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![handle is hein.gao/gaobaaftw0001 and id is 1 raw text is:
COMPTROLLER GENERAL OF THE UNITED STATES
WASHINGTON, D.C. 20548
B-1 14858
The Honorable DE n
The Secretary of the Interior
Dear Mr. Secretary: LM095988
We have examined the Statement of Asse2ts and Liabilities of the
Federal Columbi R'yrFowe yste (see note 1 to the financial
statements) as of June 30, 1973, an_ the related Statements of
Revenues and E4,.epses and of Changes in Financial Position for fiscal
year 1973. Our examination was made in accordance with generally
accepted auditing standards and included tests of the accounting rec-
lords of the Corps of Engineers, the Bureau of Reclamation, and the ';
9-Bonneville Power Administration and such other auditing procedures as
3we considered necessary in the circumstances.
The accompanying financial statements were prepared on a cost-
accounting basis which included depreciation. The statements do not
present the financial results on a basis designed to show whether
power rates are adequate to repay the Federal investment in the System,
either for the fiscal year or cumulatively.
Subject to the financial effects of future adjustments related to
the adoption of firm cost allocations, as explained in note 2, the
accompanying financial statements, in our opinion, present fairly the
assets and liabilities of the System at June 30, 1973, the financial
results of its power operations, and the changes in financial position
for the year then ended, in conformity with accounting principles and
standards prescribed by the Comptroller General of the United States.
Copies of this report are being sent to the Director, Office of
Management and Budget; the Chairman, Federal Power Commission; the
Administrator, Bonneville Power Administration; the Commissioner of
Reclamation; the Secretary of the Army; and the Chief of Engineers.
Si c. l y yours,
[Deputy] Comptroller General
of the United States
Enclosures - 5](ViewImageLocal?handle=hein.gao/gaobaaftw0001&div=1&collection=&method=preview&ext=.png&size=3)