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116597 1 (1981-10-06)

handle is hein.gao/gaobadyvt0001 and id is 1 raw text is: 
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UNITED STATES GENERAL ACCOUNTING OFFICE

        WASHINGTON, D.C. 20548



                              FOR RELEASE ON DELIVERY
                              EXPECTED AT 9:30 AM EST
                              OCTOBER 6, 1981


                     STATEMENT OF

                  JOHN F. SIMONETTE

                  ASSOCIATE DIRECTOR

     ACCOUNTING AND FINANCIAL MANAGEMENT DIVISION

                      BEFORE THE

CHAIRMAN, SUBCOMMITTEE ON OVERSIGHT AND INVESTIGA

    AND CHAIRMAN, SUBCOMMITTEE ON MINES AND MININ

            HOUSE COMMITTEE ON INTERIOR AND

                    INSULAR AFFAIRS


116597


TIONS

G


                      ON

PROBLEMS CONFRONTING THE GEOLOGICAL SURVEY IN

      COLLECTING OIL AND GAS ROYALTIES


Mr. Chairmen and Members of the Subcommittees:

     We are pleased to be here today to discuss our views on

Geological Survey's oil and gas royalty accounting system--a

system fraught with longstanding financial management problems.

Geological Survey is responsible for collecting the royalty

income derived from oil and gas produced on Federal and Indian

lands. Royalty collections have increased rapidly in recent

years primarily because of substantial increases in oil and

gas prices. With oil prices decontrolled on January 30, 1981,

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