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In 1996 the Federal Accounting Standards Advisory Board (FASAB) 1 enacted Standard Number 6, Accounting for Property, Plant, and Equipment (PP&E), the first government-wide initiative requiring federal agencies to report dollar amounts of deferred maintenance annually. The FASAB has identified four overall objectives in federal financial reporting: budgetary integrity, operating performance, stewardship, and systems and control. FASAB Standard Number 6, as amended, focuses on operating performance and stewardship. The FFC Standing Committee on Operations and Maintenance has prepared this report to identify potential issues that should be considered in any future amendments to the standard and to suggest approaches for resolving them. The committee's intent is to assist the CFO Council, federal agencies, the FASAB, and others as they consider how best to meet the objectives of federal financial reporting for facilities.
The deteriorating condition of federal facilities poses economic, safety, operational, and environmental risks to the federal government, to the achievement of the missions of federal agencies, and to the achievement of public policy goals. Primary factors underlying this deterioration are the age of federal facilities-about half are at least 50 years old-and decades of inadequate investment for their maintenance and repair. These issues are not new and there are no quick fixes. However, the current operating environment provides both the impetus and the opportunity to place investments in federal facilities' maintenance and repair on a new, more sustainable course for the 21st Century. Despite the magnitude of investments, funding for the maintenance and repair of federal facilities has been inadequate for many years, and myriad projects have been deferred. Predicting Outcomes of Investments in Maintenance and Repair of Federal Facilities identifies processes and practices for transforming the current portfolio of federal facilities into one that is more economically, physically, and environmentally sustainable. This report addresses ways to predict or quantify the outcomes that can be expected from a given level of maintenance and repair investments in federal facilities or facilities' systems, and what strategies, measures, and data should be in place to determine the actual outcomes of facilities maintenance and repair investments.
Flint, Michigan, is widely seen as Detroit s Detroit: the perfect embodiment of a ruined industrial economy and a shattered American dream. In this deeply researched book, Andrew Highsmith gives us the first full-scale history of Flint, showing that the Vehicle City has always seen demolition as a tool of progress. During the 1930s, officials hoped to renew the city by remaking its public schools into racially segregated community centers. After the war, federal officials and developers sought to strengthen the region by building subdivisions in Flint s segregated suburbs, while GM executives and municipal officials demolished urban factories and rebuilt them outside the city. City leaders later launched a plan to replace black neighborhoods with a freeway and new factories. Each of these campaigns, Highsmith argues, yielded an ever more impoverished city and a more racially divided metropolis. By intertwining histories of racial segregation, mass suburbanization, and industrial decline, Highsmith gives us a deeply unsettling look at urban-industrial America."
The Department of Defense is likely to face years of declining resources as the U.S. government grapples with fiscal challenges. These challenges affect every account, including those associated with surface ship maintenance and operations. At the same time, there has been widespread concern that surface ship materiel readiness is declining due to a high pace of operations and a sense that there have been many instances of deferred maintenance. The need to balance fiscal reality and a continued need for ready ships is likely to be an ongoing challenge. At the request of the Assessment Division of the Office of the Chief of Naval Operations, this report: (1) determines the impact on long-term fleet readiness, Operational Availability (Ao), and Expected Service Life (ESL) caused by near-term reductions in Operations and Maintenance (O&M) accounts; (2) recommends potential strategies to minimize negative impacts to Ao and ESL and maintain the largest, most capable fleet possible; (3) develops a maintenance requirement concept, per ship class, that supports ESL, but allows for some risk within the maintenance strategy; and (4) defines the risks to Ao and ESL resulting from the new requirement. The methodology could be applicable to multiple ship classes.
Examines allegations that unrealistic ICC accounting principles followed by the railroads have resulted in an overstatement of railroad profits.