0:'document certified by government publishing office pkisupport@gpo.gov signed by government publishing office pkisupport@gpo.gov time: 2022.12.24 10:13:59 0500 reason: government publishing',
1:'office attests that this document has not been altered since it was disseminated by government publishing office location: government publishing',
2:'office, washington, dc 20401 public law 101576—nov. 15, 1990 104 stat. 2839 ment and in each major executive agency in',
3:'the federal government. 2provide for improvement, in each agency of the federal government, of systems of accounting, financial management, and',
4:'internal controls to assure the issuance of reliable financial information and to deter fraud, waste, and abuse of government resources.',
5:'3 provide for the production of complete, reliable, timely, and consistent financial information for use by the executive branch of',
6:'the government and the congress in the financing, management, and evaluation of federal programs. title ii—establishment of chief financial officers',
7:'sec. 201. deputy director for management. section 502 of title 31, united states code, as amended by this act, is',
8:'amended— 1by redesignating subsections c, d, and e, as amended by this section, as subsections d, e, and f; and',
9:'2by inserting after subsection b the following: c the office has a deputy director for management appointed by the president,',
10:'by and with the advice and consent of the senate. the deputy director for management shall be the chief official',
11:'responsible for financial management in the united states government.. sec. 202. functions of deputy director for management. a clerical amendments.—sections',
12:'503 and 504 of title 31, united states code, are redesignated in order as sections 505 and 506, respectively. b',
13:'functions of deputy director for management.—subchapter i of chapter 5 of title 31, united states code, is amended by inserting',
14:'after section 502 the following: § 503. functions of deputy director for management a subject to the direction and approval',
15:'of the director, the deputy director for management shall establish governmentwide financial management policies for executive agencies and shall perform',
16:'the following financial management functions: 1 perform all functions of the director, including all functions delegated by the president to',
17:'the director, relating to financial management. 2 provide overall direction and leadership to the executive branch on financial management matters',
18:'by establishing financial management policies and requirements, and by monitoring the establishment and operation of federal government financial management systems.',
19:'3 review agency budget requests for financial management systems and operations, and advise the director on the resources required to',
20:'develop and effectively operate and maintain federal government financial management systems and to correct major deficiencies in such systems. 4',
21:'review and, where appropriate, recommend to the director changes to the budget and legislative proposals of agencies to ensure that',
22:'they are in accordance with financial management plans of the office of management and budget. 104 stat. 2840 public law',
23:'101576—nov. 15, 1990 5 monitor the financial execution of the budget in relation to actual expenditures, including timely performance reports.',
24:'6 oversee, periodically review, and make recommendations to heads of agencies on the administrative structure of agencies with respect to',
25:'their financial management activities. 7 develop and maintain qualification standards for agency chief financial officers and for agency deputy chief',
26:'financial officers appointed under sections 901 and 903, respectively. 8 provide advice to agency heads with respect to the selection',
27:'of agency chief financial officers and deputy chief financial officers. 9 provide advice to agencies regarding the qualifications, recruitment, performance,',
28:'and retention of other financial management personnel. 10 assess the overall adequacy of the professional qualifications and capabilities of financial',
29:'management staffs throughout the government and make recommendations on ways to correct problems which impair the capacity of those staffs.',
30:'11 settle differences that arise among agencies regarding the implementation of financial management policies. 12 chair the chief financial officers',
31:'council established by section 302 of the chief financial officers act of 1990. 13 communicate with the financial officers of',
32:'state and local governments, and foster the exchange with those officers of information concerning financial management standards, techniques, and processes.',
33:'14 issue such other policies and directives as may be necessary to carry out this section, and perform any other',
34:'function prescribed by the director. b subject to the direction and approval of the director, the deputy director for maneigement',
35:'shall establish general management policies for executive agencies and perform the following general management functions: 1 coordinate and supervise the',
36:'general management functions of the office of management and budget. 2 perform all functions of the director, including all functions',
37:'delegated by the president to the director, relating to— a managerial systems, measurement of performance; b procurement policy; including the',
38:'systematic c grant, cooperative agreement, and assistance management; d information and statistical policy; e property management; f human resources management;',
39:'g regulatory affairs; and h other mansigement functions, including organizational studies, longrange planning, program evaluation, productivity improvement, and experimentation and',
40:'demonstration programs. 3 provide complete, reliable, and timely information to the president, the congress, and the public regarding the management',
41:'activities of the executive branch. 4 facilitate actions by the cjongress and the executive branch to improve the management of',
42:'federal government operations and to remove impediments to effective administration. public law 101576—nov. 15, 1990 104 stat. 2841 5 provide',
