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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Federal Financial Management Improvement Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

A bill to establish the Office of the Chief Financial Officer of the United States in the Executive Office of the President to direct and coordinate Federal financial management, and to establish an Office of the Assistant Secretary for Financial Management within each executive department and an Office of the Controller in each executive agency.

Actions Overview (1)

02/25/1987Introduced in House

All Actions (3)

03/05/1987Referred to Subcommittee on Legislation and National Security.
Action By: Committee on Government Operations
02/25/1987Referred to House Committee on Government Operations.
Action By: House of Representatives
02/25/1987Introduced in House
Action By: House of Representatives

Cosponsors (58)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Boulter, Beau [R-TX-13]* 02/25/1987
Rep. Barnard, Doug, Jr. [D-GA-10]* 02/25/1987
Rep. Bentley, Helen Delich [R-MD-2]* 02/25/1987
Rep. Buechner, Jack [R-MO-2]* 02/25/1987
Rep. Crane, Philip M. [R-IL-12]* 02/25/1987
Rep. Dornan, Robert K. [R-CA-38]* 02/25/1987
Rep. Inhofe, James M. [R-OK-1]* 02/25/1987
Rep. Kasich, John R. [R-OH-12]* 02/25/1987
Rep. Lagomarsino, Robert J. [R-CA-19]* 02/25/1987
Rep. Mack, Connie, III [R-FL-13]* 02/25/1987
Rep. Annunzio, Frank [D-IL-11] 03/25/1987
Rep. Olin, James R. [D-VA-6] 03/25/1987
Rep. Clinger, William F., Jr. [R-PA-23] 03/25/1987
Rep. Badham, Robert E. [R-CA-40] 03/25/1987
Rep. Conyers, John, Jr. [D-MI-1] 04/23/1987
Rep. Hughes, William J. [D-NJ-2] 04/23/1987
Rep. Kemp, Jack [R-NY-31] 04/23/1987
Rep. Neal, Stephen L. [D-NC-5] 04/23/1987
Rep. Shaw, E. Clay, Jr. [R-FL-15] 05/27/1987
Rep. Lantos, Tom [D-CA-11] 05/27/1987
Rep. Edwards, Mickey [R-OK-5] 05/27/1987
Rep. Fauntroy, Walter E. [D-DC-At Large] 05/27/1987
Rep. Gekas, George W. [R-PA-17] 05/27/1987
Rep. Mavroules, Nicholas [D-MA-6] 05/27/1987
Rep. Ackerman, Gary L. [D-NY-7] 05/27/1987
Rep. Chandler, Rod D. [R-WA-8] 05/27/1987
Rep. Rowland, John G. [R-CT-5] 05/27/1987
Rep. Gilman, Benjamin A. [R-NY-22] 05/27/1987
Rep. Smith, Denny [R-OR-5] 05/27/1987
Rep. Gallo, Dean A. [R-NJ-11] 05/27/1987
Rep. Hiler, John Patrick [R-IN-3] 05/27/1987
Rep. Hyde, Henry J. [R-IL-6] 05/27/1987
Rep. Young, Don [R-AK-At Large] 05/27/1987
Rep. Lukens, Donald E. [R-OH-8] 05/27/1987
Rep. Rhodes, John J., III [R-AZ-1] 05/27/1987
Rep. Parris, Stanford E. (Stan) [R-VA-8] 05/27/1987
Rep. Fish, Hamilton, Jr. [R-NY-21] 05/27/1987
Rep. Madigan, Edward R. [R-IL-15] 05/27/1987
Rep. Smith, Christopher H. [R-NJ-4] 05/27/1987
Rep. Sweeney, David McCann [R-TX-14] 05/27/1987
Rep. Coble, Howard [R-NC-6] 05/27/1987
Rep. Traficant, James A., Jr. [D-OH-17] 05/27/1987
Rep. Leland, Mickey [D-TX-18] 05/27/1987
Rep. Gingrich, Newt [R-GA-6] 05/27/1987
Rep. McDade, Joseph M. [R-PA-10] 05/27/1987
Rep. Lujan, Manuel, Jr. [R-NM-1] 05/27/1987
Rep. McEwen, Bob [R-OH-6] 05/27/1987
Rep. Solomon, Gerald B. H. [R-NY-24] 05/27/1987
Rep. Emerson, Bill [R-MO-8] 05/27/1987
Rep. Bustamante, Albert G. [D-TX-23] 05/27/1987
Rep. Packard, Ron [R-CA-43] 05/27/1987
Rep. Smith, Robert [R-OR-2] 05/27/1987
Rep. Kolter, Joseph P. [D-PA-4] 07/15/1987
Rep. Wise, Robert E., Jr. [D-WV-3] 07/15/1987
Rep. Houghton, Amo [R-NY-34] 07/15/1987
Rep. Saxton, Jim [R-NJ-13] 07/15/1987
Rep. Walker, Robert S. [R-PA-16] 07/15/1987
Rep. Smith, Bob [R-NH-1] 07/15/1987

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Government Operations02/25/1987 Referred to
House Government Operations Subcommittee on Legislation and National Security03/05/1987 Referred to

No related bill information was received for H.R.1241.

Latest Summary (1)

There is one summary for H.R.1241. View summaries

Shown Here:
Introduced in House (02/25/1987)

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.