Letter from Joel Willemssen to Majority Leader Richard Armeygreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Results in Brief
According to the February 1999 quarterly status reports to OMB, the total estimated Y2K cost for the 24 major federal agencies is about $7.5 billion. This estimate has more than tripled from the $2.3 billion estimate in February 1997. The agencies reported that less than half of the $7.5 billion in Y2K costs had been incurred prior to fiscal year 1999.
Reported Y2K Costs for Fiscal Years 19961998 Have Increased Dramatically But Agencies Generally Do Not Track Actual Y2K Costs
Reported Year 2000 costs have increased dramatically over the prior 3 fiscal years. They have gone from about $74 million for fiscal year 1996, to $837 million for fiscal year 1997, to $2.745 billion for fiscal year 1998 for the 24 major agencies and 10 other organizations included in our review (7 additional organizations did not provide information on prior Year 2000 costs). The reported costs for these prior years represent less than half of the $7.5 billion total Y2K costs estimated by the 24 major agencies.
-- Kevin (email@example.com), May 05, 1999
There's a lot of interesting Y2K budget figures in the letter. I'm reactivating this thread in case anyone missed it.
-- Kevin (firstname.lastname@example.org), May 06, 1999.