43:'leadership in management innovation, through— a experimentation, testing, and demonstration programs; and b the adoption of modern management concepts and',
44:'technologies. 6 work with state and local governments to improve and strengthen intergovernmental relations, and provide assistance to such governments',
45:'with respect to intergovernmental programs and cooperative arrangements. 7 review and, where appropriate, recommend to the director changes to the',
46:'budget and legislative proposals of agencies to ensure that they respond to program evaluations by, and are in accordance with',
47:'general management plans of, the office of management and budget. 8 provide advice to agencies on the qualification, recruitment, performance,',
48:'and retention of managerial personnel. 9 perform any other functions prescribed by the director.. sec. 203. office of federal financial',
49:'management. a estabushment.—subchapter i of chapter 5 of title 31, united states code, as amended by this act, is amended',
50:'by inserting after section 503 as added by section 202 of this act the following: § 504. ofhce of federal',
51:'financial management a there is established in the office of management and budget an office to be known as the',
52:'office of federal financial management. the office of federal financial management, under the direction and control of the deputy director',
53:'for management of the office of management and budget, shall carry out the financial management functions listed in section 503a',
54:'of this title. b there shall be at the head of the office of federal financial management a controller, who',
55:'shall be appointed by the president, by and with the advice and consent of the senate. the controller shall be',
56:'appointed from among individuals who possess— 1 demonstrated ability and practical experience in accounting, financial management, and financial systems; and',
57:'2 extensive practical experience in financial management in large governmental or business entities. c the controller of the office of',
58:'federal financial management shall be the deputy and principal advisor to the deputy director for management in the performance by',
59:'the deputy director for management of functions described in section 503a.. b statement of appropriations in budget.—section 1105a of title',
60:'31, united states code, is amended by adding at the end the following: 28 a separate statement of the amount',
61:'of appropriations requested for the office of federal financial management.. c clerical amendment.—the table of contents at the beginning of',
62:'chapter 5 of title 31, united states code, is amended by striking the items relating to sections 503 and 504',
63:'and inserting the following: 503. functions of deputy director for management. 504. office of federal financial management. 505. office of',
64:'information and regulatory affairs. 506. office of federal procurement policy.. : i 104 stat. 2842 public law 101576—nov. 15, 1990',
65:'31 use 501 note. sec. 204. duties and functions of the department of the treasury. nothing in this act shall',
66:'be construed to interfere with the exercise of the functions, duties, and responsibilities of the department of the treasury, as',
67:'in effect immediately before the enactment of this act. sec. 205. agency chief financial officers. a in general.—subtitle i of',
68:'title 31, united states code, is amended by adding at the end the following new chapter: chapter 9—agency chief financial',
69:'officers sec. 901. establishment of agency chief financial officers. 902. authority and functions of agency chief fintmcial officers. 903. establishment',
70:'of agency deputy chief financial officers. § 901. establishment of agency chief financial officers a there shall be within each',
71:'agency described in subsection b an agency chief financial officer. each agency chief financial officer shall— 1 for those agencies',
72:'described in subsection bxd— a be appointed by the president, by and with the advice and consent of the senate;',
73:'or b be designated by the president, in consultation with the head of the agency, from among officials of the',
74:'agency who are required by law to be so appointed; 2 for those agencies described in subsection otx2— a be',
75:'appointed by the head of the g^ency; b be in the competitive service or the senior executive service; and c',
76:'be career appointees; and 3 be appointed or designated, as applicable, from among individuals who possess demonstrated ability in general',
77:'maneigement of, and knowledge of and extensive practical experience in financial management practices in large governmental or business entities. bxd',
78:'the agencies referred to in subsection axd are the following: a the department of agriculture. b the department of commerce.',
79:'c the department of defense. d the department of education. e the department of energy. f the department of health',
80:'and human services. g the department of housing and urban development. h the department of the interior. i the department',
81:'of justice. j the department of labor. k the department of state. l the department of transportation. m the department',
82:'of the treasury. n the department of veterans affairs. o the environmental protection agency. p the national aeronautics and space',
83:'administration. 2 the agencies referred to in subsection ax2 are the following: public law 101576—nov. 15, 1990 104 stat. 2843',
84:'a the agency for international development. b the federal emergency management agency. c the general services administration. d the national',
85:'science foundation. e the nuclear regulatory commission. f the office of personnel management. g the small business administration. § 902.',
86:'authority and functions of agency chief financial offlcers a an agency chief financial officer shall— 1 report directly to the',
87:'head of the agency regarding financial management matters; 2 oversee all financial management activities relating to the programs and operations',
88:'of the agency; 3 develop and maintain an integrated agency accounting and financial management system, including financial reporting and internal',
