A. Recent Laws Regarding Budgeting
B. Governmental Studies Regarding Capital Budgeting
The Congressional Budget and Impoundment Control Act of 1974 (P.L. 93-344)
(July 12, 1974). Most laws and their amendments affecting the budget can
be found in U.S. Code Title 31.
Federal Capital Investment Program Information Act of 1984 (P.L. 98-501)
(October 19, 1984).
Balanced Budget and Emergency Deficit Control Act of 1985 (P.L. 99-177)
(December 12, 1985). This was known as the Gramm-Rudman-Hollings Act of
Budget Enforcement Act of 1990. This was Title XIII of the Omnibus
Budget Reconciliation Act of 1990 (P.L. 101-508) (November 5, 1990).
Federal Credit Reform Act of 1990. This was Title XIII (Subtitle
B) of the Omnibus Budget Reconciliation Act of 1990 (P.L. 101-508) (November
Chief Financial Officers Act of 1990 (P.L. 101-576) (November 15, 1990).
Government Performance and Results Act of 1993 (P.L. 103-62) (August 3,
Title XIV (Budget Process Provisions) of the Omnibus Budget Reconciliation
Act of 1993 (P.L. 103-66) (August 10, 1993). This Title amended and extended
the Gramm-Rudman-Hollings Act of 1985 and the Budget Enforcement Act of
Federal Acquisition Streamlining Act of 1994 (P.L. 103-355) (October 13,
Government Management Reform Act of 1994 (P.L. 103-356) (October 13, 1994).
Federal Acquisition Reform Act of 1996 (P.L. 104-106) (February 10, 1996).
Division D of the National Defense Authorization Act for 1996.
Information Technology Management Reform Act of 1996 (Clinger-Cohen Act)
(P.L. 104-106) (February 10, 1996). Division E of the National Defense
Authorization Act for 1996.
Title X (Budget Enforcement and Process Provisions) of the Balanced Budget
Act of 1997 (P.L. 105-33) (August 5, 1997). This title amended and
extended the Gramm-Rudman-Hollings Act of 1985 and the Budget Enforcement
Act of 1990.
C. Progress in Implementing Modifications in Budgeting for Capital
Report of the President's Commission on Budget Concepts. Washington,
D.C., October 1967.
President's Private Sector Survey on Cost Control (Grace Commission).
Report on Federal Management Systems, "FMS 5: Capital Budgeting."
September 1983, 96-111.
General Accounting Office reports, 1989-1998. GAO issued many reports in
this period that discussed budgeting for capital, including the following:
Budget Policy: Prompt Action Necessary to Avert Long-Term Damage
to the Economy. GAO/OCG-92-2. June 1992.
Budget Issues: Incorporating an Investment Component in the Federal
Budget. GAO/AIMD-94-40. November 1993.
Budget Issues: The Role of Depreciation in Budgeting for Certain
Federal Investments. GAO/AIMD-95-34. February 1995.
Budget Issues: Budgeting for Federal Capital. GAO/AIMD-97-5.
Executive Guide: Leading Practices in Capital Decision-Making.
GAO/AIMD-99-32. December 1998.
Report of the National Performance Review, Creating a Government that
Works Better & Costs Less, 111. Washington, D.C.: September
1993. See also the accompanying report, Improving Financial Management,
"FM12: Manage Fixed Asset Investments for the Long Term." 67-72.
Office of Management and Budget (OMB) Circular A-94: "Guidelines and Discount
Rates for Benefit-Cost Analysis of Federal Programs." October 29,
Executive Order 12893: Principles for Federal Infrastructure Investments.
Washington, D.C.: January 26, 1994.
OMB. Statement of Federal Financial Accounting Standards (SFFAS)
No. 6, Accounting for Property, Plant, and Equipment (November 1995);
and SFFAS No. 8, Supplementary Stewardship Reporting (June 1996).
OMB Circular A-130: "Management of Federal Information Resources."
Transmittal Memorandum No. 3. February 8, 1996.
OMB Memorandum 97-02. "Funding Information Systems Investments."
October 25, 1996. This memorandum is also known as "Raines Rules," because
OMB Director Franklin D. Raines issued the memorandum.
OMB. Capital Programming Guide (Supplement to Part 3 of OMB
Circular A-11). July 1997.
OMB. Budget of the United States Government, Fiscal Year 1999.
a) "Principles of Budgeting for Capital Asset Acquisitions," in the
Analytical Perspectives volume of the Budget, 140.
b) Chapter 6: "Federal Investment Spending and Capital Budgeting," of
the Analytical Perspectives volume of the Budget. This
chapter includes projections of both budget authority and outlays to four
years beyond the budget year, a section on major Federal capital proposals
in the budget, the "Principles of Budgeting for Capital Asset Acquisitions,"
estimates of capital stocks and depreciation, and a section on capital
c) Proposal of Budgeting for Results, Budget volume, page 44.
Department of the Treasury. Consolidated Financial Statements
of the United States Government (most recently, March 31, 1998).
Financial statements and accountability reports for departments and major
independent agencies may be available from the Chief Financial Officer
of each department or agency. Some are available at www.financenet.gov/financenet/fed/docs.
OMB. Circular A-11 (Part 3): "Planning, Budgeting, and Acquisition
of Capital Assets." July 1, 1998.
Agency Strategic Plans and Annual Performance Plans. These agency
plans are prepared pursuant to the Government Performance and Results Act
of 1993 and guidance in OMB Circular A-11, Part 2: "Preparation and Submission
of Strategic Plans and Annual Performance Plans," July 1, 1998. They
are published on the agency websites or are available upon request to the
agency. Strategic Plans were published beginning in 1997 and Annual
Performance Plans for FY 1999 were published beginning in February 1998.
The Annual Performance Plans for FY 2000 are scheduled to become publicly
available in the Spring of 1999.
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