[Congressional Record Volume 142, Number 116 (Thursday, August 1, 1996)]
[Senate]
[Page S9445]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         S. 1130--THE FEDERAL FINANCIAL IMPROVEMENT ACT OF 1996

 Mr. GRASSLEY. Mr. President, I rise today to support the 
Federal Financial Improvement Act. I want to thank Senator Brown, and 
our 11 cosponsors, for their individual efforts. I believe that the 
business of the people should be done as efficiently and effectively as 
possible. Finding a uniform standard of accounting for the executive 
branch agencies will be an important element of that efficiency and 
effectiveness. This bill will lead us to that uniform standard.
  It is impossible to measure the efficiency and effectiveness of the 
many Federal agencies when each may use a different accounting standard 
for making their records or books. For each to use a different standard 
is as if each speaks and writes in a different language that is foreign 
to the next. They cannot understand each other, and the story of their 
work cannot be written.
  Therefore, the legislative branch cannot measure their efficiency and 
effectiveness. We cannot reconcile the consolidated Federal books. We 
cannot determine the presence of the relative financial failures or 
financial successes.
  This is why this legislation is so important to the American people. 
The Federal Financial Management Improvement Act is crucial to 
efficiently and effectively doing the people's work, and it has my 
solid support.

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