89:'controls, which— a complies with applicable accounting principles, standards, and requirements, and internal control standards; b complies with such policies',
90:'and requirements as may be prescribed by the director of the office of management and budget; c complies with any',
91:'other requirements applicable to such systems; and d provides for— i complete, reliable, consistent, and timely information which is prepared',
92:'on a uniform basis and which is responsive to the financial information needs of agency management; ii the development and',
93:'reporting of cost information; iii the integration of accounting and budgeting information; and iv the systematic measurement of performance; 4',
94:'make recommendations to the head of the agency regarding the selection of the deputy chief financial officer of the agency;',
95:'5 direct, manage, and provide policy guidance and oversight of agency financial management personnel, activities, and operations, including— a the',
96:'preparation and annual revision of an agency plan to— i implement the 5year financial management plan prepared by the director',
97:'of the office of management and budget under section 3512a3 of this title; and ii comply with the requirements established',
98:'under sections 3515 and subsections e and f of section 3521 of this title; b the development of agency financial',
99:'management budgets; c the recruitment, selection, and training of personnel to carry out agency financial management functions; d the approval',
100:'and management of agency financial management systems design or enhancement projects; e the implementation of agency asset management systems, including',
101:'systems for cash management, credit 104 stat. 2844 public law 101576—nov. 15, 1990 reports. reports. management, debt collection, and property',
102:'and inventory management and control; 6 prepare and transmit, by not later than 60 days after the submission of the',
103:'audit report required by section 3521f of this title, an annual report to the agency head and the director of',
104:'the office of management and budget, which shall include— a a description and analysis of the status of financial management',
105:'of the agency; b the annual financial statements prepared under section 3515 of this title; c the audit report transmitted',
106:'to the head of the agency under section 3521f of this title; d a summary of the reports on internal',
107:'accounting and administrative control systems submitted to the president and the congress under the amendments made by the federal managers',
108:'financial integrity act of 1982 public law 97255; and e other information the head of the agency considers appropriate to',
109:'fully inform the president and the congress concerning the financial management of the agency; 7 monitor the financial execution of',
110:'the budget of the agency in relation to actual expenditures, and prepare and submit to the head of the agency',
111:'timely performance reports; and 8 review, on a biennial basis, the fees, royalties, rents, and other charges imposed by the',
112:'agency for services and things of value it provides, and make recommendations on revising those charges to reflect costs incurred',
113:'by it in providing those services and things of value. bxd in addition to the authority otherwise provided by this',
114:'section, each agency chief financial officer— a subject to paragraph 2, shall have access to all records, reports, audits, reviews,',
115:'documents, papers, recommendations, or other material which are the property of the agency or which are available to the agency,',
116:'and which relate to programs and operations with respect to which that agency chief financial officer has responsibilities under this',
117:'section; b may request such information or assistance as may be necessary for carrying out the duties and responsibilities provided',
118:'by this section from any federal, state, or local governmental entity; and c to the extent and in such amounts',
119:'as may be provided in advance by appropriations acts, may— i enter into contracts and other arrangements with public agencies',
120:'and with private persons for the preparation of financial statements, studies, analyses, and other services; and ii make such payments',
121:'as may be necessary to carry out the provisions of this section. 2 except as provided in paragraph ixb, this',
122:'subsection does not provide to an agency chief financial officer any access greater than permitted under any other law to',
123:'records, reports, audits, reviews, documents, papers, recommendations, or other material of any office of inspector general established under the inspector',
124:'general act of 1978 5 u.s.c. app.. public law 101576—nov. 15, 1990 104 stat. 2845 § 903. establishment of agency',
125:'deputy chief financial ofhcers a there shall be within each agency described in section 901b an agency deputy chief financial',
126:'officer, who shall report directly to the agency chief financial officer on financial management matters. the position of agency deputy',
127:'chief financial officer shall be a career reserved position in the senior executive service. b consistent with qualification standards developed',
128:'by, and in consultation with, the agency chief financial officer and the director of the office of management and budget,',
129:'the head of each agency shall appoint as deputy chief financial officer an individual with demonstrated ability and experience in',
130:'accounting, budget execution, financial and management analysis, and systems development, and not less than 6 years practical experience in financial',
131:'management at large governmental entities.. b clerical amendment.—the table of chapters at the beginning of subtitle i of title 31,',
132:'united states code, is amended by adding at the end the following: 9. agency chief financial officers 901.. c chief',
133:'financial officers of department of veterans af31 use 90i note. fairs and department of housing and urban development.— 1 designation.—the',
134:'secretary of veterans affairs and the secretary of housing and urban development may each designate as the agency chief financial',
