Accession Number : ADA299241

Title :   Executive Furniture: Financial Regulatory Agencies Procurement Policies.

Corporate Author : GENERAL ACCOUNTING OFFICE WASHINGTON DC GENERAL GOVERNMENT DIV

PDF Url : ADA299241

Report Date : JUN 1992

Pagination or Media Count : 22

Abstract : This report responds to your request that we determine whether the Office of the Comptroller of the Currency (OCC) and other financial regulatory agencies have procurement guidelines to prevent purchases of excessively priced executive furniture. We reviewed the furniture procurement guidelines at OCC, the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (FRB), the Office of Thrift Supervision (OTS), the Resolution Trust Corporation (RTC), and the Securities and Exchange Commission (SEC). On May 27,1992, we briefed the Subcommittee on the results of our work. We agreed to summarize in writing the information we reported at the briefing. We identified three policies to help prevent buying excessively priced executive furniture and protect the government from projecting an image of extravagance in its office furnishings. These policies include (1) using Federal Supply Schedules of the General Services Administration (GSA) for smaller purchases and competitive acquisition methods for larger purchases, (2) limiting furniture purchases to those requirements considered essential, and (3) prohibiting the purchase of 'top-of-the-line' furniture. All six agencies incorporate the three policies we identified to prohibit the purchase of excessively priced executive furniture, with one exception. OTS does not have a policy specifically barring the purchase of top-of-the-line furniture. Although SEC and FRB do not have policies specifically prohibiting the purchase of top-of-the-line executive furniture, SEC prohibits its presidential appointees and FRB prohibits all its employees from spending more than $5,000 on new furniture.

Descriptors :   *FINANCIAL MANAGEMENT, *PROCUREMENT, *FURNITURE, METHODOLOGY, POLICIES, COMPETITION, UNITED STATES GOVERNMENT, ACQUISITION, DEPOSITS, LIMITATIONS, INSTRUCTIONS, INSURANCE, EXCHANGE, SUPERVISION, EXECUTIVE ROUTINES.

Subject Categories : Administration and Management
      Economics and Cost Analysis
      Mfg & Industrial Eng & Control of Product Sys

Distribution Statement : APPROVED FOR PUBLIC RELEASE