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FGMSD-77-6 1 (1976-12-16)

handle is hein.gao/gaobaabuo0001 and id is 1 raw text is: 

DOCUMENT RESUME


00272 - (A05907201
Weaknesses in the Coast Guard's Financial Management System.
FGMSD-77-6; B-115336. December 16, 1976. 2 rp. and 2 appendices
(4 pp.).

Report to Ads. Owen W. -iler, Commandant, Ccast Guard; by D. I.
Scantle.,ury, Director, Finaucial and General hantgement Studies
Div.

Issue Area: Accounting and Financial Reporting (2800).
Contact: Financial and General Management Studies Div.
Budget Function: Miscellaneous: Financial Management and
    Information Systems (1002).
.rganization Concerned: Department of Transrcrtation.

         Results are reported of a questicnnaire survey of ten
Coast Guard districts and the Coast Guard Academy to evaluate
procedures and controls applicable to revenue and expenditare
transactions. iesponses were obtai:ned primarily through
interviews and discussions with officials ct the district
offices and the Academy. Findings/Conclusions: A need wzs found
to: improve Procedures for recording and collecting receivables;
immediately log in collections received through the mail;
explai:- the reasons for lost discounts on vcuchers; strengthen
accoun-ability for imprest funds; and explain ,he basis used in
estimating obligations on the obligating documents. Many of the
weaknesses notc.d could have been corrected sconer if district
officers had 1e n audited regularly by the DOT's internal audit
staff. (RRS)

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