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093568 1 (1974-02-01)

handle is hein.gao/gaobacxfy0001 and id is 1 raw text is: 0,- A UNITED STATES GENERAL ACCOUNTING OFFICE REGIONkL OFFICE ROOM 201 415 FIPST VENUE NORTH SEATTLE, WASHINGTON 98109 QArO) oosi7V Major General Richard E McConnell Division Engineer North Pacific Division U.S Army Corps of Engineers 210 Custom House Portland, Oregon 97209 I FEB 1974 Dear General McConnell We have completed our review of the accounts and accounting procedures for the Corps of Engineers projects included in the Federal Columbia River Power System (FCRPS) for the fiscal year j ended June 30, 1973 Our review, which included an evaluation of administrative procedures and controls, was directed toward determining the reasonableness and propriety of the project financial statements submitted by the North Pacific Division (NPD) to the Bonneville Power Administration (BPA) for consoli- dation and inclusion in the fiscal year 1973 FCRPS financial statements. The review included a detailed account analysis of selected projects and a general analysis of others Although the administrative procedures and accounting controls generally were adequate, we found some matters that needed cor- rective action These matters, which are commented on below, have been informally discussed and resolved with pertinent District officials I a Our general analysis of the financial statements for the Dworshak Project showed that the interest on the Federal investment appeared to be in error by about $500,000 Upon rechecking tne computations, Walla Walla District personnel determined that the interest had been understated by about $538,000, mainly because one month's interest during construction had been omitted b The financial statements for the Dworshak Project were originally changed to eliminate an interim negative cost alloca- tion to navigation The revised statements (issued October 31, 1973) submitted to BPA for consolidation showed a $42 9 million allocation to navigation, whereas our general analysis indicated that the allocation probably should NIL N\L 0qVs

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