135:'officer of that department for purposes of section 901 of title 31, united states code, as amended by this section,',
136:'the officer designated, respectively, under section 4c of the department of veterans affairs act 38 u.s.c. 201 note and section',
137:'4e of the department of housing and urban development act 42 u.s.c. 3533e, as in effect before the effective date',
138:'of this act. 2 conforming amendment.—section 4c of the department of veterans affairs act 38 u.s.c. 201 note and section',
139:'4e of the department of housing and urban development act 42 u.s.c. 3533e, as added by section 121 of public',
140:'law 101235, are repealed. sec. 206. transfer of functions and personnel of agency chief 31 usc 901 note. financial officers.',
141:'a agency reviews of financial management activities.— not later than 120 days after the date of the enactment of this',
142:'act, the director of the office of management and budget shall require each agency listed in subsection b of section',
143:'901 of title 31, united states code, as amended by this act, to conduct a review of its financial management',
144:'activities for the purpose of consolidating its accounting, budgeting, and other financial management activities under the agency chief financial officer',
145:'appointed under subsection a of that section for the agency. b reorganization proposal.—not later than 120 days after the issuance',
146:'of requirements under subsection a and subject to all laws vesting functions in particular officers and employees of the united',
147:'states, the head of each agency shall submit to the director of the office of management and budget a proposal',
148:'for reorganizing the agency for the purposes of this act. such proposal shall include— 1 a description of all functions,',
149:'powers, duties, personnel, property, or records which the agency chief financial officer is proposed to have authority over, including those',
150:'relating to 104 stat. 2846 public law 101576—nov. 15, 1990 functions that are not related to financial management activities; and',
151:'2 a detailed outline of the administrative structure of the office of the agency chief financial officer, including a description',
152:'of the responsibility and authority of financial management personnel and resources in agencies or other subdivisions as appropriate to that',
153:'agency. c review and approval of proposal.—not later than 60 days after receiving a proposal from the head of an',
154:'agency under subsection b, the director of the office of management and budget shall approve or disapprove the proposal and',
155:'notify the head of the agency of that approval or disapproval. the director shall approve each proposal which establishes an',
156:'agency chief financial officer in conformance with section 901 of title 31, united states code, as added by this act,',
157:'and which establishes a financial management structure reasonably tailored to the functions of the agency. upon approving or disapproving a',
158:'proposal of an agency under this section, the director shall transmit to the head of the agency a written notice',
159:'of that approval or disapproval. d implementation of proposal.—upon receiving written notice of approval of a proposal under this section',
160:'from the director of the office of management and budget, the head of an agency shall implement that proposal. sec.',
161:'207. compensation. a compensation, level ii.—section 5313 of title 5, united states code, is amended by adding at the end',
162:'the following: deputy director for management, office of management and budget.. b compensation, level iiisection 5314 of title 5, united',
163:'states code, is amended by adding at the end the following: controller, office of federal financial management, office of management',
164:'and budget.. c compensation, level iv.—section 5315 of title 5, united states code, is amended by adding at the end',
165:'the following: chief financial officer, department of agriculture. chief financial officer, department of commerce. chief financial officer, department of defense.',
166:'chief financial officer, department of education. chief financial officer, department of energy. chief financial officer, department of health and human',
167:'services. chief financial officer, department of housing and urban development. chief financial officer, department of the interior. chief financial officer,',
168:'department of justice. chief financial officer, department of labor. chief financial officer, department of state. chief financial officer, department of',
169:'transportation. chief financial officer, department of the treasury. chief financial officer, department of veterans affairs. chief financial officer, environmental protection',
170:'agency. chief financial officer, national aeronautics and space administration.. public law 101576—nov. 15, 1990 104 stat. 2847 title iii—enhancement of',
171:'federal financial management activities sec. 301. financial management status report; 5year plan of director of office of management and budget.',
172:'ain general.—section 3512 of title 31, united states code, is amended by striking the heading thereof, redesignating subsections athrough f',
173:'in order as subsections b through g, and by inserting before such subsection b, as so redesignated, the following: §',
174:'3512. executive agency accounting and other flnancial management reports and plans axd the director of the office of management and',
175:'budget shall prepare and submit to the appropriate committees of the congress a financial management status report and a governmentwide',
176:'5year financial management plan. 2 a financial management status report under this subsection shall include— a a description and analysis',
177:'of the status of financial management in the executive branch; b a summary of the most recently completed financial statements—',
178:'i of federal agencies under section 3515 of this title; and ii of government corporations; c a summary of the',
179:'most recently completed financial statement audits and reports— i of federal agencies under section 3521 e and f of this',
