Treasury, GSA partner to reward feds who ID wasteful contract spending

"As part of a joint initiative launched today by the Treasury Department in partnership with the General Services Administration, federal employees who identify wasteful spending in the tax agency's contracts that ultimately leads to cost reductions could receive a financial award of up to $10,000. The Savings Award for Verified Efficiencies, or SAVE, program will be applicable across the Treasury Department, which has"

"Treasury's Office of the Procurement Executive, or OPE, will review cost-savings proposals from eligible employees and can approve a SAVE record, after which GSA must independently review the case and coordinate with OPE to address issues and confirm details. GSA is responsible for validating that a contract termination or scope reduction occurred as described, confirming the accuracy of claimed savings and ensuring savings are directly attributable to the submitting employee's actions."

The Treasury Department and the General Services Administration created the Savings Award for Verified Efficiencies (SAVE) to reward eligible Treasury employees up to $10,000 for identifying contract cost reductions. Non-Senior Executive Service federal GS or GS-equivalent employees can submit proposals for contract cancellations, descopes, or other cost-reducing actions within their program area. Treasury's Office of the Procurement Executive will review and can approve SAVE records, after which GSA will independently validate actions, confirm claimed savings accuracy, and ensure savings are attributable to the submitting employee. GSA concurrence is required before any monetary award. Treasury comprises about 100,000 employees across bureaus including the IRS and U.S. Mint.

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