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NSIAD-84-95 1 (1984-06-19)

handle is hein.gao/gaobabnkd0001 and id is 1 raw text is: COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON 0 C. 2054 B-204078 JUNE 19, 1984 The Honorable Thomas P. O'Neill, Jr. \\U1flUUUU Speaker of the House of Representatives 124466 Dear Mr. Speaker: Subject: /Certification of Panama Canal Commission Estimated Revenues for Fiscal Year 1985 (GAO/NSIAD-84-95) The Panama Canal Act of 1979 (22 U.S.C. 3601-3871 (Supp. IV 1980)) requires the Comptroller General of the United States to certify the estimated revenues of the Panama Canal Commission for each fiscal year. This report responds to that requirement for fiscal year 1985. 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 amount is estimated by the Secre- tary of Defense and certified by the Comptroller General of the United States at the time the bud- get 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 Com- mission computations of fiscal year 1985 estimates and rev.iewing the method employed to compile the estimates. We used the same procedures to certify the Commission's estimated revenues for fiscal years 1980 through 1984. We also compared actual and estimated revenues for fiscal years 1980 through 1983. COMMISSION ESTIMATE FOR FISCAL YEAR 1985 The Assistant Secretary of the Army (Civil Works),1 who is also Chairman of the Commission Supervisory Board, 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. (487084)

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