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Budget Issues: Fiscal Year 1994 Budget Estimates and Actual Results

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Report Type Reports and Testimonies
Report Date April 5, 1995
Report No. AIMD-95-109
Subject
Summary:

Budget estimates seldom reflect actual year-end results. However, accurate budget projections are important to achieving fiscal responsibility in the federal government. Identifying and understanding recurring variations between estimates and results can help future budget decisions and deficit cutting. This report compares the Office of Management and Budget's original and revised estimates of the deficit, receipts, outlays, and economic assumption with the actual fiscal year 1994 results. This is the fourth in a series of annual reports that identifies large differences between budget estimates and actual results and highlights the factors that have led to these differences. It is also the third year in which GAO has examined account-level budget estimates. This report has the additional objective of looking at the trends in estimates for receipts, outlays, and economic assumptions during fiscal years 1991-94.

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