Budget Scoring: Budget Scoring Affects Some Lease Terms, But Full Extent is Uncertain : Report to Congressional Committees

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U.S. General Accounting Office, 2001 - Building leases - 18 pages
 

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Page 1 - Young Chairman The Honorable James L. Oberstar Ranking Democratic Member Committee on Transportation and Infrastructure House of Representatives Without adequate transportation, welfare recipients face significant barriers in moving from being on welfare to working.
Page 5 - The lease does not contain a bargain-price purchase option. — The lease term does not exceed 75 percent of the estimated economic life of the asset. — The present value of the minimum lease payments over the life of the lease does not exceed 90 percent of the fair market value of the asset at the inception of the lease.
Page 4 - Ownership of the asset remains with the lessor during the term of the lease and is not transferred to the Government at or shortly after the end of the lease period.
Page 4 - These budget scorekeeping guidelines are to be used by the House and Senate Budget Committees, the Congressional Budget Office, and the Office of Management and Budget...
Page 1 - ... the federal government and (2) goods and other property delivered to purchasers. (See Collections.) Rollover Instead of paying off a loan when due, the principal and sometimes accrued interest outstanding of a borrower is refinanced (rolled over) as a new loan with a new maturity date. Scorekeeping The process of estimating the budgetary effects of pending and enacted legislation and comparing them to limits set in the budget resolution or legislation. Scorekeeping tracks data such as budget...
Page 5 - ... budget authority is scored in the year in which the authority is first made available in the amount of the Government's total estimated legal obligations.
Page 4 - ... agencies and Congress from committing the government to future payments that may exceed future resources and spending priorities. Since lease-purchases are not a viable option for improving the costeffectiveness of space acquisition, an option that could result in long-term savings for the government would be to recognize that many operating leases are used for long-term needs and should be treated on the same basis as the ownership options. This would make such instruments comparable in the...
Page 12 - Before the Subcommittee on Public Buildings and Economic Development House Committee on Transportation and Infrastructure May 22, 1997 Mr.
Page 5 - ... legislation in the year in which the budget authority is first made available in the amount necessary to cover the government's legal obligations. The amount scored will include the estimated total payments expected to arise under the full term of a lease contract or, if the contract will include a cancellation clause, an amount sufficient to cover the lease payments for the first fiscal year during which the contract is in effect, plus an amount sufficient to cover the costs associated with...
Page 5 - ... obligations. The amount scored will include the estimated total payments expected to arise under the full term of a lease contract or, if the contract will include a cancellation clause, an amount sufficient to cover the lease payments for the first fiscal year during which the contract is in effect, plus an amount sufficient to cover the costs associated with cancellation of the contract. For funds that are self-insuring under existing authority, only budget authority to cover the annual lease...

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