In This Issue:
- GSA SCHEDULE MATTERS
- DOD OFFICE OF INSPECTOR GENERAL REPORTS
- PERTINENT GOVERNMENT ACCOUNTABILITY OFFICE (GAO) AUDIT REPORTS
- KEY FEDERAL ACQUISITION REGULATION (FAR) UPDATES
- KEY DEFENSE ACQUISITION REGULATION (DFAR) UPDATES
- LATEST ON SEQUESTRATION AND GOVERNMENT SPENDING
- Excerpt from Latest on Sequestration and Government Spending:
OMB Final Sequestration Report to the President and Congress for Fiscal Year 2013 (Final Sequestration Report):
On April 9, 2013, the OMB delivered its Final Sequestration Report for Fiscal Year 2013 to the President and Congress. The report was prepared pursuant to section 254 of the Balanced Budget and Emergency Deficit Control Act of 1985 (BBEDCA) as amended.
The Congressional Budget Office (CBO) is required to report whether enacted legislation will exceed or has exceeded the caps on discretionary budget authority for each fiscal year. The caps on budget authority are currently set at $1,043 billion, broken out by security programs ($684 billion) and non-security programs ($359 billion). CBO’s own estimation in March 2013 was that a sequestration will not be required for 2013. This is a tool that the OMB has available to use when determining if a sequestration is required and how the proportional cuts are to be made.
Please see full Report below for more information.
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Topics: Audit Reports, Audits, Defense Aquistion Regulations, Defense Contracts, DOD, Federal Acquisition Regulations, Federal Budget, GAO, GSA, Inspector General, OMB, Sequestration
Published In: Elections & Politics Updates, Finance & Banking Updates, Government Contracting Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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