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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
9/28/1994--Passed Senate amended. TABLE OF CONTENTS: Title I: Limitation on Pay Title II: Human Resource Management Title III: Streamlining Management Control Title IV: Financial Management Government Management Reform Act of 1994 - Title I: Limitation on Pay - Amends the Legislative Reorganization Act of 1946 and other Federal law to limit annual cost of living adjustments for Members of Congress, the Vice President, senior Government officials, and Federal judges. Title II: Human Resource Management - Amends Federal civil service law to eliminate unlimited accumulation of annual leave by members of the Senior Executive Service. Sets a limit on excess leave of 90 days per year. Title III: Streamlining Management Control - Authorizes the Director of OMB to publish annually in the President's Budget any recommendations for the consolidation, elimination, or adjustment in frequency and due dates of statutorily required periodic reports to the Congress or its committees. Title IV: Financial Management - Federal Financial Management Act of 1994 - Amends Federal law to require direct deposit of Federal wage, salary, and retirement payments by electronic funds transfer for recipients who begin receiving such payments on or after January 1, 1995. (Sec. 403) Authorizes the establishment of a franchise fund in each of six executive agencies for the equipment and computer systems necessary for the maintenance and operation of administrative support services that may be performed more advantageously on a centralized basis. Authorizes appropriations. (Sec. 404) Authorizes the Director of the Office of Management and Budget (OMB) to consolidate or adjust the frequency and due dates of statutorily required periodic agency reports to OMB or the President and agency or OMB reports to the Congress under any laws for which OMB has financial management responsibility. (Sec. 405) Requires the annual financial statements of executive agencies to be audited prior to submission to OMB.