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ID-81-34 1 (1981-02-24)

handle is hein.gao/gaobabboh0001 and id is 1 raw text is: COMPTROLLER GENERAL. OF THE UNITED STATES WASHINGTON. D.C. 20348 114440 B-197901 FEBRUARY 24,1981 To the President of the Senate and the Speaker of the House of Representatives (The Panama Canal Act (22 U.S.C. 3601) requires the Comptroller General of the United States to certify the/Lsti- mated revenues to be deposited in the Panama Canal Commission's Funjby the Panama Canal Commission. This report responds to this requirement for fiscal year 1982 estimated revenues. Section 1302(c)(2) of the Act states that: No funds may be appropriated to or for the use of the Commission for such fiscal year in excess of (A) the amount of revenues deposited in the Panama Canal Commission Fund during such fiscal year, as such amount is estimated by the Secretary of Defense 11 and certified by the Comptroller General of the United States at the time the budget request for the Commission for such fiscal year is submitted to the Congress ***. (Underscoring supplied.) The Act provides no criteria for us to use in certifying the estimated revenues. Therefore, we proceeded by testing the Commission's computations of fiscal year 1982 estimates, review- ing the method employed to compile the estimates and forecasts, and reviewing actual revenues for fiscal year 1980 and first quarter of fiscal year 1981. We previous-ly certified the esti- mated revenues for fiscal years 1980 and 1981. 1/ Duties assigned by the Act to the Secretary of Defense were subsequently delegated to the Secretary of the Army and by him to the Assistant Secretary of the Army (Civil Works). ID-81-34

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