"In June 2014, GAO found that the Coast Guard lacked long-term planning to guide the affordability of its acquisition portfolio," the report stated. "Our testimony reaffirms… recommendations including that the Coast Guard develop a 20-year fleet modernization plan that matches budget realities."
The Coast Guard submits a five-year Capital Investment Plan (CIP) annually to Congress that projects acquisition funding needs for the upcoming five years, the report said.
However, "GAO found the CIPs do not match budget realities in that trade-offs are not included… It's unclear how the Coast Guard plans to afford both the new icebreakers and the Offshore Patrol Cutter," the report also said.
Coast Guard officials stated that they are developing a 20-year CIP, but the time frame for its completion is unknown, the GAO concluded.