Page 9 - Financial Report 2020
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PRIVACY AND CIVIL LIBERTIES OVERSIGHT BOARD
TABLE OF CONTENTS
ABOUT THIS REPORT ................................................................................................................................................................ II
HOW THIS REPORT IS ORGANIZED ....................................................................................................................................... III
KEY TERMS USED IN THIS REPORT ........................................................................................................................................ IV
MESSAGE FROM THE CHAIRMAN ............................................................................................................................................. 1
MANAGEMENT’S DISCUSSION AND ANALYSIS ........................................................................................................................ 3
Vision, Mission, and Core Values .................................................................................................................................... 3
Board History and Authorities ........................................................................................................................................ 4
Our Organization ................................................................................................................................................................... 6
Performance Overview ....................................................................................................................................................... 7
Financial Summary and Highlights ............................................................................................................................ 19
Analysis of Systems, Controls, and Legal Compliance ........................................................................................ 26
Federal Managers’ Financial Integrity Act FY 2020 Unmodified Management Assurance
Statement ............................................................................................................................................................................... 32
Forward-Looking Information ..................................................................................................................................... 33
FINANCIAL INFORMATION ..................................................................................................................................................... 35
Message from the Chief Financial Officer ................................................................................................................ 35
Report of Independent Auditors ................................................................................................................................. 37
Audited Financial Statements ....................................................................................................................................... 42
Notes to the Financial Statements .............................................................................................................................. 46
OTHER INFORMATION ............................................................................................................................................................ 59
Summary of Financial Statement Audit and Management Assurances ...................................................... 59
Payment Integrity Information Act of 2019 ........................................................................................................... 61
FY 2020 Fraud Reduction Act ....................................................................................................................................... 62
APPENDIX: GLOSSARY OF ACRONYMS .................................................................................................................................. 63
FY 2020 AGENCY FINANCIAL REPORT v
