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ID-82-26 1 (1982-03-19)

handle is hein.gao/gaobabdag0001 and id is 1 raw text is: r COMPTROLLER GENERAL OF THE UNITED STATES ~ WASHINGTON D.C. 20W1 B-204078 MARCH 19,1982 To the President of the Senate and the Speaker of the House of Representatives The Panama Canal Act of 1979 (22 U.S.C. 3601), requires the Comptroller General of the United States to certify the Secretary of Defense's /estimate of the Panama Canal Commission's annual revenues to be deposited in the Panama Canal Commission Fund. This report responds to this requirement for fiscal year 1983 estimated revenues and deposits. l/ Specifically, section 1302(c)(2) of the act states that: No funds may be appropriated to or for the use of _ the Commission for any fiscal year in excess of (A) the amount of revenues deposited in the Panama -_ Canal Commission Fund during such fiscal year, as 00 such amount is estimated by the Secretary of Defense and certified by the Comptroller General of the - United States at the time the budget request for ____ the Commission for such fiscal year is submitted to the Congress * * *. The act provides no criteria for us to use in certifying the estimated revenues. Therefore, we proceeded by testing Commission computations of fiscal year 1983 estimates and reviewing the method employed to compile the estimates and forecasts. We previously em- ployed this same procedure to certify Commission estimated revenues for fiscal years 1980, 1981, and 1982. We also compared actual and estimated revenues for prior years. COMMISSION ESTIMATE FOR FISCAL YEAR 1983 The Assistant Secretary of the Army (Civil Works), 2/ who is also Chairman of the Commission Supervisory Board, estimates that I/The Commission requires that tolls be paid or guaranteed prior to transit. Thus, for the Commission the terms revenues and deposits are practically synonymous. These terms are used inter- changeably in this report. 2/Duties assigned by the act to the Secretary of Defense were sub- sequently delegated to the Secretary of the Army and by him to the Assistant Secretary of the Army. ID-82-26

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