OMB Circular A-126, revised May 22, 1992, is a Government circular that introduces standards and policies to minimize the cost and improve the management and use of United States Government aircraft. Specifically, OMB Circular A-126 addresses the acquisition, management, usage, cost accounting, and disposal of government aircraft. The Office of Management and Budget was created in 1921 under the authority of the Budget and Accounting Act, revised in 1950 as the Budget and Accounting Procedures Act; again in 1970 as Reorganization Plan No. 2; as and 31 U.S.C. § 1344.
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