Federal inspectors general (IG) – who serve as agency watchdogs – saved $71.1 billion in cost efficiency improvements in fiscal year (FY) 2024, according to a March 19 report from the Council of the Inspectors General on Integrity and Efficiency (CIGIE).
The CIGIE report found that within the $71.1 billion saved in Federal agencies, inspectors general attributed $52.7 billion to audit recommendations and $18.4 billion to investigative receivables and recoveries, which reflects the results of criminal and civil trials as well as voluntary repayments.
“There are more than 70 independent OIGs and about 14,000 OIG employees working to oversee Federal operations and detect and prevent fraud, waste, abuse, and misconduct through Federal programs,” said CIGIE Acting Chair Tammy Hall.
“CIGIE is proud to contribute to and support the IG community’s collective efforts that promote responsive, accountable, and transparent government programs and operations,” Hall added.
To provide billions in savings, the report highlighted that it issued 2,042 audit, inspection, and evaluation reports and conducted investigations that resulted in 3,675 criminal prosecutions and 1,015 civil actions.
Savings in audit recommendations come from inspectors general providing advice on ways agencies can improve, which includes better management practices and procedures, better ways to use agency funds, and questioning expenditures.
“Recommendations that funds be put to better use tell agency management that taking action to implement the recommendations would result in the more efficient or effective use of funds,” the report reads. “Such actions could include reducing outlays, deobligating funds, and avoiding unnecessary expenditures.”
The report highlighted that the offices of inspectors general (OIG) aggregate budget for FY2024 was $3.9 billion, which means the savings found represented approximately $18 for every dollar invested in the budget.
The IGs’ reported FY2024 savings of $71.1 billion fall in line with recent years savings. CIGIE reported $93.1 billion in savings in FY2023; $70.1 billion in FY2022; and $74.7 billion in FY2021.
The last time a CIGIE report exceeded $55 billion in anticipated savings was in FY2011 when anticipated savings were $93.9 billion.
“This report is a comprehensive summary of who we are, what we do, and how we help the American taxpayers every day,” Hall said.
