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094687 1 (1978-12-18)

handle is hein.gao/gaobadxql0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON, D.C. 20548 FOR RELEASE ON DELIVERY EXPECTED BY 9:30 EST MONDAY, DECEMBER 18, 1978 STATEMENT OF ELMER B. STAATS 094687 COMPTROLLER GENERAL OF THE UNITED STATES BEFORE THE SUBCOMMITTEE ON TAXATION AND DEBT MANAGEMENT GENERALLY OF THE SENATE FINANCE COMMITTEE ON /-' A; 1A IMPROVING GOVERNMENT COLLECTION OF TtVP5 A3 AMOUNTS OWED BY THE PUBLIC Mr. Chairman and members of the Subcommittee: We are here today at your request to discuss the results of our Government-wide reviews of how Federal agencies handle accounts receivable and how the Government can be more productive in collecting its debts by following commercial practices. As you are no doubt aware, the inventory of debts owed the U.S. Government has become enormous, and is growing. As of September 30, 1977, the public owed the Government about $118 billion; of this total about $84 billion is owed to Federal agencies which are included in the Federal budget. For these agencies this represents a 21 percent increase from 1976. Much of this will, of course, be paid routinely; however, a large and growing part requires some type of collection action, and, of this, a substantial amount will be written off as uncollect- ible if collection methods are not improved. ;W/9

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