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093211 1 (1971-03-04)

handle is hein.gao/gaobacxbj0001 and id is 1 raw text is: o 'UNITED STATES GENERAL ACCOUNTING OFFICE 0 REGIONAL OFFICE 3086 FEDERAL OFFICE BUILDING 909 FIRST AVENUE SEATTLE, WASHINGTON 98104 Mr. Harold T. Nelson, Regi-nal Director A\\ Region 1, U.S. Bureau of Reclamation 4 Department of the Interior P. 0. Box 8008 Boise, Idaho 83707 Dear r. Neson:BEST DOCUMEANT AVAILABLE Dear Mr. Nelson: We have completed our review of the accounts and accounting pro- cedures of the power generating and related multipurpose projects in Region 1, Bureau of Reclamation, that participated in the Federal Columbia River Power System (FCRPS) during the fiscal year ended June 30, 1970. The review was directed toward determining the reasonableness and propriety of the projects' financial statements submitted to Bonneville Power Admini- stration (BPA) for consolidation and inclusion in the fiscal year 1970 FCRPS financial statpments. Our review included an evaluation of current administrative procedures and controls and included such tests of financial transactions as we deemed necessary. We are pleased to report that generally we found the administrative procedures and concrols to be adequate. Most errors noted were insignificant and were informally discussed and resolved with your staff during the audit. In addition, our audit disclosed the following matters. Your staff revised two of the statements for the Columbia Basin Project, (1) Amount and Allocation of Plant Investment Schedule A, and (2) Statement of Project Cost and Repayment. The revisions were made because of allocation errors in the computation of irrigation assistance required from power revenues for the Columbia Basin and Teton projects. Toward the end of our audit we noted that there has sometimes been delays in recording completed plant additions in the plant-in-service general ledger accounts. We noted this for the Columbia Basin project. Construction work under certain Cost Authorities for this project was completed in fiscal year 1969 or earlier. but was not transferred to completed plant-in-service until fiscal year 1970. Delays in recording completed plant additions results in understatement of interest on the Federal investment in addition to understatement of the plant-in-service account and overstatement of the construction work-in-process account. You may want to look into this and consider procedures to provide for more timely communication between the individual Project Engineers' Offices and the Regional Finance Office upon completion of a Cost Authority. {079J4// 50 TH ANNIVERSARY 1921- 1971 -7- r

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