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093934 1 (1973-01-22)

handle is hein.gao/gaobacxil0001 and id is 1 raw text is: ,&'~ '~1~i ~/ / ZTh~Z~ 9j i»2f UNITED STATEs GENERAL ACCOU REGIONAL OFFICE 3086 FEDERAL OFFICE BUILDING, 909 F SEATTLE, WASHINGTON NTING OFFICE IRST AVENUE 98104 1173 UL JN 0 1973 Mr. Edwin F. Sullivan Regional Director, Pacific Northwest Rei U.S. Bureau of Reclamation 4i GCQOC 0t; Department of the Interior GCo() 33 Box 043 - 550 West Fort Street Boise, ID 83702 Dear Mr. Sullivan: We have completed our review of the Bureau of Reclamation project financial statements included in the Federal Columbia River Power System (FCRPS) for the fiscal year ended June 30, 1972. Our review was directed toward determining the reasonableness and propriety of project financial statements submitted to Bonneville ?ower Administra- - tion (BPA) for inclusion in the fiscal year 1972 FCRPS consolidated statements. We included such tests of financial procedures and controls as we deemed appropriate. We are pleased to report most procedures and controls were found to be adequate. We did note, however, a need to improve the proced- ures for determining irrigation assistance required from commercial power revenues for both power generating and nonpower projects. Irrigation assistance required from power revenues is the difference between irrigation investment and realized repayment contracts and other credits. Only actual costs at fiscal yearend should be included in irrigation investment. For power generating projects, irrigation assistance was over- stated by $1,794,000. This was the result of understating water users' repayment contracts by $2,045,000 and understating repayable costs by $251,000. For nonpower projects, irrigation assistance required from power revenues was overstated by $685,000, primarily because estimated future costs were included in repayable costs as of June 30, 1972. The Division of Finance corrected the above errors and submitted revised statements to BPA. To prevent similar errors, your staff amended its procedures for determining irrigation assistance. Your staff also revised Schedule A--Amount and Allocation of Plant Investment--for the Columbia Basin and Minidoka-Palisades projects. The Columbia Basin schedule was revised to correct a $3,518,000 BEO iIrST DOCUPVENT AVAILABLE ~= _______ 0\j5 Ei5+-1 A

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