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088946 1 (1971-04-12)

handle is hein.gao/gaobacuxi0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE REGIONAL OFFICE 7014 PEDERAL BUILDONG, 1961 STOUT STREET DENVER,COLORADO 80202 11111 11111 IIIIIIll LMMB8946 Al 12 7 Mr. Harold E. Aldrich Regional Director, Region 6 Bureau of Reclamation P.O. Box 2553 Billings, Montana 59103 Dear Mr. Aldrich: The General Accounting Office has made a review of the operations of the Missouri River Basin (MRB) Project and the integrated projects through June 30, 1969. The review was performed in Region 6 and Region 7 of the Bureau of Reclamation, Department of the Interior, and the Omaha District, Corps of Engineers, Department of the Army. Our review included an examination of administrative practices and procedures, an evaluation of internal controls, and such tests of the financial transactions as we considered necessary. The overall results of our review relating to the consolidated operation and financial position of the integrated projects will be covered in a separate report to the Congress. At Region 6 of the Bureau of Reclamation we generally found the administrative procedures and controls to be adequate. However, during our review various matters which require correction or resolution were identified. The following have been discussed with you and your staff. These items are being reported to you since corrective action had already been taken or was contemplated on many of the items and we would appre- ciate your comments especially as they relate to accomplished or proposed corrective action. ALLOCATION OF CONSTRUCTION COSTS AND OPERATION AND MAINTENANCE EXPENSE 1. Preparation of the Statement of Project Cost and Repayment; the Power System Average Rate and Repayment Study; and the computations of interest on investment, provision for depreciation, and interest during construction all take place shortly after the close of the fiscal year. However, inconsistent rates were used for allocating - 50TH ANNIVERSARY 1921- 1971

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