180:'title; and ii of government corporations; d a summary of reports on internal accounting and administrative control systems submitted to',
181:'the president and the congress under the amendments made by the federal managers financial integrity act of 1982 public law',
182:'97255; and e any other information the director considers appropriate to fully inform the dongress regarding the finsmcial management of',
183:'the federal government. 3xa a governmentwide 5year financial management plan under this subsection shall describe the activities the director, the',
184:'deputy director for management, the controller of the office of federal financial management, and agency chief financial officers shall conduct',
185:'over the next 5 fiscal years to improve the financial management of the federal government. b each governmentwide 5year financial',
186:'management plan prepared under this subsection shall— i describe the existing financial management structure and any changes needed to establish',
187:'an integrated financial management system; ii be consistent with applicable accounting principles, standards, and requirements; iii provide a strategy for',
188:'developing and integrating individual agency accounting, financial information, and other financial management systems to ensure adequacy, consistency, and timeliness of',
189:'financial information; 104 stat. 2848 public law 101576—nov. 15, 1990 iv identify and make proposals to eliminate duplicative and unnecessary',
190:'systems, including encouraging agencies to share systems which have sufficient capacity to perform the functions needed; v identify projects to',
191:'bring existing systems into compliance with the applicable standards and requirements; vi contain milestones for equipment acquisitions and other actions',
192:'necessary to implement the 5year plan consistent with the requirements of this section; vii identify financial management personnel needs and',
193:'actions to ensure those needs are met; viii include a plan for ensaring the annual audit of financial statements of',
194:'executive agencies pursuant to section 3521h of this title; and ix estimate the costs of implementing the governmentwide 5year plan.',
195:'4a not later than 15 months after the date of the enactment of this subsection, the director of the office',
196:'of management and budget shall submit the first financial management status report and governmentwide 5year financial management plan under this',
197:'subsection to the appropriate committees of the congress. bi not later than january 31 of each year thereafter, the director',
198:'of the office of management and budget shall submit to the appropriate committees of the congress a financial management status',
199:'report and a revised governmentwide 5year financial management plan to cover the succeeding 5 fiscal years, including a report on',
200:'the accomplishments of the executive branch in implementing the plan during the preceding fiscal year. ii the director shall include',
201:'with each revised governmentwide 5year financial management plan a description of any substantive changes in the financial statement audit plan',
202:'required by paragraph 3bviii, progress made by executive agencies in implementing the audit plan, and any improvements in federal government',
203:'financial management related to preparation and audit of financial statements of executive agencies. 5 not later than 30 days after',
204:'receiving each annual report under section 902a6 of this title, the director shall transmit to the chairman of the committee',
205:'on government operations of the house of representatives and the chairman of the committee on governmental affairs of the senate',
206:'a final copy of that report and any comments on the report by the director.. b clerical amendment.—the table of',
207:'contents at the beginning of chapter 35 of title 31, united states code, is amended by striking the item relating',
208:'to section 3512 and inserting the following: 3512. executive agency accounting and other financial management reports and plans.. 31 us',
209:'e 901 note. sec. 302. chief financial officers council. a establishment.—there is established a chief financial officers council, consisting of—',
210:'1 the deputy director for management of the office of management and budget, who shall act as chairperson of the',
211:'council; 2the controller of the office of federal financial management of the office of management and budget; 3the fiscal assistant',
212:'secretary of treasury; and public law 101576—nov. 15, 1990 104 stat. 2849 4 each of the agency chief financial officers',
213:'appointed under section 901 of title 31, united states code, as amended by this act. b functions.—the chief financial officers',
214:'council shall meet periodically to advise and coordinate the activities of the agencies of its members on such matters as',
215:'consolidation and modernization of financial systems, improved quality of financial information, financial data and information standards, internal controls, legislation affecting',
216:'financial operations and organizations, and any other financial management matter. sec. 303. financial statements of agencies. a preparation of financial',
217:'statements.— 1 in general.—subchapter ii of chapter 35 of title 31, united states code, is amended by adding at the',
218:'end the following: § 3515. financial statements of agencies a not later than march 31 of 1992 and each year',
219:'thereafter, the head of each executive agency identified in section 901b of this title shall prepare and submit to the',
220:'director of the office of management and budget a financial statement for the preceding fiscal year, covering— 1 each revolving',
221:'fund and trust fund of the agency; and 2 to the extent practicable, the accounts of each office, bureau, and',
222:'activity of the agency which performed substantial commercial functions during the preceding fiscal year. ot each financial statement of an',
223:'executive agency under this section shall reflect— 1 the overall financial position of the revolving funds, trust funds, offices, bureaus,',
224:'and activities covered by the statement, including assets and liabilities thereof; 2 results of operations of those revolving funds, trust',
