The committee will come to order. The Committee Welcomes mr. David norquist comptroller as our witness today. The topic is the audit of the department of defense, which by law begins this fiscal year. And i would just say its not by accident that the committee will start our year on this topic. Requiring that the Department Conduct an audit has been a bipartisan priority of this committee for some time. The chief Financial Office of 1990 required all federal departments conducted annual financial audit and partly out of frustration with a lack of progress toward that end that the department of defense. The 2010 required the Financial Statements of the department be ready for audit by september 30, 2017. This committees panel on defense Financial Management and reform put close scrutiny on the departments efforts and issued a number of recommendations that have been enabled us to arrive at this point. The 2014 required a full audit be conducted of the departments fy 18 Financial Stateme
The committee will come to order. The Committee Welcomes mr. David norquist, the undersecretary of defense, comptroller, and chief Financial Officer as our witness today. The topic is the audit of the department of defense, which by law begins this fiscal year. And i would just say its not by accident that the committee will start our year on this topic. Requiring that the Department Conduct an audit has been a bipartisan priority of this committee for some time. The chief Financial Officer act of 1990 required all federal departments conduct an annual financial audit and partly out of frustration with a lack of progress toward that end at the department of defense, the 2010 required the Financial Statements of the department be ready for audit by september 30, 2017. This committees panel on defense Financial Management and reform put close scrutiny on the departments efforts and issued a number of recommendations that have enabled us to arrive at this point. The 2014 ndea required a f
Are he canning a expecting a meeting meeting with the school bore and dont get answer they look for they may consider legal action. Care into you mentioned several states sued have there bush sarah you mentioned sara, you mentioned several states sued have there been any results. Reporter they are far from over and it wouldnt be surprising to see this go all the way to the supreme court. Okay. We are learning that parma school may have problem with math when it come to the budget a parent reviewed the budget line by line and found a 7 figure error. Andrew horansky is live in parma. Reporter good evening. This one appears to stem from a misplaced comma that could have gone unnoticed and tonight one that appears to be leaking to an audit here. Records parma parent reporter parma parent Amanda Karpus saw the treasure and audit fees should have been 1in to. 2 but 10. 2 was submitted. Thats a fact something that someone overlooked. Reporter today the district called a press conference to ad
It is, why isnt the sec requiring public Issuer Companies to disclose this information . Do you have any plans to engage in a rulemaking on this issue any time soon . As you know, we have two petition actually still pending before the sec to require such disclosure. If, in fact, in a particular company the political spending is material under the law, under the law that would be required to be disclosed. The petition is broader than that. Tibl senator and others are aware were focused on our mandated rulemakings under the doddfrank act. I do note a number of companies have voluntarily made those disclosures and that subject can also be and often is the subject of a proxy proposal. Well, i appreciate where you say your focus is. But when 1 million i think its very rare that you get 1 million Public Comments in support of a proposal. And even if you look at Justice Kennedys majority opinion in Citizens United airlines which opened the floodgates for corporate election spending and presum
Hear kind of the political dynamics i guess is what is going on in sacramento and how the opposition might be able to push that and i guess that the question that i was not able to ask you was how much further, is mtc, and some of our stake holders here trying to push on that definition of disadvantaged communities, and in a way that can help to give us a leg up on the cap and trade funds that you know we need, particularly around Affordable Housing . Or what are smf the specific amendments that can be made to the definition that would support. And yeah. Not being funded here pardon me. I do think that for example, and you know not being, and a technical expert, but kind of a journey man expert and the familiarity with this, and as some of the, and the issue of meeting multiple, components and where it was resolutions, and that would then free up the areas in this location, that have great exposure to the poe lunt ant and for example they have to meet that plus the other components bef