Testimony: Federal Payment Processes and Systems Related to the U.S. General Fund
Description
GAO Managing Director Kristen Kociolek testified about federal payment processes and systems related to the General Fund, and our knowledge of audit activities over these systems. This testimony is based on our recurring audits of the General Fund.
Treasury's Fiscal Service manages the General Fund systems that are critical to the government's financial infrastructure. For example, these systems disburse payments to American people and businesses; collect taxes and other revenue; and borrow the funds necessary to run the federal government.
In FY 2022, $23.2 trillion flowed into the General Fund and $22.8 trillion flowed out.
Treasury's Fiscal Service manages the General Fund systems that are critical to the government's financial infrastructure. For example, these systems disburse payments to American people and businesses; collect taxes and other revenue; and borrow the funds necessary to run the federal government.
In FY 2022, $23.2 trillion flowed into the General Fund and $22.8 trillion flowed out.
Date: Mar 11, 2025
Runtime: 00:05:14
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