[Congressional Record Volume 150, Number 130 (Monday, October 11, 2004)]
[Senate]
[Page S11327]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    EXECUTIVE BRANCH FINANCIAL ACCOUNTABILITY REPORTING ACT OF 2004

  Mr. FRIST. Mr. President, I ask unanimous consent that the Senate 
proceed to the immediate consideration of Calendar No. 757, S. 2688.
  The PRESIDING OFFICER. The clerk will state the bill by title.
  The legislative clerk read as follows:

       A bill (S. 2688) to provide for a report of Federal 
     entities without annually audited financial statements.

  There being no objection, the Senate proceeded to consider the bill.
  Mr. FRIST. Mr. President, I ask unanimous consent that the amendments 
at the desk be agreed to, the bill, as amended, be read the third time, 
passed, and the motion to reconsider be laid upon the table, and that 
any statements relating to the bill be printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment (No. 4063) was agreed to, as follows:


                           amendment no. 4063

       On page 2, line 10, strike ``60 days'' and insert ``120 
     days''.
       On page 3, line 2, insert after ``temporary commissions'' 
     the following: ``in existence at least 12 months''.
       On page 3, strike beginning with line 9 through page 4, 
     line 4, and insert the following:
       (3) an assessment of the capability of and the costs that 
     would be incurred for Federal entities of the categories 
     listed under paragraphs (1) and (2) to prepare annual 
     financial statements and to have such statements 
     independently audited;
       (4) an assessment of how to reduce the costs of preparing 
     the financial statements and performing independent audits 
     for Federal entities of the categories listed under 
     paragraphs (1) and (2); and
       (5) an assessment of the benefits of improved financial 
     oversight encompassing the executive branch, including the 
     Federal entities of the categories listed under paragraphs 
     (1) and (2), and an assessment of the feasibility of 
     preparing annual financial statements and independently 
     audited statements for the Federal entities in the categories 
     listed under paragraphs (1) and (2).

  The bill (S. 2688), as amended, was read the third time and passed.
  (The bill will be printed in a future edition of the Record.)

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