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AFMD-85-22 1 (1985-04-03)

handle is hein.gao/gaobabezi0001 and id is 1 raw text is: 





BY THE US, GENERAL ACCOUNT ING OFFICE


Report To The Secretary Of The Treasury











Improvements Needed In Controlling And

Accounting ForTreasury Banking Arrangements




The Department of the Treasury has es-
tablished various systems and arrange-
ments with commercial banks for handling
federal agencies' deposits. In each system,
the primary objective is to accelerate the
flow of funds to Treasury and, thereby,
minimize federal borrowing. Bank delays in
transferring the funds increase the govern-
ment's interest cost to the extent that
additional funds must be borrowed to meet
commitments.
After reviewing the systems, GAO deter-
mined that certain additional controls are
needed to prevent and detect bank delays.
GAO also found improvements are needed
to ensure that commercial banks are fairly
compensated for their services and that
control over related costs is adequate.









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               z~III'E~GAO/AFMD-85-22
                                       0                      APRIL 3, 1985

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