2. Establish working capital funds (WCFs) for all federal agencies. The Director of the Office of Management and Budget (OMB) should facilitate WCFs for all appropriate federal agencies as part of the fiscal year 1995 budget at the cross-agency levels. OMB should initiate discussions with each major agency to implement this recommendation. Each agency should design a charter that specifies the intended purposes for the WCF (e.g., information technology investments) and establishes a minimum set of safeguards such as annual inspector general audits. Each stage of the funds' operations would use safeguards. These would include, but not be limited to, sound peer review of proposals, effective project management oversight that relies on various measurable indicators of progress and regular reviews, and post- project audits. Since the WCFs would be concerned with larger and more technically complex projects than those addressed by the agency level ICFs, a correspondingly more thorough due diligence process evaluating proposals and more sophisticated oversight of project management should be used. In addition to agency level WCFs, pilot programs could also test the feasibility of possible regional or local WCFs during fiscal year 1994.
You can attach your comments to this document. If you enter your email address in the empty box below and click on the submit button, you will receive via email a form that allows you to link your views to the NPR hypertext.
Subscribe Unsubscribe No Action