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111851 1 (1980-03-18)

handle is hein.gao/gaobacxsu0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON, D.C. 20548 March 18, 1980 INTERNATIONAL DIVISION Dr. Jack W. Millar, President Gorgas Memorial Institute of Tropical and Preventive Medicine, Inc. 2007 I Street, N.W. Washington, D.C. 20006 111851 Dear Dr. Millar: As you know, we recently completed our examination of tMe financial statements of Gorgas Memorial Institute of Tropical and Preventive Medicine, Inc., for the fiscM year ended September 30, 1979. This is a summary of observations made during our examination which warrant management atten- tion. EARNINGS FROM GRANT FUNDS MAY NOT BE RETAINED The Institute's appropriation legally constitutes a grant. The Comptroller General of the United States has held in 40 Comp. Gen. 81 (1960) and Government regulations (0MB) Circular A-110, 41 Fed. Reg. 32017 (1976) require that inter- est earned on grant funds belongs to the United States rather than to the grantee. In recent years, the Institute has vio- lated those requirements by retaining interest income earned on grant funds provided by the Department of Health, Educa- tion and Welfare and transferring those earnings to the Institute's Endowment Fund. During fiscal year 1979, those earnings exceeded $8,000. We recommend that the Institute discontinue that prac- tice and return any future earnings realized from grant funds to HEW. This matter is discussed more fully in the enclosure. GORGAS MEMORIAL LABORATORY At the Laboratory, we noted that (1) the distribution ofp2 payroll costs was based on predetermined estimates and (2) documentation was lacking on some procurement actions. t I A I C~ - ik~~ 414, ~ ~.

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