Budget and Accounting Improvement Act

Budget and Accounting Improvement Act - Title I: Assistance to Congress - Authorizes the Comptroller General to review and analyze ongoing Government programs and activities either: (1) upon his own initiative; (2) when ordered by either House of Congress; or (3) when, after consultation with the Comptroller General, the chairman of any committee of the House or Senate or of any joint committee of the two Houses having jurisdiction over such programs and activities requests such a review or study.

Authorizes the Comptroller General upon request of a committee chairman to assign employees of the office of the Comptroller General on a temporary basis to any committee of eiHouyy House or to any joint committee of the two Houses for the purpose of: (1) analyzing cost-benefit studies and any other analytical studies furnished by any Federal agency to such committee or joint committee; or (2) conducting cost-benefit, and other analytical studies of programs under the jurisdiction of such committee or joint committee.

Authorizes the Comptroller General to make analyses of legislative proposals and alternatives, including those alternatives available to the departments and agencies, the long-term costs and benefits thereof, the analytical processes involved in the justification of such proposals, and the validity of the data supporting them.

Provides that any Member of Congress desiring an analysis or review of a legislative proposal shall notify in writing the Comptroller General and the chairman of the committee of his House of the Congress having jurisdiction over such proposal.

Requires, within 30 days after the receipt of the notice, that the Comptroller General advise the Member and chairman which questions and issues are within the competence and available resources in his Office.

Provides that the Comptroller General will have 60 days to make the studies requested and submit the reports thereon to the committee chairmen and the Members.

Requires the Comptroller General to submit status reports to the Congress not later than 30 days after the beginning of each congressional session and at such other times as he believes useful during periods when authorizations and appropriations are being considered on such major weapons systems, major construction programs, and research and development programs as he considers will be of primary interest to the Congress.

Provides that such reports shall be designed to advise Congress of : (1) current cost estimates as compared with prior estimates for (a) research, development, and engineering and (b) production; (2) the reasons for significant fluctuations in cost estimates between the original authorization and contract and the current cost requirement; (3) options available under the contract for additional procurement and whether the agency intends to exercise any options, and the projected cost of exercising options; (4) changes in the performance specifications or estimates made by the contractor or agency and the reasons for any major change in actual or estimated differences from that stated in the original contract specifications; and (5) significant slippages in time schedules and reasons therefor.

Title II: Office of the Comptroller General of the United States - Changes the name of the General Accounting Office to the Office of the Comptroller General of the United States.

Authorizes the Comptroller General to place two positions at a salary rate not to exceed level IV of the Executive Schedule ($38,000) when he considers that action necessary to reflect changes in organization, management responsibilities, or workload of the Office.

Renames the Assistant Comptroller General of the United States the Deputy Comptroller General of the United States to conform to present practice regarding organizational nomenclature.

Title III: Audits of Government Corporations - Provides that each wholly owned Government corporation subject to the Government Corporation Control Act shall, effective January 1, 1970, be audited at least one in every three years.

Provides that the Comptroller General's report of each audit of each wholly owned Government corporation shall be made to the Congress not later than six and one-half months following the close of the last year covered by such audit.

Makes the same change in the frequency of audit and reporting date with respect to each mixed-ownership Government corporation as is provided for wholly owned Government corporations.

Makes a similar change in the frequency of audit and reporting date with respect to the Federal Deposit Insurance Corporation and the National Homeowners Foundation.

Repeals the requirement for an annual audit by the General Accounting Office of the District of Columbia Redevelopment Corporation and the Federal Home Loan Bank Board respectively, thereby granting the Comptroller General discretionary authority to determine the frequency of such audits.

Title IV: Revision of Annual Audit Requirements - Eliminates the requirements for annual audits of the following revolving funds and makes them subject to audit at the discretion of the Comptroller General, in accordance with the provisions of the Accounting and Auditing Act of 1950: (1) the General Supply Fund, GSA; (2) War Risk Insurance Fund, Transportation; (3) Bureau of Engraving and Printing Fund, Treasury; (4) Veterans Canteen Fund, VA; (5) Student Loan Insurance Fund, HEW; (6) Urban Renewal Fund, HUD; and (7) College Housing Fund, HUD.

Title V: Experts and Consultants - Authorizes the Comptroller General to enter into contracts with organizations or individuals to employ individual experts and consultants.

Title VI: Subpena Power - Authorizes the Comptroller General to sign and issue subpenas requiring the production of negotiated contract and subcontract records and records of other non- Federal persons or organizations to which he has a right of access by law or agreement.

Title VII: Enforcement of Decisions and Settlements - Authorizes the Comptroller General to institute whatever civil actions or other proceedings in the appropriate District Court of the United States he determines necessary in connection with his settlement of accounts and claims by and against the United States and to appear before any District Court of the United States or the United States Court of Claims in any civil action or other proceeding in connection therewith.

Provides for declaratory and injunctive relief when the Comptroller General has reasonable cause to believe that any official of the executive branch is about to expend, obligate, or authorize the expenditure or obligation of public funds in an illegal or erroneous manner.

Authorizes the Comptroller General to institute a civil action for such relief in the District Court for the District of Columbia.

Title VIII: Review of Nonappropriated Fund Activities Within the Executive Branch of the Government - Provides, under the Budget and Accounting Act, that the operations of nonappropraited funds and related activities within the executive branch, the systems and accounting and internal controls and any internal or independent audits or reviews of such funds and activities shall be subject to review by the Comptroller General of the United States in accordance with such principles and procedures and under such rules and regulations as he may prescribe.