title II—BUDGET PROCESS REFORM
Sec. 203. Financial Management Reform.
It is the sense of the Congress that the Congress should undertake a coordinated effort to identify problems and develop specific recommendations to reform the financial management systems of the United States Government, including consideration of the use of generally accepted accounting principles.
This section is not classified to the U.S. Code.
Joint Explanatory Statement (BBEDCRA 1987)
The Joint Explanatory Statement of the Managers of Conference on the Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987 included this description:
13. Financial Management Reform
Current Law, such as the Federal Managers’ Financial Integrity Act (Public Law 97-255), addresses certain aspects of financial management improvement. However, a comprehensive statutory framework for financial management reform does not exist.
The Senate amendment (section 226) states the sense of Congress that Congress shall adopt, as part of reconciliation legislation, a plan to ensure improvements in the Government’s financial management.
The conference agreement urges the Congress to undertake coordinated effort to identify problems in Federal financial management, develop specific proposals for reform, and consider the use of generally accepted accounting principles in Federal financial management systems.
U.S. House of Representatives, Balanced Budget and Emergency Deficit Control Reaffirmation Act of 1987: Conference Report to Accompany H. J. Res. 324, House Ways and Means Committee (H. Rept. 100-313) September 21, 1987.