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088926 1 (1972-03-10)

handle is hein.gao/gaobacuww0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON, D.C. 20548 CIVIL DIVISION MAR 1 0 1972 Dear Mr. Zarb: We have completed a review of the Working Capital Fund (WCF) segment of the Department of Labor's accounting system in operation. This review is our first test of the WCF segment since the design for the segment was approved by the Comptroller General on January 28, 1970. The WCF was established on June 29, 1957, to provide authority for financing certain specified services by reimbursement, in advance, from funds available to the Department's bureaus and offices, and other Government agencies. The services, which include accounting and payroll, data processing, visual exhibits, space management, pro- curement, and contracting, are performed by various organizational units in the Department designated as WCF cost centers. Our review, which covered primarily the period July 1, 1970, through June 30, 1971, was directed toward evaluating whether personnel in the Office of Assistant Secretary for Administration and Management (OASA) were operating the WCF segment within its approved design. The review included an examination of the procedures and internal controls, test-checks of transactions, reports, records and related documents, and reviews at four of the 43 cost centers established to provide centralized services. We did not make an audit of the finan- cial statements prepared for the WCF. Our review revealed a number of weaknesses and deficiencies in the operation of the WCF accounting system segment and an indication that the system was not operating fully within its approved design. Most of the problems noted resulted because OASA personnel of the WCF accounting staff, the Branch of Voucher Payment and other cost centers, did not follow the procedures and requirements in the WCF accounting manual and the General Accounting Office (GAO) Policies and Procedures Manual for Guidance of Federal Agencies. The details of our~findings were presented to OASA officials who agreed with them and informed us of various corrective actions taken or planned. Our findings are summarized briefly below, along with our recommendations for further corrective action.

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