Final Sequestration Report For Fiscal Year 2001

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ISBN 13 :
Total Pages : 53 pages
Book Rating : 4.:/5 (227 download)

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Download or read book BUDGET ISSUES: Budget Enforcement Compliance Report written by and published by . This book was released on 2001 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report responds to your request that we assess compliance by the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO) with the requirements of the Balanced Budget and Emergency Deficit Control Act of 1985, as amended (the Deficit Control Act). 1 Our assessment covers OMB and CBO reports issued for legislation enacted during the 2nd session of the 106th Congress, which ended on December 15, 2000. According to CBO s final sequestration report issued on December 29, 2000, discretionary outlays for all spending categories combined are estimated to fall beneath the adjusted spending limits for fiscal year 2001. OMB s final sequestration report, issued on January 16, 2001, also estimated that no sequestration of discretionary spending will be required for fiscal year 2001. To assess compliance with the Deficit Control Act (DCA), we reviewed OMB and CBO sequestration reports issued under the act to determine if they complied with all of the act s requirements. In addition we reviewed the scorekeeping reports issued by OMB and CBO to (1) identify major scoring differences and (2) determine the timeliness of the reports. Appendix I contains greater detail on our scope and methodology, as well as background information on DCA. Our work was conducted in Washington, D.C., from August 2000 through May 2001 in accordance with generally accepted government auditing.