| Title |
Performance Audit of Capital Budget Processes |
| Online Availability |
1.2 megabytes, requires version 4.0 or later of Adobe Acrobat Reader Software
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| Abstract |
The 2003-2005 Capital Budget directed JLARC to conduct a performance audit on the strength of investment practices for major state facility projects funded in the Capital Budget. This JLARC performance audit focused primarily on major projects costing over $5 million funded over the past five biennia (1995-97 to the start of 2003-05). In this study we describe the criteria used to evaluate agency planning and execution activities, provide an overall assessment of performance, and highlight good practices and areas of concern. The study also looks at executive branch oversight activities and provides an overall assessment of performance and areas of concern. JLARC’s evaluation of the capital process finds the greatest weakness centers on resources and priorities of the Office of Financial Management (OFM). The study’s recommendation instructs OFM to work in consultation with the Legislature and agency capital staff to address the weaknesses in oversight outlined in the report. |
| Author(s) |
Karen Barrett, Analyst
Isabel Muñoz-Colón, Analyst
Deb Frazier, Analyst
John Woolley, Analyst
Cindi Yates, Project Supervisor |
| Print Availability |
Request hard copy from the JLARC Publications Officer |
| Keywords |
Capital budget, capital financing, capital construction, budget, process, project, portfolio, contractor, construction, large project, major facility, facilities, Office of Financial Management, OFM, oversight, |