225:'funds, offices, bureaus, and activities; 3 cash flows or changes in flnancial position of those revolving funds, trust funds, offices,',
226:'bureaus, and activities; and 4 a reconciliation to budget reports of the executive agency for those revolving funfe, trust funds,',
227:'offices, bureaus, and activities. c the director of the office of management and budget shall prescribe the form and content',
228:'of the financial statements of executive agencies under this section, consistent with applicable accounting principles, standards, and requirements. d for',
229:'purposes of this section, the term commercial functions includes bujdng and leasing of real estate, providing insurance, making loans and',
230:'loan guarantees, and other credit programs and any activity involving the provision of a service or thing of value for',
231:'which a fee, royalty, rent, or other charge is imposed by an agency for services and things of value it',
232:'provides. e not later than march 31 of each year, the head of each executive agency designated by the president',
233:'may prepare and submit to the director of the cffice of management and budget a financial statement for the preceding',
234:'fiscal year, covering accounts of offices, bureaus, and activities of the agency in addition to those described in subsection a..',
235:'2 effective date of subsection.—subsection e of section 31 use 3515 3515 of title 31, united states code, as added',
236:'by paragraph 1, ote. 104 stat. 2850 public law 101576—nov. 15, 1990 shall take effect on the date on which',
237:'a resolution described in subsection b1 of this section is passed by the congress and approved by the president. 31',
238:'use 3515 3 waiver of requirement.—the director of the office of note management and budget may, for fiscal year 1991,',
239:'waive the application of section 3515a of title 31, united states code, as amended by this subsection, with respect to',
240:'any revolving fund, trust fund, or account of an executive agency. 31 use 3515 b resolution approving designation of agencies.—',
241:'^°^ 1 resolution described.—a resolution referred to in subsection ax2 is a joint resolution the matter after the resolving clause',
242:'of which is as follows: that the congress approves the executive agencies designated by the president pursuant to section 3515e',
243:'of title 31, united states code.. 2 introduction of resolution.—no later than the first day of session following the day',
244:'on which the president submits to the congress a designation of executive agencies authorized to submit financial statements under section',
245:'3515e of title 31, united states code, as added by subsection a, a resolution as described in paragraph 1 shall',
246:'be introduced by request in the house by the chairman of the committee on government operations of the house of',
247:'representatives, or by a member or members of the house designated by such chairman; and shall be introduced by request',
248:'in the senate by the chairman of the committee on governmental affairs of the senate, or by a member or',
249:'members of the senate designated by such chairman. 3 referral.—a resolution described in paragraph 1, shall be referred to the',
250:'committee on governmental affairs of the senate and the committee on government operations of the house and all resolutions with',
251:'respect to the same designation of executive agencies shall be referred to the same committee by the president of the',
252:'senate or the speaker of the house of representatives, as the case may be. the committee shall make its recommendations',
253:'to the house of representatives or the senate, respectively, within 60 calendar days of continuous session of the congress following',
254:'the date of such resolutions introduction. 4 discharge of committee.—if the committee to which is referred a resolution introduced pursuant',
255:'to paragraph 2 or, in the absence of such a resolution, the first resolution introduced with respect to the same',
256:'designation of executive agencies has not reported such resolution or identical resolution at the end of 60 calendar days of',
257:'continuous session of the congress after its introduction, such committee shall be deemed to be discharged from further consideration of',
258:'such resolution and such resolution shall be placed on the appropriate calendar of the house involved. 5 procedure after report',
259:'or discharge of committee; vote on final passage.—a when the committee has reported, or has been deemed to be discharged',
260:'under paragraph 4 from further consideration of, a resolution described in paragraph 1, it is at any time thereafter in',
261:'order even though a previous motion to the same effect has been disagreed to for any member of the respective',
262:'house to move to proceed to the consideration of the resolution. the motion is highly privileged and is not debatable.',
263:'the motion shall not be subject to amend public law 101576—nov. 15, 1990 104 stat. 2851 ment, or to a',
264:'motion to postpone, or a motion to proceed to the consideration of other business. a motion to reconsider the vote',
265:'by which the motion is agreed to or disagreed to shall not be in order. if a motion to proceed',
266:'to the consideration of the resolution is agreed to, the resolution shall remain the unfinished business of the respective house',
267:'until disposed of. b debate on the resolution, gmd on all debatable motions and appeals in connection therewith, shall be',
268:'limited to not more than 10 hours, which shall be divided equally between individuals favoring and individuals opposing the resolution.',
269:'a motion further to limit debate is in order and not debatable. an amendment to, or a motion to postpone,',
270:'or a motion to proceed to the consideration of other business, or a motion to recommit the resolution is not',
271:'in order. a motion to reconsider the vote by which the resolution is passed or rejected shall not be in',
272:'order. cimmediately following the conclusion of the debate on the resolution and a single quorum call at the conclusion of',
273:'the debate if requested in accordance with the rules of the appropriate house, the vote on final passage of the',
