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![handle is hein.gao/gaobaabvc0001 and id is 1 raw text is:
DOCURENT RESUJE
00287 - [A0891554]
Exanination of Financial Statements Bureau of Engraving and
Printing Fund for Fiscal Years 1974 and 1975 Shows Need for
Statutory Authority to Increase Capitalizati'on. FOD-76-22;
B-114801. larch 7. 1977. 19 pp. + 2 appendices (4 pp.).
Report to the Longress; by Rokert 1. Keller* Acting Comptroller
General.
Issue Area: WccounAting and Financial Reporting (2800).
Coitact: Field Operations Div.
Budget Function: General Government: Other General Covernment
(806).
organization Concerned: Department of the Tree sury.
Congrersional Relevance: House Committee on Banking, Finance and
Urtan Affairs; Senate Committee on Banking, Housing and
Urban Affairs; Congress.
Authority: 12 Stat. 532. 30 Stat. 17. 19 Stat. 353. 31 U.S.C.
66 (a).
The B-reau of Engraving ard Printing Fund finances the
Bureau's operations and any surplus the Fund accrues during any
fiscal year is paid into the Treasury's general fund as
miscellaneous receipts. Ageacies using the Bureau's services
make payments at prices adequate to recover the cost of
producing the requisitioned items. In fiscal year 1975, a
surcharge was added to prices charged to customers in order to
finance a nachinery and equipment modernization program.
Findings/Conclusions: The Bureau cannot continue to levy the
surcharge without specific statutory authority. The financial
statements of the Fund present fairly its financial position at
June 30. 1974 and 1975, in conformity with principles arn.
standards prescribed by the Comptroller General, with the
exception that the Fund's increased capitalization is not
authorized. Recommendations: The Secretary of the Treasury
should obtain legislative aut hority for the Bureau to borrow
funds from the Treasury's general fund as the optimum approach
to financing capital improvements. (iRS)](ViewImageLocal?handle=hein.gao/gaobaabvc0001&div=1&collection=&method=preview&ext=.png&size=3)