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FY 2001 Performance and Accountability Report Homepage A Message from the Director A Message from the Chief Financial Officer OPM at a Glance Highlights and Management Accomplishments

A MESSAGE FROM THE CHIEF FINANCIAL OFFICER

am pleased to present the Office of Personnel Management's fiscal year 2001 Performance and Accountability Report, which integrates results-oriented performance information with financial information about our agency. We hold in trust over $500 billion in assets that belong to our primary stakeholders, Federal employees and retirees, and their survivors and dependents. We recognize fully the importance of earning their confidence in our financial stewardship.

In this light, we have once again received an unqualified ("clean") opinion on our consolidated financial statements from the independent accounting firm KPMG LLP. I think KPMG's opinion conveys a clear message about our commitment to sound financial management. This accomplishment required a tremendous effort from individuals at all levels—from the recording of transactions, through the preparation and auditing of the financial statements. Their efforts are recognized and appreciated.

We made substantial progress this year on critical financial management systems initiatives. First and foremost, we implemented a modern core financial management system to support our Revolving Fund Program and Salaries and Expense account. This milestone will allow us to resolve the serious management control and financial management systems weaknesses we reported in last year's Performance and Accountability Report. Further, we have entered into an agreement to have our payroll and other administrative services cross-serviced, enabling us to abandon several aging, proprietary systems. These actions will enable us to redirect our resources and efforts toward additional financial management improvements in support of the President's Management Agenda.

While we have made strides in improving financial management, we recognize that much work remains. To meet our financial stewardship responsibilities to our stakeholders, we will continue to improve our effectiveness, trustworthiness, reliability, and most importantly, the quality of our customer service.

Kathleen M. McGettigan
Chief Financial Officer
U.S. Office of Personnel Management

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