274:'resolution shall occur. dappeals from the decisions of the chair relating to the application of the rules of the senate',
275:'or the house of representatives, as the case may be, to the procedure relating to a resolution described in paragraph',
276:'1, shall be decided without debate. eif, prior to the passage by one house of a resolution of that house,',
277:'that house receives a resolution with respect to the same designation of executive agencies from the other house, then— ithe',
278:'procedure in that house shall be the same as if no resolution had been received from the other house; but',
279:'iithe vote on final passage shall be on the resolution of the other house. fit shall not be in order',
280:'in either the house of representatives or the senate to consider a resolution described in paragraph 1, or to consider',
281:'any conference report on such a resolution, unless the director of the office of management and budget submits to the',
282:'congress a report under subsection e. c report on substantial commercial functions.—not later 3i use 3515 than 180 days after',
283:'the date of the enactment of this act, the °^ director of the office of management and budget shall determine',
284:'and report to the congress on which executive agencies or parts thereof perform substantial commercial functions for which financial statements',
285:'can be prepared practicably under section 3515 of title 31, united states code, as added by this section. d pilot',
286:'project.—1 not later than march 31 of each of 1991, 31 usc 3515 1992, and 1993, the head of the',
287:'departments of agriculture, labor, oteand veterans affairs, the general services administration, and the social security administration shall each prepare and',
288:'submit to the director of the office of management and budget financial statements for the preceding fiscal year for the',
289:'accounts of all of the offices, bureaus, and activities of that department or administration. 2not later than march 31 of',
290:'each of 1992 and 1993, the head of the departments of housing and urban development and the army shall prepare',
291:'and submit to the director of the office of management and budget financial statements for the preceding fiscal year 104',
292:'stat. 2852 public law 101576—nov. 15, 1990 for the accounts of all of the offices, bureaus, and activities of that',
293:'department. 3not later than march 31, 1993, the head of the department of the air force, the internal revenue service,',
294:'and the united states customs service, shall each prepare and submit to the director of the office of management and',
295:'budget financial statements for the preceding fiscal year for the accounts of all of the offices, bureaus, and activities of',
296:'that department or service. 4each financial statement prepared under this subsection shall be audited in accordance with section 3521 e,',
297:'f, g, and h of title 31, united states code. 31 use 3515 e report on initial financial statements.—not later',
298:'than °® june 30,1993, the director of the office of management and budget shall report to the congress on the',
299:'financial statements prepared for fiscal years 1990, 1991, and 1992 under subsection a of section 3515 of title 31, united',
300:'states code as added by subsection a of this section and under subsection d of this section. the report shall',
301:'include analysis of^ 1the accuracy of the data included in the financial statements; 2the difficulties each department and agency encountered',
302:'in preparing the data included in the financial statements; 3the benefits derived from the preparation of the financial statements; and',
303:'4the cost associated with preparing and auditing the financial statements, including a description of any activities that were foregone as',
304:'a result of that preparation and auditing. f clerical amendment.—the table of sections at the beginning of chapter 35 of',
305:'title 31, united states code, is amended by inserting after the item relating to section 3514 the following: 3515. financial',
306:'statements of agencies.. sec. 304. financial audits of agencies. ain general.—section 3521 of title 31, united states code, is amended',
307:'by adding at the end the following new subsections: e each financial statement prepared under section 3515 by an agency',
308:'shall be audited in accordance with applicable generally accepted government auditing standards— 1 in the case of an agency having',
309:'an inspector general appointed under the inspector general act of 1978 5 u.s.c. app., by the inspector general or by',
310:'an independent external auditor, as determined by the inspector general of the agency; and 2 in any other case, by',
311:'an independent external auditor, as determined by the head of the agency. reports. f not later than june 30 following',
312:'the fiscal year for which a financial statement is submitted under section 3515 of this title by an agency, the',
313:'person who audits the statement for purpose of subsection e shall submit a report on the audit to the head',
314:'of the agency. a report under this subsection shall be prepared in accordance with generally accepted government auditing standards. g',
315:'the comptroller general of the united states— 1 may review any audit of a financial statement conducted under this subsection',
316:'by an inspector general or an external auditor; public law 101576—nov. 15, 1990 104 stat. 2853 2 shall report to',
317:'the congress, the director of the office of management and budget, and the head of the agency which prepared the',
318:'statement, regarding the results of the review and make any recommendation the comptrpuer general considers appropriate; and 3 may audit',
319:'a financial statement prepared under section 3515 of this title at the discretion of the comptroller general or at the',
320:'request of a committee of the congress. an audit the comptroller general performs under this subsection shall be in lieu',
321:'of the audit otherwise required by subsection e of this section. prior to performing such audit, the comptroller general shall',
