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ID-83-29 1 (1983-03-21)

handle is hein.gao/gaobabmwn0001 and id is 1 raw text is: COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON D.C. 20548 B-204078 MARCH 21. 1983 To the President of the Senate and the Speaker of the House of Representatives Subject: Certification of Revenues for Fiscal Year 1984 Panama Canal Commission (GAO/ID-83-29) The Panama Canal Act of 1979 (22 U.S.C. 3601-387.1 (Supp. IV 1980)), requires the Comptroller General of the United States to certify the Secretary of Defense's1 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 1984 estimated revenues and deposits.2 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 such co 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 Congress ***. The Act provides no criteria for us to use in certifying the estimated revenues. Therefore, we proceeded by testing Com- mission computations of fiscal year 1984 estimates and reviewing the method employed to compile the estimates and forecasts. We previously employed t his same procedure to certify Commission- estimated revenues.for fiscal years 1980, 1981, 1982, and 1983. We also compared actual and estimated revenues for fiscal years 1980, 1981, and 1982. COMMISSION ESTIMATE FOR FISCAL YEAR 1984 The. Assistant Secretary of the Army (Civil Works),1 who is also Chairman of the Commission Supervisory Board, estimates 1Duties assigned by the Act to the Secretary of Defense were subsequently delegated to the Secretary of the Army and by him to the Assistant Secretary of the Army. 2The Commission requires that tolls be paid or secured prior to transit. Thus, for the Commission the terms revenues and deposits are practically synonymous. These terms are used interchangeably in this report. (487079) <7 -f- ...

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