HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.
![handle is hein.gao/gaobaacqh0001 and id is 1 raw text is:
DOCUMENT RESUME
03452 - [12!13633]
[Review of the Social Security Administration's Accounting
System for Accounts Receivable]. FGMSD-77-32; B-159687.
September 6, 1977. 6 pp.
Report to Secretary, Department of Health, Education, and
Welfare; by Harold L. Stugart (for D. L. Scantlebury, Director,
Financial and General Management Studies Div.).
Issue Area: Inccme Security Programs (1300); Accounting and
)Ci.ancial Reporting (2800).
Contact: Financial and General Management Studies Div.
Budget Function: Income Security: General Retirement and
Disability Insurance (601); Income Security: Federal
Employee Retirement aLd Disability (602); Miscellaneous:
Financial management and Information Systems (1002).
Organization Concerned: Social Security Administration.
Congressicnal Relevance: House Committee cn Ways and Means;
Senate Ccmmittee on Finance.
A review of the Social Security Administration's
(SSA's) accounting system for accounts receivable, including
related billing and collection procedures, showed that the
Administration's procedures and practices for recording and
controlling accounts recnivable did not comply fully with the
principles, standards, and related requirements prescribed by
the Comptrcller General. Findings/Conclusions: More than $742
million in overpayments was not reported as zeceivables and many
follcwup collection actions were not made promptly. Although
-one overpayments may eventually prove to be uncollectible,
accounting controls over all overpayments are necessary to
protect the interests of the Government and to present fairly
the financial position of the agency. Effective supervisory
reviews are necessary to assure that followup actions are taken
promptly. Fecommendations: The Secretary of Vealth, Education ,
and Welfare should direct the Commissioner of SSA to establish
accounting controls over all overpayments and include all
overpayments as accounts receivable on SSA's statement of
financial condition. Guidelines should be established to
determine a reasonable allowance for unrecoverable overpayments.
The Secretary should also require the Commissioner to emphasize
the need for increased supervisory review to assure that
adequate ccllecticn efforts are taken by all service centers.
(SC)](ViewImageLocal?handle=hein.gao/gaobaacqh0001&div=1&collection=&method=preview&ext=.png&size=3)