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/gaobaawku0001 and id is 1 raw text is:
DOCUMNT Basad-A
04568 - [B3634669]
Vedknesses in t;.e Department of Housing and ;Srban Developsentfs
Financial Hnna;*mlint System. P'sSD-77-75; B-193363, December 28#
1977. 2 pp. + enclosure * pp.).
Report to Secretary, Departmant of Housing and Urban
Develossent; by D. L. Scaitlebury, Director# Financial iind
General management Studlas Div.
Issue Area: iccounting an- Financial Repnrting (2800);
Acconntimg and Finacial 24porting: Ptfirnal Contruls over
Receipts v.d Disbuxseents (2810).
Contact. inuaci-l and General Manageaent Studies Div.
Budget Functaon: fliscellaneous: Financial Eanagasent and
lnforation Systems (1002).
kuthority: Housing Act of 1964t as amended, sec, 3'2. 31 u.S.Cs
66a. 7 GAO 27*.6. 7 610 11.1. 7 GAO 12.2. 1 Ac 25.6a 7 GAO
24.1. 7 GAP 17. HUD Handbook (1911.1A, p ra. 1.3, 2.5|. ROD
iB3ndbook (550.3).
A questionnaire survey was conducted to evalrate the
adequacy of proce4ures And ccntrols for revenue and expenditure
tzansa tions of t!ie Departmant of bhusiag and Urban Developuent
(HUD)* The questionnaire was designed to identity potential.
problem areas and covered the slstes of intern&l contrils over
collections# imprest funds, disbursement&,# and obligations.
Findings/Conclusions: Collections were not promptly deposited by
three regional accounting stations because these regions were
not following established HUD procedures. Three regions were
also taking excessi\ve time to deposit collections received from
delinquent borrowers. It was uot uncommon for these collections
to be deposited between 1 and 2 months after the date of
remittamce. In several instances, this tije period exceeded 100
days. Several regional accounting stations did nct adequately
account fcr or physically control collections promptly upon
receipt. Collections sere not adequately safeguarded at four
statiors. Individual employees were given too Rauy
responsibilities in the handling of collections at three
stations; conseguently, internal controls over collections were
compromised. Imprest fund carhiers at most accounting stations
did not adequately safeguard9 account for, or control imprest
funds. Travel advances at four stations were not systematically
or consistently aged. Several regional accounting stations did
Lot adequ&tely support disbursements or show the basis and
computatio4 of estimates on obli;ating documents. (Author/SI)](ViewImageLocal?handle=hein.gao/gaobaawku0001&div=1&collection=&method=preview&ext=.png&size=3)