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AIMD-94-59R 1 (1994-01-14)

handle is hein.gao/gaobacklz0001 and id is 1 raw text is: GAO United States General Accounting Office Washington, D.C. 20548 Accounting and Information Management Division B-247216 January 14, 1994 Mr. Wyman Babby Acting Deputy Commissioner of Indian Affairs Department of the Interior Dear Mr. Babby: At the request of the Chairman, Subcommittee on Environment, Energy, and Natural Resources, House Committee on Government Operations, and the Chairman, Subcommittee on Interior and Related Agencies, House Committee on Appropriations, we are reviewing the Bureau of Indian Affairs' (BIA) efforts to reconcile its trust fund accounts and develop a strategic plan for trust fund management improvements. Since our work to date has included a review of BIA's draft policy and procedures on Indian Trust Fund Account Losses, your staff asked us to comment on the September 24, 1993, draft policy and procedures. The purpose of this letter is to provide our detailed comments and suggestions. OVERVIEW In January 1992, we reported' that BIA's October 1991 draft loss policy was a good start, but that we believed it could be strengthened in three areas. First, the policy did not address the need for systems and procedures to prevent and detect losses, nor did it instruct BIA staff on how to resolve them if they do occur. Second, the policy did not address what constitutes sufficient documentation to establish the existence of a loss. Finally, the policy's definition of losses did not include interest that was earned but not credited to the appropriate account. While the 'Letter to the Chairman, Subcommittee on Environment, Energy, and Natural Resources, House Committee on Government Operations, BIA Reconciliation Monitoring (GAO/AFMD-92-36R, January 13, 1992). BIA's Trust Fund Loss Policy GAO/AIMD-94-59R

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