S. 4700 would revise requirements for the Office of Management and Budget and federal agencies to prepare governmentwide financial plans. Under current law, those plans cover five years; the bill would require four-year financial plans and would expand the types of information reported. The bill also would broaden requirements for auditing each agency’s internal controls. Enacting S. 4700 could affect direct spending by some agencies that are allowed to use fees, receipts from the sale of goods, and other collections to cover operating costs. CBO estimates that any net changes in direct spending by those agencies would be negligible because most of them can adjust amounts collected to reflect changes in operating costs. CBO estimates that enacting S. 4700 would have no effect on revenues. CBO has not estimated the bill’s effects on spending subject to appropriation. The bill contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.