Statutes Flashcards
Budget and Accounting Act
Created OMB
Created GAO
Requires annual budget submission by President to Congress
1921
Congressional Budget and Impoundment Control Act
1974 Created HBC and SBC Created CBO Shifted FY from July-June to Oct-Sep Prohibits president from withholding funds without sufficient reason. Deferral & Rescission
Balanced Budget and Emergency Deficit Control Reaffirmation Act
1987
Discretionary spending limits on annual appropriations
Pay as you go on anything that would increase deficit
Budget Enforcement Act
1990
Divided spending into mandatory and discretionary
Budget Control Act
2011
Made three phase process to increase debt ceiling.
OMB Circular A-11
Budget preparation
Personnel compensation reporting
OMB Circular A-76
Performance of commercial activities
OMB Circular A-123
Managements responsibility for Internal Control
Green Book
GAO Standards for Internal Control in the Federal Government
Federal Managers Financial Integrity Act
1982
Obligations and cost in compliance with law
Funds, property, and other assets safeguarded from fraud and waste
Revenue and expenditures properly recorded
31USC3512
Balanced Budget and Emergency Deficit Control Act
Established sequestration procedures
Federal Activities Inventory Reform
ID non-inherently governmental work
Make list public
Use competitive process to a select source
Use fair cost comparison (A-76)
Government Employee Training Act
Agency head is responsible for ensuring training training needs of the organization are identified and that programs are established to meet those needs.
CFO Act
1990
Established CFOs in agencies
Tasked CGOs with overseeing financial management in federal government
Government Performance and Results Act
1993 2010 GPRA Modernization Act Required strategic plans Required performance plans Required performance reports
