2. Require agency heads to provide two reports annually, a planning report and an accountability report. (3) Agency heads should be required to provide two annual agency reports, one on planning and one on accountability. These reports would consolidate the single issue reports required at present. The dates for the planning report and the accountability report would be determined by OMB. These reports should be at a summary level and some cost analysis performed as to the need for the data collected. OMB should accept audited financial statements as meeting the reporting requirements of Section 4 of the FMFIA; Section 2 reporting could be handled as one of the summary reports. OMB should also review reports such as the Prompt Payment Report and reduce the amount of data collected and focus on the significant issues.
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