Fourth in a series of annual reports, this study provides observations on the Administration's FY 2002 budget proposal for federal science and technology (FST) programs. The report comments first on approaches to tabulating federal spending on FST and endorses the Administration's method for developing an FST budget cross-tabulation for inclusion in its budget proposal. The report then provides observations on the FY 2002 FST budget proposal, identifying changes in FST investments by federal agencies from the prior year; and assessing the longer-term impacts of these FST proposals in various fields.