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{link: 'http://hdl.loc.gov/loc.uscongress/legislation.101hr5687',title: 'Thomas - Bill Summary and Status - H.R.5687' }

H.R.5687
Title: An act to amend title 31, United States Code, to improve the general financial management of the Federal Government.
Sponsor: Rep Conyers, John, Jr. [MI-1] (introduced 9/21/1990)      Cosponsors (None)
Related Bills: H.R.5492
Latest Major Action: 11/15/1990 Became Public Law No: 101-576.
Jump to: Summary, Major Actions, All Actions, Titles, Cosponsors, Committees, Related Bill Details, AmendmentsAbstracts
SUMMARY AS OF:
10/27/1990--Passed Senate amended.    (There is 1 other summary)

Chief Financial Officers Act of 1990 - Title I: General Provisions - Sets forth congressional findings with respect to the financial management systems of the Federal Government. Declares the purposes of this Act to be to improve such systems.

Title II: Establishment of Chief Financial Officers - Amends Federal law to create a Deputy Director for Management within the Office of Management and Budget (OMB), appointed by the President. Requires the Deputy Director, under the general supervision of the Director of OMB, to coordinate and supervise OMB's general management functions.

Establishes in OMB an Office of Federal Financial Management, headed by a Controller who shall be appointed by the President. Places the Office under the direction and control of the Deputy Director for Management and requires it to carry out specified financial management functions.

Establishes within each specified agency a Chief Financial Officer. Sets forth the duties of such Officer regarding financial management matters. Establishes within each such agency an agency Deputy Chief Financial Officer to report directly to the agency Chief Financial Officer.

Requires the head of each such agency to submit to the Director of OMB a proposal for reorganizing the agency with respect to financial management functions. Requires implementation of such proposal upon the Director's approval.

Title III: Enhancement of Federal Financial Management Activities - Requires the Director of OMB to submit to the appropriate congressional committees a Government-wide financial management plan describing the activities the Director, the Controller, and the agency CFOs will conduct over the next five fiscal years to improve the financial management of the Government. Prescribes the contents of such plan. Requires the Director to report to the appropriate committees of the Congress annually with a revised plan to cover the succeeding five fiscal years.

Establishes a Chief Financial Officers Council consisting of the Deputy Director for Management of OMB, the Controller, the Fiscal Assistant Secretary of Treasury, and the agency CFOs to advise and coordinate financial management matters.

Requires each executive agency to prepare annual financial statements for submission to the Director.

Prescribes a procedure for congressional approval by joint resolution of the agencies designated by the President.

Requires the Director to report to the Congress on which executive agencies perform substantial commercial functions for which financial statements practicably can be prepared. Provides for audits of such statements.

Sets forth requirements for specified departments, agencies, and bureaus to report a financial statement to the Director of OMB and requires the Director to report an analysis of such statements to the Congress.

Requires an audit of each financial statement prepared under this Act.

Revises the mandate and general procedures for: (1) the audit of financial statements of Government corporations; and (2) the annual management reports of such corporations.

Declares that no capital accounting standard or principle, including any human capital standard or principle, shall be adopted for use in an executive department or agency until it has been reported to the Congress and 45 days of continuous congressional session have expired.

MAJOR ACTIONS:

9/21/1990 Introduced in House
10/6/1990 Reported (Amended) by the Committee on Government Operations. H. Rept. 101-818, Part I.
10/10/1990 Committee on Post Office and Civil Service discharged.
10/15/1990 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
10/27/1990 Passed/agreed to in Senate: Passed Senate with an amendment and an amendment to the Title by Voice Vote.
10/28/1990 Resolving differences -- House actions: On motion that the House agree to the Senate amendments Agreed to by voice vote.
10/28/1990 Cleared for White House.
11/6/1990 Presented to President.
11/15/1990 Signed by President.
11/15/1990 Became Public Law No: 101-576.
ALL ACTIONS: (Floor Actions/Congressional Record Page References)
9/21/1990:
Referred to the House Committee on Government Operations.
9/24/1990:
Referred to the Subcommittee on Legislation and National Security.
9/25/1990:
Subcommittee Consideration and Mark-up Session Held.
9/25/1990:
Forwarded by Subcommittee to Full Committee (Amended).
9/26/1990:
Committee Consideration and Mark-up Session Held.
9/26/1990:
Ordered to be Reported (Amended).
10/6/1990 8:24pm:
Reported (Amended) by the Committee on Government Operations. H. Rept. 101-818, Part I.
10/6/1990:
Referred sequentially to the House Committee on Post Office and Civil Service for a period ending not later than Oct. 9, 1990 for consideration of such provisions of the bill and amendment as fall within the jurisdiction of that committee pursuant to clause 1(o), Rule X.
10/10/1990 10:46pm:
Committee on Post Office and Civil Service discharged.
10/10/1990 10:46pm:
Placed on the Union Calendar, Calendar No. 526.
10/15/1990 1:15pm:
Mr. Conyers moved to suspend the rules and pass the bill, as amended.
10/15/1990 1:17pm:
Mr. Horton demanded a second on the motion to suspend the rules.
10/15/1990 1:17pm:
On ordering a second Agreed to without objection.
10/15/1990 1:17pm:
Considered under suspension of the rules.
10/15/1990 1:18pm:
DEBATE - The House proceeded with forty minutes of debate.
10/15/1990 1:41pm:
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
10/15/1990 1:42pm:
The title of the measure was amended. Agreed to without objection.
10/15/1990 1:43pm:
Motion to reconsider laid on the table Agreed to without objection.
10/24/1990:
Received in the Senate, read twice.
10/27/1990:
Measure laid before Senate by unanimous consent.
10/27/1990:
Amendment SP 3196 proposed by Senator Graham for Senator Glenn.
10/27/1990:
S.AMDT.3196 Proposed by Senator Graham for Senator Glenn.
To amend title 31, United States Code, to improve the general and financial management of the Federal Government.
10/27/1990:
Amendment SP 3196 agreed to in Senate by Voice Vote.
10/27/1990:
S.AMDT.3196 Amendment SP 3196 agreed to in Senate by Voice Vote.
10/27/1990:
Passed Senate with an amendment and an amendment to the Title by Voice Vote.
10/27/1990:
Message on Senate action sent to the House.
10/28/1990 12:25am:
Mr. Conyers moved that the House suspend the rules and agree to the Senate amendments.
10/28/1990 12:26am:
Mr. Shays demanded a second on the motion to suspend the rules. Without objection a second was ordered.
10/28/1990 12:26am:
DEBATE - The House proceeded with forty minutes of debate on the motion.
10/28/1990 12:29am:
On motion that the House agree to the Senate amendments Agreed to by voice vote.
10/28/1990 12:29am:
Motion to reconsider laid on the table Agreed to without objection.
10/28/1990:
Cleared for White House.
11/5/1990:
Measure Signed in Senate.
11/6/1990:
Presented to President.
11/15/1990:
Signed by President.
11/15/1990:
Became Public Law No: 101-576.
TITLE(S):  (italics indicate a title for a portion of a bill)
COSPONSOR(S):

***NONE***

COMMITTEE(S):
RELATED BILL DETAILS:  (additional related bills may be indentified in Status)
AMENDMENT(S):

1. S.AMDT.3196 to H.R.5687 To amend title 31, United States Code, to improve the general and financial management of the Federal Government.
Sponsor: Sen Glenn, John H., Jr. [OH] (introduced 10/27/1990)      Cosponsors (1)
Latest Major Action: 10/27/1990 Senate amendment agreed to. Status: Amendment SP 3196 agreed to in Senate by Voice Vote.