Repeal CFO Act of 1990

The government spends billions of dollars to developing systems and processes to produce financial statements to compile with the CFO Act of 1990. Each agency has own accounting group or agency that produce public statements. This isn’t practical since the government is a non-profit organization. After all, schools and hospitals have their own type of statements. Recommend that (1) repeal the CFO Act 1990 and related laws. (2) Consolidate all accounting, disbursing, and contracting into one federal agency. Develop realistic statements that monitor that public trust. All expenditures can be linked to an agency code to develop individual statements. (3) Finally, that expenditures has a one page justification for the reason and need of the expenditure.