accounting and related operations. To this end, a number of approaches were being explored (average grades of employees involved, percentages of professional personnel, lag between costs and disbursements, volume of outstanding travel advances and the like). While such efforts did not result in the establishment of standards, gross measurements were being produced which should be useful in making more detai'ed inquiries and studies. Financial Management Conference The Fourth Annual Financial Management Conference, held at Kennedy Space Center October 16-18, brought together financial management and program resources representatives from all of NASA's field installations and Headquarters to discuss problems and techniques of mutual concern. Topics discussed at this conference were aimed at improving the Agency's financial management procedures and making them more responsive to management's needs. Financial Reporting of Contractor-held Property In response to a request from the U.S. General Accounting Office, NASA published and distributed "Financial Reporting for Government-Owned Contractor-Held Property and Space Hardware" (NHB $500.2). This Handbook required contractors and subcontractors to make financial reports to the Agency covering the two major areas of Government-owned property held by them. It also provides for disclosure of NASA's major investments in such as real and personal property, special test equipment, and materials inventories; and space hardware relating primarily to certain equipment and components thereof fabricated for use in Agency programs. The Handbook expanded previous reporting requirements to include special test equipment. It also provides for a new report covering completed space hardware items, related systems and subsystems, spare parts and components, and certain work-in-process efforts. Cost Comparison Studies (Support Services) NASA Centers and Headquarters made a number of cost studies, comparing the costs of performing support services under contract with the cost of performing equivalent services in-house. Review of these studies was made a part of the general procedures in connection with proposed new procurement actions. They also became part of the review of existing support services contractual relationships. Financial Reports, December 31, 1968 Table 10-1 shows fund obligations and accrued costs incurred during the six months ended December 31, 1968. Appended to the table is a summary by appropriation showing current availability, obligations against this availability, and unobligated balances as of December 31, 1968. Table 10-1-Status of Appropriations as of December 31, 1968 The availability listed includes authority for anticipated reimbursable orders. Table 10-2 shows NASA's consolidated balance sheet as of December 31, 1968, as compared to that of June 30, 1968. Table |