GAO: NASA still has accounting problems
October 28, 2005NASA's inability to balance its checkbook by tens of millions could hurt the space agency's chances to return to the moon by 2018, federal auditors said.
The Government Accountability Office said NASA has been advised to make 45 changes in its accounting procedures, but so far only three have been fixed and 13 others partly fixed, the Orlando (Fla.) Sentinel reported Friday.
"The lack of reliable, day-to-day information continues to threaten NASA's ability to manage its programs, oversee its contractors and effectively allocate its budget across its numerous projects and programs," said Gregory Kutz of the GAO.
However, NASA Chief Financial Officer Gwendolyn Sykes said the agency has made progress and had fixed 34 of the problems previously cited.
Several years ago, NASA's accounting problems led to a surprise $4.5 billion cost overrun on the international space station, said Allen Li of the GAO.
Some lawmakers said the agency's cost overruns might jeopardize NASA's $100 billion moon-Mars venture.
Copyright 2005 by United Press International
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