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094464 1 (1969-09-11)

handle is hein.gao/gaobacuji0001 and id is 1 raw text is: 094464 Address by the Comptroller General of the United States, Elmer B. Staats, to the Ninth Annual Institute on Govern- ment Contracts, Dallas, Texas, September 11, 1969 IS IT FEASIBLE TO APPLY UNIFORM COST ACCOUNTING PRINCIPLES AND STANDARDS IN GOVERNMENT CONTRACTS? You have asked me to talk this evening on the subject of whether it is feasible to develop uniform cost accounting standards to be applied in the negotiation of Government contracts. If your reaction is that this is a highly technical subject for an evening address, you are of course correct! I assume that you are less interested in the technical ramifica- tions of the subject itself than you are in what it means for Govern- ment policy--what it means for those who supply the needs of the Government through contracts. You are interested because the subject is part of the broader subject of increased defense spending and the Federal budget problem as a whole. Government procurement this year, to speak in general terms, is approaching a 60 billion dollar business. For fiscal year 1970 the total Government procurement budget for supplies, materials, and equipment amounts to more than 57 billion dollars. Approximately 86 percent of this amount is for national defense. This means that DOD's procurement this year amounts to over 49 billion dollars. An understandable concern of the Congress is whether procurement dollars are being spent efficiently, whether the lowest cost contractor gets the contract, and whether the profits allowed are reasonable.

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