Statement Of Elmer B. Staats, Chairman, Cost Accounting Standards Board Before The Legislative Subcommittee Of The Appropriations Committee United States House Of Representatives On Cost Accounting Standards Board Budget Estimates For Fiscal Year 1977
Our budget estimate for Fiscal Year 1977 is $1,700,000. This amount is $65,000 more than was appropriated for Fiscal Year 1976. This small increase is required to permit us to absorb the continuing effect of Federal pay increases. Before describing the details of our budget estimate, I would like first to review briefly for you the Board's activities to date. The Board has promulgated eleven Cost Accounting Standards and implementing regulations. All of these Standards are required to be included in negotiated defense contracts covered by Public Law 91-379.