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089560 1 (1976-04-07)

handle is hein.gao/gaobacvpc0001 and id is 1 raw text is: I ~. <0 S2~ ~ U ~ *~c '~- -~ V g APR 1976 Mr. Richard C. Gilliland Regional Administrator Employment and Training Administration 230 South Dearborn Street, Sixth Floor Chicago, Illinois 60604 Dear Mr. Gilliland: We recently surveyed cash management practices at several Federal agencies one of which was the Chicago Regional Office of the Employment and Training Administration (ETA). We wanted to determine whether collections are deposited promptly as required by Title 7 of the GAO manual, a practice which would decrease the need for borrowing by the U. S. Treasury and reduce interest costs to the Government. The Chicago Regional Office of ETA collects refunds averaging over $900,000 monthly. Collections however, are accumulated and held before making a deposit, only a few deposits are made each month. We could not determine the length of delays because the Regional Office did not record when collections were received as required. We discussed this with your Assistant for Administration and Management systems. He said that procedures would be changed to assure that collections are deposited daily. He also said that date of receipt would be recorded for each collection item and unidentified remittances would also be promptly deposited. A concerted practice of daily deposit by ETA regions and other Federal agencies could help immensely to reduce the borrowing burden on the U. S. Treasury. We would appreciate being advised of the corrective actions you carried out. f c0\ UNITED STATES GENERAL ACCOUNTING OFFICE REGIONAL OFFICE FEDERAL BUILDING, 16TH FLOOR WEST 230 SOUTH DEARBORN STREET CHICAGO, ILLINOis 60604

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