Academic journal article Journal of Accountancy

OMB Outlines the Future of Federal Funding to State and Local Governments

Academic journal article Journal of Accountancy

OMB Outlines the Future of Federal Funding to State and Local Governments

Article excerpt

John A. Koskinen, deputy director for management of the Office of Management and Budget, told CPAs attending the American Institute of CPAs government accounting and auditing update conference in Washington, D.C., that the federal government must rethink the way it funds state and local governments.

"The federal government faces an era of declining resources as the debate continues on how to balance the budget," said Koskinen. "In December the Clinton administration announced the restructuring of five major agencies: the Departments of Energy, Transportation and Housing and Urban Development, the General Services Administration and the Office of Personnel Management," and since then has announced the restructuring of six other major agencies as wen as steps to continue regulatory reform.

A major thrust is the creation of "performance partnerships" between the federal government and state and local governments, said Koskinen. "The president proposed, in his fiscal 1996 budget, to consolidate 271 funding programs into 27 `performance partnerships,"' which are based on the twin goals of trust and accountability. …

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