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AIMD-95-149R 1 (1995-06-15)

handle is hein.gao/gaobackvx0001 and id is 1 raw text is: GAO United States General Accounting Office Washington, D.C. 20548 Accounting and Information Management Division B-261598 June 15, 1995 The Honorable Frank Murkowski Chairman The Honorable J. Bennett Johnston Ranking Minority Member Committee on Energy and Natural Resources United States Senate The Honorable Larry Craig Chairman The Honorable Bill Bradley Ranking Minority Member Subcommittee on Forests and Public Land Management Committee on Energy and Natural Resources United States Senate The purpose of this letter is to suggest changes in S. 45, the Helium Reform and Deficit Reduction Act of 1995, and S. 738, the Helium Act of 1995. S. 45 would provide for termination of the helium operations of the Interior Department's U.S. Bureau of Mines and would require that we audit annually the financial statements of the Helium Fund, which would be prepared by Interior's Inspector General (IG). S. 738 would also terminate the Bureau of Mines helium operations, but would not require financial statement audits. The changes we are suggesting would eliminate a duplication of financial statement audits already performed under the Chief Financial Officers (CFO) Act while ensuring that audited financial information on the Helium Fund continues to be reported. The Bureau of Mines financial statements for fiscal years 1993 and 1994, prepared under the CFO Act and audited by Interior's IG, contain the detailed information on the Helium Fund that would be required by S. 45. Because S. 738 would not require a financial statement audit of the Helium Fund, it would not duplicate the CFO Act requirements. However, unless amended, S. 738 would not ensure that audited financial information on the Helium Fund would continue to be available to the Congress. Two House bills--H.R. 846, the Helium Act of 1995, and H.R. 873, the Helium Privatization Act of 1995--would also require GAO/AIMD-95-149R, S. 45 and S. 738 Helium Fund Audits

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