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United States · Bill · HR

H.R. 1241 (100th)

Federal Financial Management Improvement Act

referredUnited States· United States Congress· EN

Introduced

25 February 1987

Last action

5 March 1987 · Referred

Status

Referred to Subcommittee on Legislation and National Security.

Sponsors

Rep. DioGuardi, Joseph J. [R-NY-20], Rep. Boulter, Beau [R-TX-13], Rep. Barnard, Doug, Jr. [D-GA-10], Rep. Bentley, Helen Delich [R-MD-2], Rep. Buechner, Jack [R-MO-2], Rep. Crane, Philip M. [R-IL-8], Rep. Dornan, Robert K. [R-CA-46], Sen. Inhofe, James M. [R-OK], Rep. Kasich, John R. [R-OH-12], Rep. Lagomarsino, Robert J. [R-CA-19], Sen. Mack, Connie, III [R-FL], Rep. Annunzio, Frank [D-IL-11], Rep. Olin, James R. [D-VA-6], Rep. Clinger, William F., Jr. [R-PA-5], Rep. Badham, Robert E. [R-CA-40], Rep. Conyers, John, Jr. [D-MI-13], Rep. Hughes, William J. [D-NJ-2], Rep. Kemp, Jack [R-NY-31], Rep. Neal, Stephen L. [D-NC-5], Rep. Shaw, E. Clay, Jr. [R-FL-22], Rep. Lantos, Tom [D-CA-12], Rep. Edwards, Mickey [R-OK-5], Del. Fauntroy, Walter E. [D-DC-At Large], Rep. Gekas, George W. [R-PA-17], Rep. Mavroules, Nicholas [D-MA-6], Rep. Ackerman, Gary L. [D-NY-5], Rep. Chandler, Rod D. [R-WA-8], Rep. Rowland, John G. [R-CT-5], Rep. Gilman, Benjamin A. [R-NY-20], Rep. Smith, Denny [R-OR-5], Rep. Gallo, Dean A. [R-NJ-11], Rep. Hiler, John Patrick [R-IN-3], Rep. Hyde, Henry J. [R-IL-6], Rep. Young, Don [R-AK-At Large], Rep. Lukens, Donald E. [R-OH-8], Rep. Rhodes, John J., III [R-AZ-1], Rep. Parris, Stanford E. (Stan) [R-VA-8], Rep. Fish, Hamilton, Jr. [R-NY-19], Rep. Madigan, Edward R. [R-IL-15], Rep. Smith, Christopher H. [R-NJ-4], Rep. Sweeney, David McCann [R-TX-14], Rep. Coble, Howard [R-NC-6], Rep. Traficant, James A., Jr. [D-OH-17], Rep. Leland, Mickey [D-TX-18], Rep. Gingrich, Newt [R-GA-6], Rep. McDade, Joseph M. [R-PA-10], Rep. Lujan, Manuel, Jr. [R-NM-1], Rep. McEwen, Bob [R-OH-6]

Subjects

Discovery layer

Source updated

28 August 2025

Official sourceView documentsShare

Summary

Federal Financial Management Improvement Act - Establishes: (1) the Office of the Chief Financial Officer of the United States in the Executive Office of the President; (2) an Assistant Secretary for Financial Management in each executive department; and (3) a Controller in each executive agency. Requires officers to be appointed to such positions by the President, by and with the advice and consent of the Senate. Requires the Chief Financial Officer (CFO) to: (1) provide central direction and monitoring of the executive agencies in the management of their financial activities; (2) ensure that the President and the Congress are fully informed of the Government's financial management condition; and (3) maintain the central accounting and reporting records of the Government. Requires each Assistant Secretary and Controller to: (1) maintain a strategic financial management plan for the department or agency; and (2) participate in the appointment, development, and evaluation of financial managers of such department or agency. Requires the budget of each department and agency to contain a line item for its Assistant Secretary or Controller based on its strategic financial management plan. Establishes in the executive branch the Federal Finance Council, which shall consist of the CFO and the Assistant Secretaries, as an advisory body on financial management objectives, information requirements, plans, operations, and activities. Directs the President to transfer to the Office of the CFO: (1) such functions of the executive agencies as the President determines are properly related to the functions of the Office; and (2) such personnel, property, and records of such agencies as are related to the transferred functions.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 25 February 1987

    Introduced

    Referred to House Committee on Government Operations.

    Source: IntroReferral

  2. 25 February 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 25 February 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 5 March 1987

    Referred

    Referred to Subcommittee on Legislation and National Security.

    Source: Committee

Votes

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Versions

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Documents

1 official file

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Sponsors

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Related records

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Sources

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