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090210 1 (1975-06-17)

handle is hein.gao/gaobacvwz0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON REGIONAL OFFICE FIFTH FLOOR 803 WEST BROAD STREET FALLS CHURCH, VIRGINIA 22046 Mr. Walter C. DeVaughn Associate Public Printer Management and Administration Government Printing Office Dear Mr. DeVaughn: We would like to acknowledge receipt of The Public Printer's comments on our draft report of the fiscal year 1974 audit, which are being considered in the preparation of our final report. In addition, we would like to bring the following points to your attention which do not materially affect the fairness of 'the financial statements, but they do concern areas where improvements could be made. Need to complete yearend financial statements in a more timely manner We have seen some improvements which should aid in the timely preparation of the yearend financial statements. General ledger posting-delays appear to have decreased significantly and the establishment of a financial reporting section should add continuity to the staff and improve the timeliness of the statements. However, we continue to be concerned about the timeli- ness in computing the yearend balance of the publications for sale inventory. This inventory is maintained by the Superintendent of Documents, and hence his staff is respon- sible for computing the yearend balance. In the past few years, a significant amount of time has been required for the manual and data processing of the inventory records to determine the sales price and convert it to cost. It appears that proper planning and scheduling of the work required to determine the yearend balance would aid in com- puting the inventory balance in a much more timely manner.

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