batteries, regenerative medicine, and fusion energy. It also collaborated closely with Senate and House staff – including hosting them in STAA’s Innovation Lab – to discuss wide-ranging challenges related to AI and support their efforts to develop AI legislation.
In addition, GAO’s Fraud Risk Management Framework led OMB to clarify guidelines to help Federal agencies manage the risk of fraud. GAO also said its work led the Treasury Department, which manages over $31 trillion in debt, to implement IT controls to further protect sensitive data.
“The exceptional work and commitment of GAO employees and the continued support of Congress enables GAO to carry out our mission of oversight while improving government operations and programs for all Americans,” Dodaro said.