322:'consult with the inspector general of the agency which prepared the statement. h each financial statement prepared by an executive',
323:'agency for a fiscal year after fiscal year 1991 shall be audited in accordance with this section and the plan',
324:'required by section 3512a3bviii of this title.. b waiver of requirements.—the director of the office of management and budget may',
325:'waive application of subsections e and f of section 3521 of title 31, united states code, as amended by this',
326:'section, to a financial statement submitted by an eigency for fiscal years 1990 and 1991. sec. 305. financial audits of',
327:'government corporations. section 9105 of title 31, united states code, is amended to read as follows: § 9105. audits a1',
328:'the financial statements of government corporations shall be audited by the inspector general of the corporation appointed under the inspector',
329:'general act of 1978 5 u.s.c. app. or by an independent external auditor, as determined by the inspector general or,',
330:'if there is no inspector general, by the head of the corporation. 2 audits under this section shall be conducted',
331:'in accordance with applicable generally accepted government auditing standards. 3 upon completion of the audit required by this subsection, the',
332:'person who audits the statement shall submit a report on the audit to the head of the government corporation, to',
333:'the chairman of the committee on government operations of the house of representatives, and to the chairman of the committee',
334:'on governmental affairs of the senate. 4 the comptroller general of the united states— a may review any audit of',
335:'a financial statement conducted under this subsection by an inspector general or an external auditor; b shall report to the',
336:'congress, the director of the office of management and budget, and the head of the government corporation which prepared the',
337:'statement, regarding the results of the review and make any recommendation the comptroller general of the united states considers appropriate;',
338:'and c may audit a financial statement of a government corporation at the discretion of the comptroller general or at',
339:'the request of a committee of the congress. an audit the comptroller general performs under this paragraph shall be in',
340:'lieu of the audit otherwise required by paragraph 1 of reports. 31 use 3521 note. reports, reports. 104 stat. 2854',
341:'public law 101576—nov. 15, 1990 this subsection. prior to performing such audit, the comptroller general shall consult with the inspector',
342:'general of the agency which prepared the statement. 5 a government corporation shall reimburse the comptroller general of the united',
343:'states for the full cost of any audit conducted by the comptroller general under this subsection, as determined by the',
344:'comptroller general. all reimbursements received under this paragraph by the comptroller general of the united states shall be deposited in',
345:'the treasury as miscellaneous receipts. b upon request of the comptroller general of the united states, a government corporation shall',
346:'provide to the comptroller general of the united states all books, accounts, financial records, reports, files, workpapers, and property belonging',
347:'to or in use by the government corporation and its auditor that the comptroller general of the united states considers',
348:'necessary to the performance of any audit or review under this section. c activities of the comptroller general of the',
349:'united states under this section are in lieu of any audit of the financial transactions of a government corporation that',
350:'the comptroller general is required to make under any other law.. sec. 306. management reports of government corporations. ain general.—section',
351:'9106 of title 31, united states code, is amended to read as follows: § 9106. management reports a1 a government',
352:'corporation shall submit an annual management report to the congress not later than 180 days after the end of the',
353:'government corporations fiscal year. 2 a management report under this subsection shall include— a a statement of financial position; b',
354:'a statement of operations; c a statement of cash flows; d a reconciliation to the budget report of the government',
355:'corporation, if applicable; e a statement on internal accounting and administrative control systems by the head of the management of',
356:'the corporation, consistent with the requirements for agency statements on internal accounting and administrative control systems under the amendments made',
357:'by the federal managers financial integrity act of 1982 public law 97255; f the report resulting from an audit of',
358:'the financial statements of the corporation conducted under section 9105 of this title; and g any other comments and information',
359:'necessary to inform the congress about the operations and financial condition of the corporation. b a government corporation shall provide',
360:'the president, the director of the office of management and budget, and the comptroller general of the united states a',
361:'copy of the management report when it is submitted to congress.. b clerical amendment.—the table of sections for chapter 91',
362:'of title 31, united states code, is amended by striking the item relating to section 9106 and inserting the following:',
363:'9106. management reports.. public law 101576—nov. 15, 1990 104 stat. 2855 sec. 307. adoption of capital accounting standards. 31 usc',
364:'3511 no capital accounting standard or principle, including any human capital standard or principle, shall be adopted for use in',
365:'an executive department or gigency until such standard has been reported to the congress and a period of 45 days',
366:'of continuous session of the congress has expired. approved november 15, 1990. legislative history—h.r. 5687: house reports: no. 101818, pt.',
367:'1 comm. on government operations. congressional record, vol. 136 1990: oct. 15, considered and passed house. oct. 26, considered and',
368:'passed senate, amended. oct. 27, house concurred in senate amendments. weekly compilation of presidential documents, vol. 26 1990: nov. 15,',
369:'presidential statement.',