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v-iL COMPTROLLER GENERAL OP THE UNITED ST
WASHINGTON, D.C. ZOSAB
B-179826 - C371
The Honorable Jesse Helms
United States Senate
L Dear Senator Helms: LM095841
As you requested on October 4, 1973, and later arranged with our
representatives, we inquired into several aspects of the Corps of -5
Engineers' Falls Lake project near Falls, North Carolina. We briefed
your office on the results of our work on January 31, 1974. As you
later requested, we are summnarizing the information given in that
briefing.
We made our review at the Corps' district office in Wilmington,
North Carolina, which office made the benefit-cost studies for the
project.
BACKGROUND
Public Law 89-298, dated October- 27, 1965, authorized the project.
According to the authorizing document--House Document 175--the pro Qjec-t
was f_ LQo1L ZI..l; w;w a3tolo; waer supply for the
city o.f egh, North Carolina; and -ate r_ .o.xd.cecai n in the
Neuse River basin. The project was the first of 13 resorpv Je s.o
in the general plan for developing the Neuse River basin that were
presented in the authorizing document.
At the time of project authorization, the Corps estimated the
project cost at $18.6 million. In July 1973 the Corps estimated the
cost at $59.1 million--an increase of 218 percent over the initial
estimate. The initially estimated annual project benefits were
$2,732,000, or a benefit-cost ratio of 3.3 to I. The 1973 estimated
annual benefits were $4,325,000, or a benefit-cost ratio of 1.5 to 1.
A comparison of the Corps' initial and current estimated annual
benefits and costs for the project follows.
bES ViT~ WAIAL
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