STORY:
GAO Says Y2K Costs Not Being Tracked

The Associated Press is reporting some federal agencies receiving emergency funding to help them fix Year 2000 computer problems are not keeping accurate track of how they spend the money.

In a report issued by The General Accounting Office, it states that of 24 major federal agencies surveyed, only seven reported separately tracking Y2K costs for the fiscal years 1996 through 1998. Five tracked only some costs, while nine did not keep specific Y2K spending records and three did not respond to the GAO.

The report said that in the 1996-98 period, the agencies apparently spent less than half the $7.5 billion that the administration has said will be needed to fix the millennium bug. But it said that because of the lack of separate tracking, these costs can only be regarded as estimates.

House Majority Leader Dick Armey, R-Texas, who requested the report, said he was startled by the accounting methods.

The GAO report said Treasury -- with Agriculture and State one of the three agencies not providing information -- told the OMB that $92 million of its $253 million in Y2K funding was for non-Y2K information technology investments.

Source: Associated Press / Washington Post

DATE: 5/07/99

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