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OGC-93-2 1 (1992-11-03)

handle is hein.gao/gaobabscz0001 and id is 1 raw text is: Comptroller General of the United Sates Washington, D.C. 20548 B-246096.15 November 3, 1992 147945 To the President of the Senate and the Speaker of the House of Representatives On August 26, 1992, the President submitted to the Congress his 104th special message for fiscal year 1992. The message reports one deferral of budget authority. We have reviewed the deferral and found it to be in accordance with the Impoundment Control Act, 2 U.S.C. § 681, et seq. as amended. We do, however, have the following comments. The deferral occurred in the Housing Guarantee subsidy account for the Agency for International Development (AID). This account provides the budget authority for the subsidy costs and administrative expenses associated with the Credit Reform Act of 1990. Pub. L. No. 101-508, § 13201, 104 Stat. 388-610 (1990). The Housing Guarantee program extends guarantees to U.S. private investors who make loans to developing countries to assist them in formulating and executing sound housing and community development policies that meet the needs of lower income groups. Agency officials have informed us that the total amount of budget authority appropriated was $24,664,000 and not $47,801,000 as reported in the message. Also, according to the most recent apportionment schedule for this account, on August 25, 1992, OMB released $14,985,920 of the amount withheld from obligation. Agency officials recently advised us that the balance of the deferred funds was released on September 15, 1992. However, AID officials advised us in late September that over $2 million was legally unavailable for obligation due to a statutory limitation on AID's ability to obligate funds during the last month of availability. The limitation provides that: Except for the appropriations entitled 'International Disaster Assistance', and 'United States Emergency Refugee and Migration Assistance Fund', not more than 15 per centum of any appropriation item made available by this Act . . . . ... GAO/OGC-93-2

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