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DOCUMENT RE3UME
02799 - [A1993039 ,
[Forest Service's Accountiag System for Accounts Receivable].
FGMSD-77-42; B-159687. Jujy 11, 1977. 4 pp.
Report to John R. McGuire, Chief, Fore!;t Service; by D. L.
Scantlebury, Director, Financial and General Management itudies
Div.
Issue Area: Accounting and Financial Reporting (2800); Land Use
Planning and Control: Utilization of the Public Lands
Resour -e (2304).
Contact: Financial and General Management Studies Div.
Budget Function: Miscelanenus: rinancial Management and
Information Systems (1002).
Organization Concerned: Department of Agriculture.
The Forest Service's Region 6 system of %ccounting for
accounts receivable, including related billing and collection
proceduyes, was reviewed. Findings/Conclusions: Accounting,
billing, and collecting for accounts receivable at Region 6
were, for the most part, effective and accorded with the system
approved by the Comptroller General in 1970. However, procedures
designed to -ncourage timely payment by contractors were not
followed by ill Forest offices in Region 6. Only one of four
national forests reviewed followed established procedures and
kept late payments to a minimum. The large amount of accounts
receivable--$119.7 million in September 1976--illustrates the
potential for reducing Government borrowing if bills can be
collected more expeditiously. Recommendations: National Forest
offices should be advised of the financial impact of delinquent
accounts, and should be directed to follow established
procedures to insure timely collection. (DJM)](ViewImageLocal?handle=hein.gao/gaobaaclr0001&div=1&collection=&method=preview&ext=.png&size=3)